Joby Aviation (NYSE:JOBY) Trading 0.4% Higher – Time to Buy?

Joby Aviation, Inc. (NYSE:JOBY) shares shot up 0.4% during trading on Thursday . The company traded as high as $6.00 and last traded at $5.82. 4,168,677 shares traded hands during trading, a decline of 63% from the average session volume of 11,288,155 shares. The stock had previously closed at $5.79.

Analyst Ratings Changes

Several equities research analysts have issued reports on JOBY shares. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. JPMorgan Chase & Co. decreased their price objective on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. Canaccord Genuity Group upped their target price on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $7.00 price target (down previously from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $8.58.

Joby Aviation Price Performance

The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of -8.46 and a beta of 2.35. The business’s 50-day moving average price is $6.50 and its 200 day moving average price is $6.96.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Bonny W. Simi sold 31,489 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $8.33, for a total transaction of $262,303.37. Following the transaction, the insider now directly owns 137,097 shares in the company, valued at $1,142,018.01. This represents a 18.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul Cahill Sciarra sold 333,334 shares of Joby Aviation stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $8.02, for a total transaction of $2,673,338.68. Following the completion of the transaction, the director now directly owns 58,661,395 shares of the company’s stock, valued at approximately $470,464,387.90. This represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 854,601 shares of company stock valued at $6,017,225. Insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in Joby Aviation by 773.9% in the first quarter. GAMMA Investing LLC now owns 5,663 shares of the company’s stock valued at $34,000 after buying an additional 5,015 shares during the last quarter. Whittier Trust Co. bought a new stake in Joby Aviation in the 4th quarter valued at about $38,000. Salem Investment Counselors Inc. boosted its stake in Joby Aviation by 5,000.0% during 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 bought a new position in Joby Aviation in the 4th quarter worth about $41,000. Finally, Toronto Dominion Bank acquired a new stake in shares of Joby Aviation in the fourth quarter valued at approximately $41,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

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.