Joby Aviation (NYSE:JOBY) Shares Up 3.6% – Time to Buy?

Joby Aviation, Inc. (NYSE:JOBY) shares shot up 3.6% during trading on Monday . The stock traded as high as $7.91 and last traded at $7.86. 14,010,559 shares were traded during trading, an increase of 29% from the average session volume of 10,840,079 shares. The stock had previously closed at $7.58.

Analyst Upgrades and Downgrades

JOBY has been the subject of several research analyst reports. Needham & Company LLC boosted their price objective on shares of Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Canaccord Genuity Group lifted 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. JPMorgan Chase & Co. lowered Joby Aviation from a “neutral” rating to an “underweight” rating and upped their price target for the company from $5.00 to $6.00 in a research note on Friday, January 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $9.30.

Joby Aviation Stock Performance

The firm’s 50-day simple moving average is $8.29 and its 200 day simple moving average is $6.62. The company has a market cap of $5.80 billion, a P/E ratio of -10.83 and a beta of 2.33.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, insider Didier Papadopoulos sold 7,692 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $10.00, for a total value of $76,920.00. Following the sale, the insider now directly owns 50,902 shares in the company, valued at approximately $509,020. This trade represents a 13.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joeben Bevirt sold 23,886 shares of Joby Aviation stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $8.08, for a total transaction of $192,998.88. Following the transaction, the chief executive officer now directly owns 768,293 shares in the company, valued at approximately $6,207,807.44. This represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,025,284 shares of company stock valued at $8,683,241. 32.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Joby Aviation

Large investors have recently modified their holdings of the business. Whittier Trust Co. acquired a new position in shares of Joby Aviation in the 4th quarter valued at approximately $38,000. Allworth Financial LP boosted its holdings in shares of Joby Aviation by 200.6% in the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock valued at $44,000 after buying an additional 3,320 shares during the period. Compagnie Lombard Odier SCmA bought a new stake in shares of Joby Aviation during the fourth quarter worth $41,000. Toronto Dominion Bank bought a new stake in shares of Joby Aviation during the fourth quarter worth $41,000. Finally, Salem Investment Counselors Inc. raised its holdings in shares of Joby Aviation by 5,000.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock worth $41,000 after acquiring an additional 5,000 shares during the period. 52.85% 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.