Joby Aviation (NYSE:JOBY) Stock Price Up 3.6% – Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY)’s stock price was up 3.6% during trading on Monday . The company traded as high as $7.91 and last traded at $7.86. Approximately 14,010,559 shares were traded during mid-day trading, an increase of 29% from the average daily volume of 10,840,079 shares. The stock had previously closed at $7.58.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on JOBY shares. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, December 18th. Canaccord Genuity Group boosted their price objective on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. cut Joby Aviation from a “neutral” rating to an “underweight” rating and raised their target price for the stock from $5.00 to $6.00 in a research note on Friday, January 10th. Finally, Needham & Company LLC boosted 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 equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.30.

Joby Aviation Trading Up 3.6 %

The stock’s 50-day moving average price is $8.30 and its 200-day moving average price is $6.60. The company has a market cap of $6.01 billion, a P/E ratio of -11.22 and a beta of 2.33.

Insiders Place Their Bets

In related news, insider Gregory Bowles sold 7,748 shares of Joby Aviation stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $8.08, for a total transaction of $62,603.84. Following the transaction, the insider now owns 29,235 shares of the company’s stock, valued at $236,218.80. The trade was a 20.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Didier Papadopoulos sold 6,005 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $7.65, for a total value of $45,938.25. Following the completion of the sale, the insider now directly owns 54,776 shares of the company’s stock, valued at $419,036.40. The trade was a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,025,284 shares of company stock worth $8,683,241. Corporate insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its stake in Joby Aviation by 218.3% in the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after acquiring an additional 5,000 shares during the period. Whittier Trust Co. bought a new stake in shares of Joby Aviation in the fourth quarter valued at approximately $38,000. Salem Investment Counselors Inc. lifted its stake in shares of Joby Aviation by 5,000.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock valued at $41,000 after buying an additional 5,000 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in Joby Aviation in the 4th quarter worth approximately $41,000. Finally, Golden State Wealth Management LLC purchased a new position in Joby Aviation in the 4th quarter valued at approximately $42,000. 52.85% of the stock is currently owned by hedge funds and other 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.