Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) Director Motor Corp/ Toyota acquired 49,701,790 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were bought at an average cost of $5.03 per share, with a total value of $250,000,003.70. Following the transaction, the director now directly owns 122,573,621 shares in the company, valued at $616,545,313.63. This trade represents a 68.20% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
Joby Aviation Trading Up 3.8%
NYSE:JOBY opened at $6.88 on Wednesday. Joby Aviation, Inc. has a 12-month low of $4.66 and a 12-month high of $10.72. The firm has a market cap of $5.42 billion, a PE ratio of -9.83 and a beta of 2.34. The stock has a fifty day moving average price of $6.35 and a 200 day moving average price of $7.21.
Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same period last year, the company posted ($0.14) EPS. Equities analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.
Wall Street Analyst Weigh In
A number of research analysts have commented on the company. Cantor Fitzgerald restated an "overweight" rating and set a $9.00 price target on shares of Joby Aviation in a research note on Monday, May 5th. Morgan Stanley reissued an "equal weight" rating and set a $7.00 target price (down previously from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. JPMorgan Chase & Co. dropped their target price on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reiterated a "buy" rating and set a $10.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, HC Wainwright reissued a "buy" rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $8.67.
Get Our Latest Research Report on Joby Aviation
Institutional Trading of Joby Aviation
Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Joby Aviation by 773.9% in the first quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock valued at $34,000 after buying an additional 5,015 shares during the last quarter. Whittier Trust Co. purchased a new position in shares of Joby Aviation in the 4th quarter valued at about $38,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Joby Aviation in the 4th quarter valued at about $41,000. Toronto Dominion Bank acquired a new stake in shares of Joby Aviation during the 4th quarter worth about $41,000. Finally, Carolinas Wealth Consulting LLC purchased a new stake in Joby Aviation during the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 52.85% of the company's stock.
About Joby Aviation
(
Get Free Report)
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.
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