Joby Aviation (NYSE:JOBY) Stock Price Up 1.2% – Time to Buy?

Joby Aviation, Inc. (NYSE:JOBY) rose 1.2% on Monday . The stock traded as high as $7.96 and last traded at $7.87. Approximately 5,696,867 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 12,990,051 shares. The stock had previously closed at $7.78.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on JOBY shares. 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. JPMorgan Chase & Co. cut Joby Aviation from a “neutral” rating to an “underweight” rating and upped their price objective for the stock from $5.00 to $6.00 in a research note on Friday, January 10th. Needham & Company LLC raised their target price on shares of Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, Canaccord Genuity Group upped their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.30.

Joby Aviation Trading Down 0.4 %

The business has a 50 day moving average of $8.35 and a two-hundred day moving average of $6.57. The firm has a market cap of $5.61 billion, a P/E ratio of -10.47 and a beta of 2.33.

Insider Transactions at Joby Aviation

In related news, insider Kate Dehoff sold 6,205 shares of Joby Aviation stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $8.10, for a total value of $50,260.50. Following the transaction, the insider now directly owns 215,947 shares of the company’s stock, valued at $1,749,170.70. This trade represents a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul Cahill Sciarra sold 333,334 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $470,464,387.90. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,005,672 shares of company stock worth $8,537,389. 32.40% of the stock is owned by insiders.

Institutional Trading of Joby Aviation

Hedge funds have recently made changes to their positions in the company. Whittier Trust Co. acquired a new position in shares of Joby Aviation in the 4th quarter worth approximately $38,000. Allworth Financial LP increased its position in shares of Joby Aviation by 200.6% during the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock worth $44,000 after acquiring an additional 3,320 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in shares of Joby Aviation in the fourth quarter worth approximately $41,000. Salem Investment Counselors Inc. grew its stake in shares of Joby Aviation by 5,000.0% in the 4th 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 in the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in Joby Aviation in the 4th quarter worth about $42,000. 52.85% of the stock is owned by institutional investors and hedge funds.

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.