Joby Aviation, Inc. (NYSE:JOBY) Short Interest Update

Joby Aviation, Inc. (NYSE:JOBY) was the target of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 66,180,000 shares, a drop of 8.3% from the December 15th total of 72,190,000 shares. Approximately 15.0% of the shares of the company are short sold. Based on an average trading volume of 18,960,000 shares, the short-interest ratio is presently 3.5 days.

Insider Buying and Selling

In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $9.84, for a total transaction of $2,460,000.00. Following the completion of the transaction, the chief executive officer now owns 32,325,793 shares in the company, valued at approximately $318,085,803.12. The trade was a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul Cahill Sciarra sold 333,332 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $8.00, for a total value of $2,666,656.00. Following the transaction, the director now directly owns 58,994,729 shares in the company, valued at $471,957,832. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 640,849 shares of company stock valued at $5,601,747 in the last quarter. Company insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

Hedge funds and other institutional investors have recently modified their holdings of the business. Commonwealth Equity Services LLC lifted its stake in Joby Aviation by 67.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 102,399 shares of the company’s stock worth $522,000 after acquiring an additional 41,128 shares in the last quarter. Choreo LLC acquired a new position in shares of Joby Aviation in the 2nd quarter valued at about $60,000. Amalgamated Bank lifted its position in shares of Joby Aviation by 46.2% in the second quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock worth $71,000 after purchasing an additional 4,391 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Joby Aviation by 142.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,200 shares of the company’s stock worth $129,000 after purchasing an additional 14,805 shares during the period. Finally, Hsbc Holdings PLC grew its position in Joby Aviation by 27.9% during the second quarter. Hsbc Holdings PLC now owns 160,151 shares of the company’s stock valued at $802,000 after purchasing an additional 34,890 shares in the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

Joby Aviation Trading Down 2.3 %

Shares of NYSE:JOBY opened at $8.18 on Monday. The stock has a fifty day moving average of $7.94 and a 200-day moving average of $6.33. Joby Aviation has a one year low of $4.50 and a one year high of $10.72.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. The company had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. During the same period in the prior year, the company earned ($0.13) earnings per share. As a group, equities research analysts anticipate that Joby Aviation will post -0.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. JPMorgan Chase & Co. downgraded shares of Joby Aviation from a “neutral” rating to an “underweight” rating and boosted their price target for the stock from $5.00 to $6.00 in a research report on Friday, January 10th. Canaccord Genuity Group boosted their target price on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Needham & Company LLC increased their price target on Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a research note on Monday, September 30th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, Joby Aviation has a consensus rating of “Moderate Buy” and an average target price of $9.30.

About Joby Aviation

Joby Aviation, Inc, a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.