Joby Aviation (NYSE:JOBY) Trading Up 3.8% – Should You Buy?

Joby Aviation, Inc. (NYSE:JOBY)’s stock price shot up 3.8% during trading on Wednesday . The stock traded as high as $8.62 and last traded at $8.20. 8,597,809 shares were traded during trading, an increase of 8% from the average session volume of 7,929,396 shares. The stock had previously closed at $7.90.

Wall Street Analyst Weigh In

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

Joby Aviation Trading Up 1.6 %

The stock has a market cap of $6.14 billion, a P/E ratio of -11.27 and a beta of 1.97. The stock’s fifty day moving average price is $5.65 and its 200 day moving average price is $5.42.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data 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). Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. During the same period last year, the business posted ($0.13) earnings per share. On average, analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Transactions at Joby Aviation

In related news, CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total value of $1,212,500.00. Following the transaction, the chief executive officer now owns 32,674,274 shares of the company’s stock, valued at approximately $158,470,228.90. This trade represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Didier Papadopoulos sold 6,025 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $5.33, for a total transaction of $32,113.25. Following the completion of the transaction, the insider now owns 47,474 shares in the company, valued at $253,036.42. The trade was a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 535,526 shares of company stock valued at $2,745,708. Corporate insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC increased its holdings in shares of Joby Aviation by 218.3% in the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after purchasing an additional 5,000 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Joby Aviation by 216.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after purchasing an additional 5,840 shares during the period. Empowered Funds LLC purchased a new position in Joby Aviation during the third quarter valued at approximately $51,000. Sound Income Strategies LLC raised its position in shares of Joby Aviation by 3,311.3% during the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock worth $52,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Integris Wealth Management LLC purchased a new stake in Joby Aviation during the 2nd quarter worth approximately $54,000. Institutional investors own 45.54% of the company’s stock.

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.