Joby Aviation (NYSE:JOBY) Shares Up 1.5% – Time to Buy?

Joby Aviation, Inc. (NYSE:JOBY)’s share price traded up 1.5% on Wednesday . The stock traded as high as $14.32 and last traded at $14.1440. 10,846,359 shares were traded during trading, a decline of 60% from the average session volume of 26,962,826 shares. The stock had previously closed at $13.94.

Analyst Upgrades and Downgrades

JOBY has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a report on Wednesday, October 8th. Needham & Company LLC reiterated a “buy” rating and set a $22.00 price target on shares of Joby Aviation in a report on Thursday, November 6th. Canaccord Genuity Group cut Joby Aviation from a “buy” rating to a “hold” rating and increased their price target for the stock from $12.00 to $17.00 in a report on Thursday, August 7th. Morgan Stanley lifted their price objective 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. Finally, Wall Street Zen downgraded shares of Joby Aviation from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $14.00.

Joby Aviation Price Performance

The company has a market cap of $13.17 billion, a PE ratio of -10.78 and a beta of 2.52. The stock has a 50 day simple moving average of $15.91 and a two-hundred day simple moving average of $13.58.

Joby Aviation (NYSE:JOBY) last announced its 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 analyst estimates of $0.02 million. During the same period last year, the business earned ($0.21) EPS. The business’s revenue for the quarter was up 7962.1% on a year-over-year basis. As a group, equities analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity

In other news, Director Paul Cahill Sciarra sold 500,001 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $14.30, for a total transaction of $7,150,014.30. Following the transaction, the director directly owned 56,328,057 shares of the company’s stock, valued at $805,491,215.10. This represents a 0.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Didier Papadopoulos sold 15,439 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $16.78, for a total transaction of $259,066.42. Following the completion of the transaction, the insider owned 103,206 shares of the company’s stock, valued at $1,731,796.68. This represents a 13.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,154,802 shares of company stock valued at $17,844,775 over the last ninety days. 28.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Asset Planning Inc grew 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 worth $27,000 after acquiring an additional 700 shares during the period. EverSource Wealth Advisors LLC boosted its position in Joby Aviation by 284.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock worth $27,000 after purchasing an additional 1,880 shares in the last quarter. Canton Hathaway LLC acquired a new stake in Joby Aviation in the third quarter valued at $29,000. Strategic Advocates LLC purchased a new position in shares of Joby Aviation in the third quarter valued at $29,000. Finally, Hilltop National Bank acquired a new position in shares of Joby Aviation during the 3rd quarter worth $32,000. 52.85% of the stock is owned by hedge funds and other institutional investors.

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.