Joby Aviation (NYSE:JOBY) Stock Price Up 6.1% – Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY)’s share price traded up 6.1% during trading on Friday . The company traded as high as $9.23 and last traded at $9.20. 5,506,583 shares changed hands during trading, a decline of 64% from the average session volume of 15,343,476 shares. The stock had previously closed at $8.67.

Analyst Ratings Changes

A number of analysts have issued reports on JOBY shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 30th. Needham & Company LLC increased their target price on shares of Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, December 18th. JPMorgan Chase & Co. cut Joby Aviation from a “neutral” rating to an “underweight” rating and increased their price objective for the company from $5.00 to $6.00 in a research note on Friday, January 10th. Finally, 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 note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.30.

Joby Aviation Trading Up 1.0 %

The firm has a market capitalization of $6.70 billion, a price-to-earnings ratio of -12.51 and a beta of 2.33. The stock’s fifty day moving average price is $8.20 and its two-hundred day moving average price is $6.43.

Joby Aviation (NYSE:JOBY) last announced its quarterly 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). 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 period last year, the firm earned ($0.13) earnings per share. Analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Gregory Bowles sold 7,748 shares of the company’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 completion of the transaction, the insider now owns 29,235 shares in the company, valued at $236,218.80. This represents a 20.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bonny W. Simi sold 31,489 shares of Joby Aviation stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $8.33, for a total value of $262,303.37. Following the sale, the insider now owns 137,097 shares in the company, valued at $1,142,018.01. This trade represents a 18.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 672,338 shares of company stock valued at $5,864,050 over the last three months. 32.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Joby Aviation

Several large investors have recently modified their holdings of the company. State Street Corp raised its position 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 purchasing an additional 812,248 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Joby Aviation by 7.7% in the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock valued at $47,245,000 after buying an additional 670,852 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted its stake in shares of Joby Aviation by 1,018.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock worth $3,453,000 after buying an additional 616,579 shares during the period. Rheos Capital Works Inc. grew its holdings in shares of Joby Aviation by 17.0% during the fourth quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company’s stock worth $19,553,000 after buying an additional 350,000 shares during the last quarter. Finally, Holocene Advisors LP lifted its stake in shares of Joby Aviation by 91.7% in the 3rd quarter. Holocene Advisors LP now owns 521,327 shares of the company’s stock worth $2,622,000 after acquiring an additional 249,375 shares during the period. 52.85% of the stock is owned by institutional investors and hedge funds.

Joby Aviation Company Profile

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.