Joby Aviation (NYSE:JOBY) Stock Price Up 2.6% – Still a Buy?

Shares of Joby Aviation, Inc. (NYSE:JOBY) were up 2.6% on Monday . The stock traded as high as $6.86 and last traded at $6.82. Approximately 3,643,454 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 10,670,306 shares. The stock had previously closed at $6.64.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Thursday, February 27th. JPMorgan Chase & Co. cut their target price on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group increased their price objective 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. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, Joby Aviation currently has an average rating of “Moderate Buy” and a consensus price target of $8.90.

Joby Aviation Stock Down 1.3 %

The stock has a market capitalization of $5.26 billion, a P/E ratio of -9.54 and a beta of 2.35. The business’s 50 day simple moving average is $7.36 and its two-hundred day simple moving average is $6.91.

Insider Activity at Joby Aviation

In related news, CEO Joeben Bevirt sold 23,886 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.08, for a total transaction of $192,998.88. Following the transaction, the chief executive officer now directly owns 768,293 shares in the company, valued at approximately $6,207,807.44. The trade was a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul Cahill Sciarra sold 333,332 shares of Joby Aviation stock in a transaction on Monday, January 13th. The stock was sold at an average price of $8.00, for a total value of $2,666,656.00. Following the sale, the director now owns 58,994,729 shares in the company, valued at $471,957,832. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,015,470 shares of company stock valued at $8,600,479. 32.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Joby Aviation

Institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC lifted its stake 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 valued at $37,000 after buying an additional 5,000 shares in the last quarter. Whittier Trust Co. bought a new position in Joby Aviation in the 4th quarter valued at $38,000. Salem Investment Counselors Inc. boosted its holdings in Joby Aviation by 5,000.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock valued at $41,000 after purchasing an additional 5,000 shares during the period. Compagnie Lombard Odier SCmA purchased a new position in shares of Joby Aviation during the 4th quarter valued at $41,000. Finally, Toronto Dominion Bank bought a new position in shares of Joby Aviation in the fourth quarter worth $41,000. Hedge funds and other 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.