Joby Aviation (NYSE:JOBY) Trading 8.1% Higher – Time to Buy?

Joby Aviation, Inc. (NYSE:JOBY) traded up 8.1% during mid-day trading on Tuesday . The stock traded as high as $8.30 and last traded at $8.24. 7,541,352 shares were traded during trading, a decline of 15% from the average session volume of 8,844,245 shares. The stock had previously closed at $7.62.

Analyst Ratings Changes

A number of brokerages have commented on JOBY. Canaccord Genuity Group decreased their price objective 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. Needham & Company LLC started coverage on shares of Joby Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $8.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a research note on Monday, September 30th. JPMorgan Chase & Co. cut their price target on 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 reiterated a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.35.

Joby Aviation Trading Up 8.4 %

The company has a market cap of $6.32 billion, a price-to-earnings ratio of -11.80 and a beta of 2.32. The stock has a 50 day moving average price of $6.62 and a two-hundred day moving average price of $5.81.

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). The company had revenue of $0.28 million during the quarter, compared to analyst estimates 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 in the previous year, the company posted ($0.13) EPS. On average, equities analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Matthew Field sold 11,764 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $5.78, for a total transaction of $67,995.92. Following the sale, the insider now owns 298,786 shares of the company’s stock, valued at approximately $1,726,983.08. This trade represents a 3.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction dated Tuesday, October 1st. The stock was 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 in the company, valued at approximately $158,470,228.90. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 508,731 shares of company stock valued at $2,621,909 in the last 90 days. 32.40% of the stock is owned by insiders.

Institutional Trading of Joby Aviation

A number of large investors have recently bought and sold shares of the business. Larson Financial Group LLC boosted 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 valued at $37,000 after buying an additional 5,000 shares during the period. Nisa Investment Advisors LLC lifted its position in Joby Aviation by 216.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after acquiring an additional 5,840 shares in the last quarter. Empowered Funds LLC acquired a new position in Joby Aviation in the 3rd quarter worth $51,000. Sound Income Strategies LLC increased its holdings in 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 in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Joby Aviation in the 2nd quarter valued at about $57,000. 52.85% 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.