Joby Aviation (NYSE:JOBY) Stock Price Up 2.3% – Still a Buy?

Shares of Joby Aviation, Inc. (NYSE:JOBY) shot up 2.3% during trading on Thursday . The company traded as high as $7.66 and last traded at $7.50. 3,317,281 shares were traded during mid-day trading, a decline of 75% from the average session volume of 13,036,676 shares. The stock had previously closed at $7.33.

Analyst Ratings Changes

A number of brokerages have commented on JOBY. JPMorgan Chase & Co. downgraded Joby Aviation from a “neutral” rating to an “underweight” rating and raised their price objective for the stock from $5.00 to $6.00 in a research report on Friday, January 10th. Canaccord Genuity Group raised their price target on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Needham & Company LLC raised their price target on Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.30.

Joby Aviation Trading Up 2.3 %

The company has a 50 day simple moving average of $8.33 and a 200-day simple moving average of $6.57. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of -10.71 and a beta of 2.33.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Kate Dehoff sold 6,205 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $8.10, for a total transaction of $50,260.50. Following the transaction, the insider now owns 215,947 shares of the company’s stock, valued at $1,749,170.70. The trade was a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul Cahill Sciarra sold 333,334 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $8.02, for a total value of $2,673,338.68. Following the transaction, the director now directly owns 58,661,395 shares in the company, valued at approximately $470,464,387.90. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,007,596 shares of company stock valued at $8,551,819. 32.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors have recently made changes to their positions in JOBY. Sanctuary Advisors LLC bought a new stake in Joby Aviation during the second quarter worth $81,000. Creative Planning increased its holdings in shares of Joby Aviation by 86.2% during the third quarter. Creative Planning now owns 55,446 shares of the company’s stock worth $279,000 after buying an additional 25,672 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in shares of Joby Aviation by 97.5% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 22,062 shares of the company’s stock worth $111,000 after buying an additional 10,889 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Joby Aviation by 45.3% during the third quarter. Private Advisor Group LLC now owns 34,513 shares of the company’s stock worth $174,000 after buying an additional 10,765 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Joby Aviation by 403.0% in the third quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock valued at $58,000 after purchasing an additional 9,188 shares during the period. 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.