Joby Aviation (NYSE:JOBY) Stock Price Up 2.3% – Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY) rose 2.3% on Thursday . The company traded as high as $7.66 and last traded at $7.50. Approximately 3,317,281 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 13,036,676 shares. The stock had previously closed at $7.33.

Analyst Ratings Changes

A number of brokerages have commented on JOBY. Canaccord Genuity Group upped their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. cut shares of Joby Aviation from a “neutral” rating to an “underweight” rating and upped their price target for the company from $5.00 to $6.00 in a research report on Friday, January 10th. Needham & Company LLC upped their price target on shares of Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $9.30.

Joby Aviation Trading Up 2.3 %

The company has a market cap of $5.73 billion, a P/E ratio of -10.71 and a beta of 2.33. The stock’s 50-day moving average price is $8.33 and its 200-day moving average price is $6.57.

Insider Buying and Selling at Joby Aviation

In related news, Director Paul Cahill Sciarra sold 333,334 shares of Joby Aviation stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $8.02, for a total value of $2,673,338.68. Following the completion of the transaction, the director now directly owns 58,661,395 shares in the company, valued at approximately $470,464,387.90. The trade was a 0.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Didier Papadopoulos sold 6,005 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $7.65, for a total transaction of $45,938.25. Following the sale, the insider now directly owns 54,776 shares in the company, valued at $419,036.40. The trade was a 9.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,007,596 shares of company stock worth $8,551,819. Insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

A number of institutional investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. increased its position in shares of Joby Aviation by 4.3% during the 4th 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. Vanguard Group Inc. boosted its holdings in Joby Aviation by 15.8% during the 4th quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company’s stock valued at $380,163,000 after acquiring an additional 6,388,232 shares during the period. Geode Capital Management LLC boosted its holdings in Joby Aviation by 8.7% during the 4th quarter. Geode Capital Management LLC now owns 10,208,358 shares of the company’s stock valued at $83,015,000 after acquiring an additional 817,638 shares during the period. State Street Corp boosted 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 valued at $47,144,000 after acquiring an additional 812,248 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Joby Aviation by 10.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company’s stock valued at $31,661,000 after acquiring an additional 361,520 shares during the period. Hedge funds and other institutional investors own 52.85% 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.