Joby Aviation (NYSE:JOBY) Trading 1.2% Higher – Time to Buy?

Joby Aviation, Inc. (NYSE:JOBY)’s stock price rose 1.2% during trading on Thursday . The company traded as high as $6.27 and last traded at $5.97. Approximately 6,176,316 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 7,373,026 shares. The stock had previously closed at $5.90.

Wall Street Analyst Weigh In

Several research firms recently commented on JOBY. JPMorgan Chase & Co. dropped their price objective on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. 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. Canaccord Genuity Group dropped their price objective on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Finally, HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, October 2nd.

Joby Aviation Stock Down 3.0 %

The company has a market capitalization of $4.10 billion, a PE ratio of -8.19 and a beta of 1.97. The company has a 50-day moving average price of $5.43 and a two-hundred day moving average price of $5.34.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. The company had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. During the same period in the previous year, the firm earned ($0.13) EPS. As a group, equities analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity

In other news, Director Paul Cahill Sciarra sold 166,666 shares of Joby Aviation stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $5.15, for a total value of $858,329.90. Following the transaction, the director now owns 59,828,059 shares in the company, valued at approximately $308,114,503.85. The trade was a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Didier Papadopoulos sold 6,025 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $5.33, for a total value of $32,113.25. Following the sale, the insider now owns 47,474 shares of the company’s stock, valued at $253,036.42. This represents a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 525,499 shares of company stock worth $2,667,151. 32.40% of the stock is currently owned by insiders.

Institutional Trading of Joby Aviation

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Susquehanna Fundamental Investments LLC grew its holdings in shares of Joby Aviation by 1,018.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock worth $3,453,000 after purchasing an additional 616,579 shares during the last quarter. Rhumbline Advisers grew its position in shares of Joby Aviation by 26.7% in the 2nd quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock worth $2,798,000 after buying an additional 115,483 shares during the period. Vanguard Group Inc. increased its stake in shares of Joby Aviation by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after acquiring an additional 2,889,012 shares in the last quarter. ProShare Advisors LLC lifted its position in Joby Aviation by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 50,103 shares of the company’s stock valued at $269,000 after acquiring an additional 3,942 shares during the period. Finally, Cetera Advisors LLC boosted its stake in Joby Aviation by 32.9% during the first quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock worth $109,000 after acquiring an additional 5,025 shares in the last quarter. Institutional investors own 45.54% 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.