Joby Aviation (NYSE:JOBY) Stock Price Up 11.3% – Still a Buy?

Shares of Joby Aviation, Inc. (NYSE:JOBY) were up 11.3% during mid-day trading on Tuesday . The company traded as high as $8.94 and last traded at $9.10. Approximately 6,048,507 shares changed hands during trading, a decline of 63% from the average daily volume of 16,437,955 shares. The stock had previously closed at $8.17.

Analyst Ratings Changes

JOBY has been the topic of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 30th. Canaccord Genuity Group boosted their target price on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. downgraded Joby Aviation from a “neutral” rating to an “underweight” rating and lifted their price target for the stock from $5.00 to $6.00 in a research note on Friday, January 10th. HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, December 18th. Finally, Needham & Company LLC upped their price target on shares of Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.30.

Joby Aviation Trading Up 9.4 %

The stock has a market cap of $6.84 billion, a price-to-earnings ratio of -12.78 and a beta of 2.33. The firm’s 50 day moving average is $7.97 and its two-hundred day moving average is $6.35.

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

Insider Activity

In other news, insider Gregory Bowles sold 7,748 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $8.08, for a total value of $62,603.84. Following the transaction, the insider now owns 29,235 shares of the company’s stock, valued at approximately $236,218.80. This trade represents a 20.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Didier Papadopoulos sold 6,005 shares of Joby Aviation stock in a transaction on Monday, December 16th. The shares were sold at an average price of $7.65, for a total transaction of $45,938.25. Following the transaction, the insider now owns 54,776 shares in the company, valued at $419,036.40. The trade was a 9.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 640,849 shares of company stock valued at $5,601,747 in the last ninety days. Company insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Bouvel Investment Partners LLC raised its stake in shares of Joby Aviation by 1.4% in the 4th quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company’s stock valued at $1,007,000 after purchasing an additional 1,715 shares in the last quarter. Tidal Investments LLC increased its holdings in Joby Aviation by 13.7% in the third quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock valued at $147,000 after buying an additional 3,522 shares during the last quarter. Kensington Investment Counsel LLC raised its stake in Joby Aviation by 12.0% during the third quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock valued at $172,000 after buying an additional 3,653 shares in the last quarter. Amalgamated Bank lifted its holdings in Joby Aviation by 46.2% during the 2nd quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock worth $71,000 after buying an additional 4,391 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in shares of Joby Aviation by 218.3% in the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after acquiring an additional 5,000 shares in the last quarter. 52.85% of the stock is owned by hedge funds and other 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.