Joby Aviation (NYSE:JOBY) Stock Price Up 3.8% – Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY)’s stock price traded up 3.8% on Wednesday . The stock traded as high as $8.62 and last traded at $8.20. 8,597,809 shares were traded during trading, an increase of 8% from the average session volume of 7,929,396 shares. The stock had previously closed at $7.90.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Wednesday, October 2nd. Canaccord Genuity Group cut their price target on Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lowered their price objective on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. Needham & Company LLC began coverage on Joby Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $8.00 target price for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 30th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $8.35.

Joby Aviation Trading Up 1.3 %

The stock has a 50-day moving average price of $5.77 and a two-hundred day moving average price of $5.45.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The firm had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same quarter in the prior year, the business earned ($0.13) EPS. As a group, sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Buying and Selling

In other news, CEO Joeben Bevirt sold 250,000 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 32,674,274 shares of the company’s stock, valued at $158,470,228.90. This trade represents a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Didier Papadopoulos sold 6,025 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $5.33, for a total value of $32,113.25. Following the transaction, the insider now directly owns 47,474 shares in the company, valued at approximately $253,036.42. This represents a 11.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 535,526 shares of company stock worth $2,745,708. Insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

A number of institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC raised its stake in shares of Joby Aviation by 218.3% in the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after acquiring an additional 5,000 shares during the period. Nisa Investment Advisors LLC raised its position in Joby Aviation by 216.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after purchasing an additional 5,840 shares during the period. Empowered Funds LLC bought a new stake in Joby Aviation in the third quarter worth about $51,000. Sound Income Strategies LLC boosted its position in shares of Joby Aviation by 3,311.3% during the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after buying an additional 10,000 shares during the period. Finally, Integris Wealth Management LLC bought a new position in shares of Joby Aviation during the second quarter valued at approximately $54,000. 45.54% of the stock is currently owned by 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.