Joby Aviation (NYSE:JOBY) Shares Up 1.4% – Time to Buy?

Shares of Joby Aviation, Inc. (NYSE:JOBY) rose 1.4% during trading on Friday . The company traded as high as $8.68 and last traded at $8.49. Approximately 3,891,786 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 16,900,525 shares. The stock had previously closed at $8.37.

Analysts Set New Price Targets

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

Joby Aviation Stock Down 0.5 %

The firm has a market capitalization of $6.37 billion, a P/E ratio of -11.89 and a beta of 2.33. The business’s 50 day moving average is $7.88 and its two-hundred day moving average is $6.29.

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

Insiders Place Their Bets

In other news, insider Didier Papadopoulos sold 6,005 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $7.65, for a total transaction of $45,938.25. Following the completion of the sale, the insider now directly owns 54,776 shares of the company’s stock, valued at $419,036.40. This trade represents a 9.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kate Dehoff sold 6,205 shares of Joby Aviation stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $8.10, for a total value of $50,260.50. Following the completion of the transaction, the insider now directly owns 215,947 shares in the company, valued at $1,749,170.70. This represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 640,849 shares of company stock worth $5,601,747 over the last ninety days. Company insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of JOBY. Ieq Capital LLC lifted its position in shares of Joby Aviation by 68.6% in the second quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after purchasing an additional 1,807,054 shares in the last quarter. State Street Corp increased its stake in Joby Aviation by 9.5% in the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after buying an additional 812,248 shares during the period. Geode Capital Management LLC lifted its position 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 worth $47,245,000 after buying an additional 670,852 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its stake in shares of Joby Aviation by 1,018.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after buying an additional 616,579 shares during the period. Finally, Holocene Advisors LP grew its holdings in shares of Joby Aviation by 91.7% during the 3rd quarter. Holocene Advisors LP now owns 521,327 shares of the company’s stock valued at $2,622,000 after acquiring an additional 249,375 shares in the last quarter. Hedge funds and other institutional investors own 52.85% 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.