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

Shares of Joby Aviation, Inc. (NYSE:JOBY) were up 3.6% during mid-day trading on Tuesday . The stock traded as high as $16.39 and last traded at $16.34. Approximately 34,114,221 shares traded hands during trading, an increase of 25% from the average daily volume of 27,246,041 shares. The stock had previously closed at $15.77.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Morgan Stanley lifted their price target on Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, October 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price objective on shares of Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Friday, October 31st. Canaccord Genuity Group cut shares of Joby Aviation from a “buy” rating to a “hold” rating and boosted their target price for the stock from $12.00 to $17.00 in a research note on Thursday, August 7th. Finally, Wall Street Zen lowered shares of Joby Aviation from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $14.00.

Joby Aviation Stock Up 3.6%

The stock has a market cap of $13.99 billion, a PE ratio of -12.19 and a beta of 2.52. The stock has a 50-day moving average of $15.76 and a 200 day moving average of $12.97.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The firm had revenue of $22.57 million for the quarter, compared to analysts’ expectations of $0.02 million. During the same quarter last year, the firm posted ($0.21) earnings per share. The company’s revenue was up 7962.1% on a year-over-year basis. Research analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Transactions at Joby Aviation

In related news, Director Paul Cahill Sciarra sold 500,001 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $14.30, for a total value of $7,150,014.30. Following the completion of the transaction, the director directly owned 56,328,057 shares in the company, valued at approximately $805,491,215.10. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eric Allison sold 27,537 shares of Joby Aviation stock in a transaction on Monday, October 13th. The shares were sold at an average price of $16.84, for a total value of $463,723.08. Following the completion of the sale, the insider owned 692,428 shares in the company, valued at $11,660,487.52. This represents a 3.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,657,424 shares of company stock valued at $25,068,869 in the last ninety days. 32.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Joby Aviation

Institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC increased its holdings in Joby Aviation by 8.1% in the 2nd quarter. CWM LLC now owns 9,156 shares of the company’s stock valued at $97,000 after purchasing an additional 689 shares during the last quarter. GPS Wealth Strategies Group LLC grew its stake in shares of Joby Aviation by 22.5% in the third quarter. GPS Wealth Strategies Group LLC now owns 3,794 shares of the company’s stock valued at $61,000 after buying an additional 697 shares in the last quarter. Asset Planning Inc raised its holdings in shares of Joby Aviation by 70.0% in the 3rd quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock valued at $27,000 after buying an additional 700 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Joby Aviation by 4.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 16,705 shares of the company’s stock valued at $270,000 after acquiring an additional 736 shares during the period. Finally, Allworth Financial LP grew its position in Joby Aviation by 11.9% in the 2nd quarter. Allworth Financial LP now owns 7,197 shares of the company’s stock valued at $76,000 after acquiring an additional 763 shares in the last quarter. 52.85% of the stock is owned by hedge funds and other 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.