Joby Aviation (NYSE:JOBY) Trading Up 8.4% – Should You Buy?

Joby Aviation, Inc. (NYSE:JOBY)’s stock price traded up 8.4% during mid-day trading on Wednesday . The company traded as high as $8.45 and last traded at $8.26. 16,261,105 shares changed hands during trading, an increase of 83% from the average session volume of 8,893,408 shares. The stock had previously closed at $7.62.

Analyst Ratings Changes

Several research analysts have commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th. Needham & Company LLC began coverage on shares of Joby Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $8.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, December 18th. Canaccord Genuity Group reduced their target price on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. decreased their price objective on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $8.35.

Joby Aviation Trading Up 8.4 %

The business has a 50 day moving average price of $6.72 and a 200-day moving average price of $5.85. The firm has a market capitalization of $6.32 billion, a PE ratio of -11.80 and a beta of 2.32.

Joby Aviation (NYSE:JOBY) last issued 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 company had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same period last year, the business posted ($0.13) earnings per share. On average, equities research analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Activity at Joby Aviation

In related news, insider Gregory Bowles sold 7,748 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $8.08, for a total value of $62,603.84. Following the completion of the transaction, the insider now owns 29,235 shares of the company’s stock, valued at approximately $236,218.80. The trade was a 20.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Matthew Field sold 5,643 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $5.96, for a total transaction of $33,632.28. Following the sale, the insider now directly owns 293,143 shares in the company, valued at $1,747,132.28. This represents a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 508,731 shares of company stock valued at $2,621,909. Insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

A number of hedge funds have recently bought and sold shares of the company. Tidal Investments LLC boosted its holdings in shares of Joby Aviation by 13.7% during the third quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock worth $147,000 after purchasing an additional 3,522 shares during the last quarter. Geode Capital Management LLC grew its holdings in Joby Aviation by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock valued at $47,245,000 after buying an additional 670,852 shares during the period. Kensington Investment Counsel LLC increased its stake in shares of Joby Aviation by 12.0% during the 3rd quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock valued at $172,000 after acquiring an additional 3,653 shares during the last quarter. EP Wealth Advisors LLC boosted its position in shares of Joby Aviation by 15.4% in the third quarter. EP Wealth Advisors LLC now owns 37,369 shares of the company’s stock worth $188,000 after acquiring an additional 5,000 shares during the last quarter. Finally, State Street Corp grew its holdings in Joby Aviation by 9.5% in the third quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after purchasing an additional 812,248 shares during the period. Institutional investors and hedge funds own 52.85% of the company’s stock.

Joby Aviation Company Profile

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.