Joby Aviation (NYSE:JOBY) Trading 4.9% Higher – Should You Buy?

Joby Aviation, Inc. (NYSE:JOBY)’s stock price rose 4.9% on Friday . The company traded as high as $8.77 and last traded at $8.63. Approximately 4,483,075 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 13,822,883 shares. The stock had previously closed at $8.23.

Analysts Set New Price Targets

JOBY has been the subject of several research reports. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, December 18th. JPMorgan Chase & Co. cut Joby Aviation from a “neutral” rating to an “underweight” rating and lifted their target price for the company from $5.00 to $6.00 in a research note on Friday, January 10th. Canaccord Genuity Group raised their price target on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Needham & Company LLC raised their price objective on shares of Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Joby Aviation currently has a consensus rating of “Moderate Buy” and an average price target of $9.30.

Joby Aviation Price Performance

The business’s 50-day moving average is $8.37 and its two-hundred day moving average is $6.50. The firm has a market cap of $6.46 billion, a P/E ratio of -12.07 and a beta of 2.33.

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 firm 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 period in the prior year, the company earned ($0.13) earnings per share. Equities research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Transactions at Joby Aviation

In other news, Director Paul Cahill Sciarra sold 333,332 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $8.00, for a total transaction of $2,666,656.00. Following the transaction, the director now owns 58,994,729 shares of the company’s stock, valued at $471,957,832. This represents a 0.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Bonny W. Simi sold 31,489 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $8.33, for a total transaction of $262,303.37. Following the completion of the transaction, the insider now directly owns 137,097 shares in the company, valued at $1,142,018.01. This trade represents a 18.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 672,338 shares of company stock valued at $5,864,050. Company insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Large investors have recently modified their holdings of the stock. Baillie Gifford & Co. lifted its holdings in Joby Aviation by 4.3% during the fourth quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company’s stock valued at $447,412,000 after purchasing an additional 2,281,161 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Joby Aviation by 7.7% during 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 period. State Street Corp increased its holdings in Joby Aviation by 9.5% during the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company’s stock worth $47,144,000 after acquiring an additional 812,248 shares during the period. Rheos Capital Works Inc. raised its position in shares of Joby Aviation by 17.0% in 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 in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Joby Aviation by 8.6% during the 4th quarter. Rhumbline Advisers now owns 594,419 shares of the company’s stock valued at $4,833,000 after acquiring an additional 47,070 shares during 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.