Joby Aviation (NYSE: JOBY) stock is posting big gains Tuesday. The company's share price was up 9.7% as of 3:30 p.m. EDT, according to data from S&P Global Market Intelligence.
On the heels of explosive bullish momentum powered by news of a successful testing for one of the company's flying-electric vehicles last week, Joby stock has continued to rally early in this week's trading. Today's gains appear to be driven by recent insider-ownership disclosures published with the Securities and Exchange Commission (SEC) and some positive media coverage.
Some insiders increased holdings despite others selling
In a filing published with the SEC yesterday, Joby Aviation provided an update on recent stock purchases and sales made by the company's management team. Notably, Head of Government Policy Gregory Bowles and President of Original Equipment Manufacturing (OEM) Didier Papadopoulos both decreased their holdings in shares of company stock.
On the other hand, General Counsel Kate DeHoff and Chief Product Officer Eric Allison increased their overall holdings across the period despite also selling shares. DeHoff and Allison purchased company stock through the execution of stock options and then elected to sell some of their shares.
Joby's media profile is getting a boost
In addition to signs that members of the company's management team still have confidence in the stock after its recent rally, Joby stock appears to be getting a bullish boost from media coverage today. For starters, Electrive published a write-up detailing the flying-vehicle specialist's 523-mile test flight for its hydrogen-electric air taxi.
The successful flight was announced last Thursday and has powered surging interest for the stock. Shares are up roughly 49% over the last week.
On the heels of the test announcement, an article published at InvestorPlace named Joby Aviation as a top flying-vehicle stock to buy. Meanwhile, a write-up published at Seeking Alpha profiled Joby as a speculative bet on the air-taxi market.
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