Joby Aviation (NYSE:JOBY) Shares Up 2.7% – Should You Buy?

Joby Aviation, Inc. (NYSE:JOBY) was up 2.7% during mid-day trading on Monday . The stock traded as high as $5.35 and last traded at $5.30. Approximately 7,410,800 shares changed hands during trading, an increase of 11% from the average daily volume of 6,656,752 shares. The stock had previously closed at $5.16.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on JOBY. HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, October 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th. Canaccord Genuity Group cut their price objective on Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective 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.

Joby Aviation Trading Down 5.0 %

The stock has a market cap of $3.58 billion, a P/E ratio of -10.21 and a beta of 1.97. The firm has a 50-day simple moving average of $5.32 and a two-hundred day simple moving average of $5.29.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, hitting analysts’ consensus estimates of ($0.18). The business had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.28 million. During the same period in the prior year, the business posted ($0.17) earnings per share. Sell-side analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Activity

In related news, Director Paul Cahill Sciarra sold 166,666 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $5.15, for a total transaction of $858,329.90. Following the sale, the director now owns 59,828,059 shares of the company’s stock, valued at $308,114,503.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the completion of the sale, the chief executive officer now owns 32,674,274 shares of the company’s stock, valued at approximately $158,470,228.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 stock was sold at an average price of $5.15, for a total transaction of $858,329.90. Following the sale, the director now owns 59,828,059 shares in the company, valued at $308,114,503.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 525,499 shares of company stock worth $2,667,151. Corporate insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its holdings in shares of Joby Aviation by 216.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after buying an additional 5,840 shares in the last quarter. Sound Income Strategies LLC raised its stake in Joby Aviation by 3,311.3% during the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock worth $52,000 after acquiring an additional 10,000 shares in the last quarter. Integris Wealth Management LLC bought a new position in shares of Joby Aviation in the second quarter worth about $54,000. Dakota Wealth Management acquired a new stake in shares of Joby Aviation in the 2nd quarter valued at approximately $56,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in Joby Aviation during the 2nd quarter worth approximately $57,000. 45.54% of the stock is currently owned by institutional investors.

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.