Joby Aviation, Inc. (NYSE:JOBY) Short Interest Up 6.7% in August

Joby Aviation, Inc. (NYSE:JOBY) experienced a 6.7% increase in short interest in August, totaling 79.1 million shares. Currently, 20.4% of its shares are sold short, with a short-interest ratio of 12.0 days based on an average trading volume of 6.58 million shares. Insider trading includes CEO Joeben Bevirt selling 250,000 shares. Institutional investors hold 45.54% of the shares, and analysts have varying ratings, with Cantor Fitzgerald maintaining an 'overweight' rating and a target of $10.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) was the target of a significant increase in short interest in August. As of August 15th, there was short interest totalling 79,100,000 shares, an increase of 6.7% from the July 31st total of 74,110,000 shares. Approximately 20.4% of the shares of the stock are sold short. Based on an average daily volume of 6,580,000 shares, the short-interest ratio is currently 12.0 days.

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Insider Buying and Selling at Joby Aviation

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In related news, CEO Joeben Bevirt sold 250,000 shares of the firm's stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $4.86, for a total value of $1,215,000.00. Following the sale, the chief executive officer now directly owns 32,724,274 shares of the company's stock, valued at $159,039,971.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Didier Papadopoulos sold 23,188 shares of the company's stock in a transaction on Monday, July 1st. The shares were sold at an average price of $4.86, for a total transaction of $112,693.68. Following the completion of the transaction, the insider now directly owns 54,666 shares in the company, valued at $265,676.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joeben Bevirt sold 250,000 shares of the firm's stock in a transaction on Monday, July 1st. The shares were sold at an average price of $4.86, for a total value of $1,215,000.00. Following the sale, the chief executive officer now directly owns 32,724,274 shares in the company, valued at approximately $159,039,971.64. The disclosure for this sale can be found here. Insiders sold a total of 326,032 shares of company stock worth $1,613,336 over the last three months. Corporate insiders own 32.40% of the company's stock.

Institutional Trading of Joby Aviation

Large investors have recently bought and sold shares of the business. EP Wealth Advisors LLC bought a new stake in shares of Joby Aviation during the 2nd quarter valued at about $165,000. Algert Global LLC bought a new position in shares of Joby Aviation during the 2nd quarter worth approximately $90,000. Susquehanna Fundamental Investments LLC grew its position in shares of Joby Aviation by 1,018.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company's stock worth $3,453,000 after buying an additional 616,579 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Joby Aviation by 28.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 248,275 shares of the company's stock valued at $1,266,000 after acquiring an additional 55,340 shares in the last quarter. Finally, Xponance Inc. lifted its position in shares of Joby Aviation by 52.0% during the 2nd quarter. Xponance Inc. now owns 25,614 shares of the company's stock valued at $131,000 after acquiring an additional 8,759 shares during the period. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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A number of research analysts recently issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Monday, August 19th. Canaccord Genuity Group dropped their price target on shares of Joby Aviation from $11.00 to $10.50 and set a "buy" rating for the company in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 24th.

Check Out Our Latest Research Report on JOBY

Joby Aviation Price Performance

MarketBeat Week in Review – 7/29 - 8/2

Shares of Joby Aviation stock traded down $0.14 during midday trading on Monday, reaching $5.00. The company had a trading volume of 5,227,900 shares, compared to its average volume of 5,545,266. The stock has a fifty day moving average price of $5.52 and a 200 day moving average price of $5.28. Joby Aviation has a fifty-two week low of $4.50 and a fifty-two week high of $7.69. The firm has a market cap of $3.54 billion, a PE ratio of -6.58 and a beta of 2.00.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.18). The firm had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.28 million. During the same quarter last year, the firm posted ($0.17) EPS. As a group, sell-side analysts forecast that Joby Aviation will post -0.69 EPS for the current year.

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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