Joby Aviation (NYSE:JOBY) Stock Price Up 1.5% – Should You Buy?

Joby Aviation, Inc. (NYSE:JOBY) shot up 1.5% on Monday . The stock traded as high as $9.89 and last traded at $9.6890. 21,836,845 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 28,024,793 shares. The stock had previously closed at $9.55.

Analyst Ratings Changes

A number of brokerages have recently commented on JOBY. HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a research report on Thursday, March 12th. JPMorgan Chase & Co. reduced their price objective on Joby Aviation from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Thursday, February 26th. Oppenheimer set a $18.00 price objective on Joby Aviation in a research note on Thursday, February 26th. Canaccord Genuity Group dropped their target price on Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a report on Thursday, May 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Joby Aviation has a consensus rating of “Reduce” and an average target price of $13.06.

Joby Aviation Stock Up 1.5%

The stock has a market capitalization of $9.53 billion, a price-to-earnings ratio of -8.43 and a beta of 2.66. The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05. The business has a fifty day moving average of $9.69 and a 200 day moving average of $11.49.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.09. Joby Aviation had a negative return on equity of 60.54% and a negative net margin of 1,232.62%.The company had revenue of $24.25 million for the quarter, compared to the consensus estimate of $20.17 million. During the same quarter in the previous year, the business earned ($0.11) earnings per share. As a group, equities analysts predict that Joby Aviation, Inc. will post -0.83 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Rodrigo Brumana sold 78,489 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $11.30, for a total value of $886,925.70. Following the transaction, the chief financial officer directly owned 81,694 shares in the company, valued at approximately $923,142.20. This represents a 49.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Allison sold 74,844 shares of Joby Aviation stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $10.00, for a total transaction of $748,440.00. Following the completion of the sale, the insider owned 676,008 shares of the company’s stock, valued at $6,760,080. This trade represents a 9.97% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,584,273 shares of company stock valued at $16,344,727 over the last three months. Company insiders own 28.50% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors have recently modified their holdings of JOBY. Vanguard Group Inc. boosted its stake in shares of Joby Aviation by 13.2% in the third quarter. Vanguard Group Inc. now owns 49,948,325 shares of the company’s stock valued at $806,166,000 after purchasing an additional 5,828,189 shares during the period. Renaissance Technologies LLC boosted its position in Joby Aviation by 194.5% in the 1st quarter. Renaissance Technologies LLC now owns 4,005,200 shares of the company’s stock valued at $33,083,000 after buying an additional 2,645,200 shares during the period. Man Group plc acquired a new position in shares of Joby Aviation in the third quarter worth $40,283,000. Norges Bank acquired a new position in shares of Joby Aviation in the fourth quarter worth $32,269,000. Finally, Clear Street Group Inc. purchased a new stake in shares of Joby Aviation during the third quarter worth $36,264,000. 52.85% of the stock is owned by institutional investors and hedge funds.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.