Joby Aviation (NYSE:JOBY) Stock Price Up 1.5% – Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY) shares traded up 1.5% on Tuesday . The stock traded as high as $8.25 and last traded at $8.18. 3,997,669 shares were traded during trading, a decline of 71% from the average session volume of 13,628,622 shares. The stock had previously closed at $8.06.

Analyst Ratings Changes

JOBY has been the topic of a number of research reports. HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, December 18th. Canaccord Genuity Group boosted their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. cut Joby Aviation from a “neutral” rating to an “underweight” rating and raised their price objective for the company from $5.00 to $6.00 in a report on Friday, January 10th. Finally, Needham & Company LLC raised their price target on 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.30.

Joby Aviation Stock Down 2.4 %

The stock has a market cap of $6.01 billion, a P/E ratio of -11.22 and a beta of 2.33. The firm has a 50 day simple moving average of $8.39 and a 200-day simple moving average of $6.53.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The company 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 quarter in the prior year, the firm earned ($0.13) earnings per share. On average, equities analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Buying and Selling at Joby Aviation

In other news, Director Paul Cahill Sciarra sold 333,334 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $8.02, for a total transaction of $2,673,338.68. Following the transaction, the director now owns 58,661,395 shares in the company, valued at approximately $470,464,387.90. This trade represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joeben Bevirt sold 23,886 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.08, for a total value of $192,998.88. Following the completion of the sale, the chief executive officer now owns 768,293 shares of the company’s stock, valued at $6,207,807.44. This trade represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,005,672 shares of company stock valued at $8,537,389 in the last three months. 32.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds have recently bought and sold shares of the business. Larson Financial Group LLC grew its position in shares of Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after purchasing an additional 5,000 shares in the last quarter. Salem Investment Counselors Inc. grew its position in Joby Aviation by 5,000.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock worth $41,000 after buying an additional 5,000 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in Joby Aviation during the 4th quarter worth $41,000. Golden State Wealth Management LLC acquired a new position in Joby Aviation in the 4th quarter valued at $42,000. Finally, Allworth Financial LP lifted its position in shares of Joby Aviation by 200.6% during the 4th quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock valued at $44,000 after acquiring an additional 3,320 shares during the period. 52.85% of the stock is owned by institutional investors.

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.