Joby Aviation (NYSE:JOBY) Trading Up 1.1% – Should You Buy?

Shares of Joby Aviation, Inc. (NYSE:JOBY) were up 1.1% during trading on Wednesday . The stock traded as high as $6.59 and last traded at $6.25. Approximately 10,377,198 shares were traded during mid-day trading, an increase of 67% from the average daily volume of 6,200,235 shares. The stock had previously closed at $6.18.

Wall Street Analyst Weigh In

JOBY has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a report on Wednesday, October 2nd. JPMorgan Chase & Co. increased their price target on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $10.50 target price on shares of Joby Aviation in a research note on Friday, October 4th.

Joby Aviation Stock Performance

The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of -12.31 and a beta of 1.97. The company has a 50 day moving average price of $5.32 and a two-hundred day moving average price of $5.28.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.18). The company had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.28 million. During the same quarter in the prior year, the company posted ($0.17) earnings per share. On average, equities analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the sale, the chief executive officer now owns 32,674,274 shares of the company’s stock, valued at $158,470,228.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Gregory Bowles sold 26,775 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $5.14, for a total value of $137,623.50. Following the completion of the sale, the insider now directly owns 18,035 shares in the company, valued at $92,699.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total value of $1,212,500.00. Following the transaction, the chief executive officer now owns 32,674,274 shares in the company, valued at approximately $158,470,228.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 525,499 shares of company stock worth $2,667,151. Corporate insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

Large investors have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC boosted its position in shares of Joby Aviation by 1,018.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after acquiring an additional 616,579 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Joby Aviation by 215.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,682 shares of the company’s stock worth $1,965,000 after buying an additional 270,794 shares during the period. Rhumbline Advisers increased its position in shares of Joby Aviation by 26.7% during the second quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock valued at $2,798,000 after acquiring an additional 115,483 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Joby Aviation by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock valued at $185,776,000 after acquiring an additional 2,889,012 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Joby Aviation by 84.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 202,223 shares of the company’s stock worth $1,084,000 after acquiring an additional 92,508 shares during the last quarter. 45.54% of the stock is currently 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.