Joby Aviation (NYSE:JOBY) Trading Up 0.6% – Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY) rose 0.6% on Thursday . The stock traded as high as $8.59 and last traded at $8.15. Approximately 5,282,139 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 17,526,049 shares. The stock had previously closed at $8.10.

Wall Street Analyst Weigh In

Several research firms recently commented on JOBY. Needham & Company LLC boosted 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 reissued a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, December 18th. Canaccord Genuity Group raised their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. downgraded shares of 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. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Joby Aviation has a consensus rating of “Moderate Buy” and a consensus price target of $9.30.

Joby Aviation Stock Down 2.3 %

The firm has a market cap of $6.25 billion, a P/E ratio of -11.68 and a beta of 2.33. The business’s 50 day moving average is $7.94 and its 200-day moving average is $6.31.

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 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 quarter last year, the company posted ($0.13) EPS. As a group, equities analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Activity

In related news, insider Didier Papadopoulos sold 6,005 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were 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 owns 54,776 shares of the company’s stock, valued at $419,036.40. This represents a 9.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Cahill Sciarra sold 333,332 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $8.00, for a total transaction of $2,666,656.00. Following the completion of the transaction, the director now directly owns 58,994,729 shares in the company, valued at $471,957,832. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 640,849 shares of company stock worth $5,601,747. 32.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC grew its holdings in 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 buying an additional 5,000 shares in the last quarter. Salem Investment Counselors Inc. increased its holdings in shares of Joby Aviation by 5,000.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock valued at $41,000 after purchasing an additional 5,000 shares during the period. Empowered Funds LLC purchased a new stake in shares of Joby Aviation in the third quarter worth approximately $51,000. Sound Income Strategies LLC boosted its holdings in shares of Joby Aviation by 3,311.3% during the third 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 period. Finally, International Assets Investment Management LLC lifted its position in Joby Aviation by 403.0% in the 3rd quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock worth $58,000 after buying an additional 9,188 shares in the last quarter. 52.85% of the stock is currently 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.