Joby Aviation (NYSE:JOBY) Shares Up 1% – Time to Buy?

Shares of Joby Aviation, Inc. (NYSE:JOBY) traded up 1% during mid-day trading on Friday . The stock traded as high as $8.02 and last traded at $7.71. 5,451,181 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 8,473,871 shares. The stock had previously closed at $7.63.

Wall Street Analyst Weigh In

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

Joby Aviation Price Performance

The business has a 50-day simple moving average of $6.41 and a 200 day simple moving average of $5.70. The firm has a market cap of $5.95 billion, a PE ratio of -11.11 and a beta of 2.32.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. During the same quarter last year, the firm posted ($0.13) earnings per share. On average, equities analysts forecast 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 Matthew Field sold 5,643 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $5.96, for a total transaction of $33,632.28. Following the completion of the sale, the insider now owns 293,143 shares in the company, valued at approximately $1,747,132.28. This trade represents a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul Cahill Sciarra sold 166,666 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $5.15, for a total transaction of $858,329.90. Following the sale, the director now directly owns 59,828,059 shares of the company’s stock, valued at approximately $308,114,503.85. This trade represents a 0.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 535,526 shares of company stock valued at $2,745,708 over the last three months. Corporate insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

Several hedge funds have recently bought and sold shares of JOBY. Tidal Investments LLC grew its position in shares of Joby Aviation by 13.7% during the third quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock valued at $147,000 after purchasing an additional 3,522 shares in the last quarter. Geode Capital Management LLC grew its holdings in Joby Aviation by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock valued at $47,245,000 after buying an additional 670,852 shares in the last quarter. Kensington Investment Counsel LLC grew its holdings in Joby Aviation by 12.0% during the 3rd quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock valued at $172,000 after buying an additional 3,653 shares in the last quarter. EP Wealth Advisors LLC increased its stake in Joby Aviation by 15.4% in the 3rd quarter. EP Wealth Advisors LLC now owns 37,369 shares of the company’s stock worth $188,000 after acquiring an additional 5,000 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Joby Aviation by 9.5% during the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after acquiring an additional 812,248 shares during the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

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.