Joby Aviation (NYSE:JOBY) Shares Gap Up – Should You Buy?

Joby Aviation, Inc. (NYSE:JOBY)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $6.18, but opened at $6.38. Joby Aviation shares last traded at $6.17, with a volume of 8,811,826 shares trading hands.

Analyst Upgrades and Downgrades

JOBY has been the subject of a number of recent analyst reports. Canaccord Genuity Group reissued a “buy” rating and issued a $10.50 target price on shares of Joby Aviation in a report on Friday, October 4th. JPMorgan Chase & Co. lifted their price objective on Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, October 2nd.

Joby Aviation Trading Down 3.4 %

The firm’s 50 day moving average is $5.32 and its two-hundred day moving average is $5.28. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of -12.31 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.18). The firm had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.28 million. During the same period in the prior year, the firm earned ($0.17) EPS. As a group, equities analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity

In related news, insider Gregory Bowles sold 26,775 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $5.14, for a total transaction of $137,623.50. Following the completion of the transaction, the insider now owns 18,035 shares of the company’s stock, valued at approximately $92,699.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Joby Aviation news, insider Gregory Bowles sold 26,775 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $5.14, for a total transaction of $137,623.50. Following the completion of the sale, the insider now directly owns 18,035 shares in the company, valued at $92,699.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kate Dehoff sold 27,898 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $5.50, for a total transaction of $153,439.00. Following the sale, the insider now directly owns 199,413 shares of the company’s stock, valued at approximately $1,096,771.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 525,499 shares of company stock valued at $2,667,151 in the last 90 days. 32.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Modera Wealth Management LLC lifted its position in shares of Joby Aviation by 46.9% during the third quarter. Modera Wealth Management LLC now owns 23,500 shares of the company’s stock worth $118,000 after purchasing an additional 7,500 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of 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 purchasing an additional 9,188 shares during the last quarter. Private Advisor Group LLC grew its stake in Joby Aviation by 45.3% in the third quarter. Private Advisor Group LLC now owns 34,513 shares of the company’s stock worth $174,000 after purchasing an additional 10,765 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in Joby Aviation by 97.5% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 22,062 shares of the company’s stock valued at $111,000 after buying an additional 10,889 shares during the last quarter. Finally, Creative Planning raised its stake in Joby Aviation by 86.2% during the third quarter. Creative Planning now owns 55,446 shares of the company’s stock valued at $279,000 after buying an additional 25,672 shares in the last quarter. 45.54% 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.