Joby Aviation (NYSE:JOBY) Shares Up 3.1% – Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY)’s stock price traded up 3.1% during trading on Friday . The company traded as high as $7.29 and last traded at $7.01. 9,583,964 shares changed hands during mid-day trading, an increase of 25% from the average session volume of 7,660,761 shares. The stock had previously closed at $6.80.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on JOBY. JPMorgan Chase & Co. cut 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. Canaccord Genuity Group decreased their price objective on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a report on Tuesday, October 29th. Needham & Company LLC assumed coverage on shares of Joby Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $8.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Wednesday, October 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research note on Monday, September 30th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $8.35.

Joby Aviation Stock Up 4.3 %

The firm’s 50-day moving average price is $5.54 and its 200 day moving average price is $5.37. The firm has a market cap of $5.42 billion, a P/E ratio of -10.13 and a beta of 1.97.

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

Insider Transactions at Joby Aviation

In other news, insider Kate Dehoff sold 27,898 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $5.50, for a total value of $153,439.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Didier Papadopoulos sold 6,025 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $5.33, for a total value of $32,113.25. Following the sale, the insider now directly owns 47,474 shares in the company, valued at approximately $253,036.42. The trade was a 11.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 527,778 shares of company stock valued at $2,683,104. 32.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings 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 purchasing an additional 2,889,012 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Joby Aviation by 7.7% in the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock valued at $47,245,000 after buying an additional 670,852 shares in the last quarter. State Street Corp lifted its position in shares of Joby Aviation by 9.5% during the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after acquiring an additional 812,248 shares during the last quarter. Ieq Capital LLC boosted its stake in shares of Joby Aviation by 68.6% during the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after acquiring an additional 1,807,054 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Joby Aviation by 41.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock worth $7,521,000 after acquiring an additional 435,069 shares during the last quarter. 45.54% of the stock is currently owned by institutional investors.

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.