Joby Aviation, Inc. (NYSE:JOBY) Short Interest Down 6.2% in November

Joby Aviation, Inc. (NYSE:JOBY) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 73,190,000 shares, a drop of 6.2% from the October 31st total of 78,060,000 shares. Based on an average trading volume of 13,960,000 shares, the short-interest ratio is currently 5.2 days. Currently, 16.8% of the company’s shares are sold short.

Joby Aviation Stock Performance

NYSE:JOBY traded down $0.26 during trading hours on Tuesday, reaching $7.85. The company had a trading volume of 20,315,551 shares, compared to its average volume of 8,232,974. Joby Aviation has a one year low of $4.50 and a one year high of $9.33. The stock has a 50-day moving average of $5.90 and a two-hundred day moving average of $5.51.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on JOBY shares. Canaccord Genuity Group reduced their target price on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a report on Monday, September 30th. Needham & Company LLC initiated coverage on Joby Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $8.00 price target on the stock. JPMorgan Chase & Co. cut their price target on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. Finally, HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Joby Aviation presently has an average rating of “Moderate Buy” and an average target price of $8.35.

Insider Transactions at Joby Aviation

In other Joby Aviation news, insider Gregory Bowles sold 26,775 shares of Joby Aviation stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $5.14, for a total transaction of $137,623.50. Following the completion of the sale, the insider now directly owns 18,035 shares in the company, valued at $92,699.90. The trade was a 59.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Matthew Field sold 5,643 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $5.96, for a total value of $33,632.28. Following the sale, the insider now directly owns 293,143 shares of the company’s stock, valued at approximately $1,747,132.28. This trade represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 535,526 shares of company stock valued at $2,745,708. Corporate insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

Several large investors have recently modified their holdings of the stock. Intech Investment Management LLC acquired a new stake in Joby Aviation during the third quarter worth about $518,000. Fred Alger Management LLC raised its stake in Joby Aviation by 89.4% during the 3rd quarter. Fred Alger Management LLC now owns 123,368 shares of the company’s stock worth $621,000 after buying an additional 58,229 shares during the period. Caprock Group LLC raised its position in Joby Aviation by 179.5% in the 3rd quarter. Caprock Group LLC now owns 124,404 shares of the company’s stock valued at $626,000 after buying an additional 79,896 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted its holdings in shares of Joby Aviation by 1,018.5% in 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 last quarter. Finally, Rhumbline Advisers grew its position in shares of Joby Aviation by 26.7% in the second quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock valued at $2,798,000 after purchasing an additional 115,483 shares in the last quarter. 45.54% of the stock is owned by institutional investors.

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.