Joby Aviation (NYSE:JOBY) Stock Price Up 6.4% – Should You Buy?

Joby Aviation, Inc. (NYSE:JOBY) shares shot up 6.4% during trading on Monday . The stock traded as high as $13.96 and last traded at $13.91. 19,981,643 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 27,093,436 shares. The stock had previously closed at $13.07.

Analysts Set New Price Targets

Several research analysts have recently weighed in on JOBY shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a research report on Wednesday, October 8th. HC Wainwright reiterated a “neutral” rating on shares of Joby Aviation in a research report on Monday. Canaccord Genuity Group lowered Joby Aviation from a “buy” rating to a “hold” rating and increased their target price for the company from $12.00 to $17.00 in a report on Thursday, August 7th. Morgan Stanley raised their target price on Joby Aviation from $7.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 9th. Finally, Zacks Research raised Joby Aviation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $14.00.

Joby Aviation Trading Up 6.4%

The company has a market cap of $12.68 billion, a PE ratio of -10.38 and a beta of 2.52. The business’s 50-day simple moving average is $15.93 and its 200-day simple moving average is $13.52.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.48) EPS 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 quarter in the prior year, the company posted ($0.21) EPS. The firm’s quarterly revenue was up 7962.1% compared to the same quarter last year. On average, research analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Transactions at Joby Aviation

In related news, insider Eric Allison sold 27,537 shares of the business’s stock in a transaction that occurred on Monday, October 13th. The stock was 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 of the company’s stock, valued at approximately $11,660,487.52. The trade was a 3.82% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kate Dehoff sold 52,907 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $15.76, for a total value of $833,814.32. Following the completion of the transaction, the insider owned 149,369 shares in the company, valued at $2,354,055.44. This represents a 26.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,146,267 shares of company stock valued at $17,729,562. Corporate insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

Several large investors have recently added to or reduced their stakes in JOBY. CIBC Bancorp USA Inc. bought a new position in shares of Joby Aviation during the 3rd quarter valued at $794,000. Centaurus Financial Inc. increased its position in Joby Aviation by 69.2% during the third quarter. Centaurus Financial Inc. now owns 21,709 shares of the company’s stock worth $350,000 after buying an additional 8,882 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in Joby Aviation by 29,462.5% during the third quarter. Sunbelt Securities Inc. now owns 11,825 shares of the company’s stock valued at $191,000 after buying an additional 11,785 shares in the last quarter. Advisory Services Network LLC bought a new position in Joby Aviation during the third quarter valued at about $75,000. Finally, Jasper Ridge Partners L.P. acquired a new stake in shares of Joby Aviation in the third quarter worth about $1,452,000. 52.85% of the stock is 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.