Joby Aviation (NYSE:JOBY) Trading Up 13.6% – Should You Buy?

Joby Aviation, Inc. (NYSE:JOBY)’s stock price was up 13.6% during mid-day trading on Friday . The company traded as high as $9.33 and last traded at $9.09. Approximately 15,902,642 shares traded hands during trading, an increase of 98% from the average daily volume of 8,014,574 shares. The stock had previously closed at $8.00.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on JOBY shares. HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a report on Wednesday, October 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th. Needham & Company LLC initiated coverage on Joby Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $8.00 price target on the stock. Canaccord Genuity Group reduced their price target on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. reduced their price target on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $8.35.

Joby Aviation Stock Performance

The stock has a market capitalization of $6.90 billion, a P/E ratio of -12.99 and a beta of 1.97. The stock has a 50 day moving average of $5.77 and a 200 day moving average of $5.45.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data 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 in the previous year, the company earned ($0.13) earnings per share. On average, research analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Transactions at Joby Aviation

In other news, insider Didier Papadopoulos sold 6,025 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $5.33, for a total value of $32,113.25. Following the completion of the transaction, the insider now owns 47,474 shares of the company’s stock, valued at approximately $253,036.42. This represents a 11.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 sale, the insider now owns 29,235 shares of the company’s stock, valued at approximately $236,218.80. This trade represents a 20.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 535,526 shares of company stock valued at $2,745,708. 32.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Joby Aviation

Institutional investors have recently modified their holdings of the company. Larson Financial Group LLC lifted 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 holdings in shares of Joby Aviation by 216.3% in the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after buying an additional 5,840 shares during the period. Empowered Funds LLC acquired a new stake in shares of Joby Aviation in the third quarter valued at $51,000. Sound Income Strategies LLC lifted its holdings in shares of Joby Aviation by 3,311.3% in the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after buying an additional 10,000 shares during the period. Finally, Integris Wealth Management LLC acquired a new stake in shares of Joby Aviation in the second quarter valued at $54,000. Institutional investors and hedge funds own 45.54% of the company’s stock.

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.