Joby Aviation (NYSE:JOBY) Trading Up 0.9% – Still a Buy?

Shares of Joby Aviation, Inc. (NYSE:JOBY) were up 0.9% on Monday . The company traded as high as $10.05 and last traded at $9.86. Approximately 10,112,613 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 16,774,855 shares. The stock had previously closed at $9.77.

Wall Street Analyst Weigh In

JOBY has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. Needham & Company LLC initiated coverage on shares of Joby Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $8.00 target price on the stock. Canaccord Genuity Group reduced their price target on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 30th. Finally, HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a report on Wednesday, December 18th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $8.35.

Joby Aviation Price Performance

The company has a 50-day moving average of $7.18 and a 200-day moving average of $6.06. The company has a market cap of $7.47 billion, a PE ratio of -13.96 and a beta of 2.33.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data 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 net margin of 42,844.57% and a negative return on equity of 51.76%. The firm had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. During the same period last year, the company posted ($0.13) earnings per share. As a group, equities analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Activity

In other news, insider Didier Papadopoulos sold 6,005 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $7.65, for a total transaction of $45,938.25. Following the transaction, the insider now directly owns 54,776 shares in the company, valued at approximately $419,036.40. This represents a 9.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kate Dehoff sold 27,898 shares of Joby Aviation stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $5.50, for a total transaction of $153,439.00. Following the transaction, the insider now directly owns 199,413 shares in the company, valued at $1,096,771.50. This trade represents a 12.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,468 shares of company stock worth $640,422. 32.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Joby Aviation

A number of large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in shares of Joby Aviation by 41.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock valued at $7,521,000 after acquiring an additional 435,069 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Joby Aviation by 59.6% in the 2nd quarter. Principal Financial Group Inc. now owns 54,294 shares of the company’s stock worth $277,000 after purchasing an additional 20,280 shares during the period. Commonwealth Equity Services LLC grew its position in shares of Joby Aviation by 67.1% during the second quarter. Commonwealth Equity Services LLC now owns 102,399 shares of the company’s stock valued at $522,000 after purchasing an additional 41,128 shares in the last quarter. CIBC Asset Management Inc bought a new position in shares of Joby Aviation during the 2nd quarter valued at approximately $101,000. Finally, Rhumbline Advisers increased its stake in Joby Aviation by 26.7% during the second quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock worth $2,798,000 after acquiring an additional 115,483 shares during the last quarter. Institutional investors own 52.85% 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.