Joby Aviation (NYSE:JOBY) Trading Up 13.6% – Should You Buy?

Joby Aviation, Inc. (NYSE:JOBY) was up 13.6% during trading on Friday . The stock traded as high as $9.33 and last traded at $9.09. Approximately 15,902,642 shares changed hands during trading, an increase of 98% from the average daily volume of 8,014,574 shares. The stock had previously closed at $8.00.

Analyst Ratings Changes

Several equities research analysts have recently commented on JOBY shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a report on Monday, September 30th. Needham & Company LLC started coverage on Joby Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $8.00 target price for the company. JPMorgan Chase & Co. reduced their target price on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a report on Wednesday, October 2nd. Finally, Canaccord Genuity Group reduced their target price on Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Joby Aviation currently has a consensus rating of “Moderate Buy” and an average price target of $8.35.

Joby Aviation Stock Performance

The firm has a 50 day moving average of $5.77 and a 200-day moving average of $5.45. The stock has a market capitalization of $6.90 billion, a PE ratio of -12.99 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The firm had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. During the same period in the previous year, the company earned ($0.13) earnings per share. On average, sell-side analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Paul Cahill Sciarra sold 166,666 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $5.15, for a total transaction of $858,329.90. Following the transaction, the director now owns 59,828,059 shares of the company’s stock, valued at approximately $308,114,503.85. This represents a 0.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total value of $1,212,500.00. Following the transaction, the chief executive officer now directly owns 32,674,274 shares in the company, valued at approximately $158,470,228.90. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 535,526 shares of company stock valued at $2,745,708 in the last three months. Insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Joby Aviation by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock valued at $185,776,000 after buying an additional 2,889,012 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Joby Aviation by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 193,322 shares of the company’s stock valued at $1,037,000 after buying an additional 10,234 shares during the last quarter. Cetera Advisors LLC grew its holdings in Joby Aviation by 32.9% in the 1st quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock valued at $109,000 after buying an additional 5,025 shares during the last quarter. DNB Asset Management AS grew its holdings in Joby Aviation by 21.1% in the 2nd quarter. DNB Asset Management AS now owns 88,906 shares of the company’s stock valued at $453,000 after buying an additional 15,504 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Joby Aviation by 346.4% in the 2nd quarter. SG Americas Securities LLC now owns 336,062 shares of the company’s stock valued at $1,714,000 after buying an additional 260,780 shares during the last quarter. Institutional investors and hedge funds own 45.54% 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.