Joby Aviation (NYSE:JOBY) Trading 2.7% Higher – Time to Buy?

Shares of Joby Aviation, Inc. (NYSE:JOBY) rose 2.7% during trading on Friday . The stock traded as high as $5.26 and last traded at $5.24. Approximately 4,812,069 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 7,046,390 shares. The stock had previously closed at $5.10.

Analysts Set New Price Targets

JOBY has been the subject of several research reports. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 30th. Canaccord Genuity Group decreased their price objective on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th.

Joby Aviation Price Performance

The firm has a market cap of $3.71 billion, a PE ratio of -7.49 and a beta of 1.97. The stock has a 50-day moving average price of $5.31 and a 200 day moving average price of $5.30.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The business had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 49.26%. During the same quarter last year, the firm earned ($0.13) EPS. As a group, equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Didier Papadopoulos sold 6,025 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $5.33, for a total transaction of $32,113.25. Following the completion of the sale, the insider now directly owns 47,474 shares of the company’s stock, valued at $253,036.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Didier Papadopoulos sold 6,025 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $5.33, for a total transaction of $32,113.25. Following the completion of the sale, the insider now owns 47,474 shares in the company, valued at approximately $253,036.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the sale, the chief executive officer now directly owns 32,674,274 shares of the company’s stock, valued at approximately $158,470,228.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 525,499 shares of company stock valued at $2,667,151. Insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its holdings in Joby Aviation by 216.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after acquiring an additional 5,840 shares during the period. Empowered Funds LLC purchased a new position in shares of Joby Aviation in the third quarter valued at $51,000. Sound Income Strategies LLC grew its holdings in Joby Aviation by 3,311.3% during the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after purchasing an additional 10,000 shares in the last quarter. Integris Wealth Management LLC purchased a new stake in Joby Aviation during the 2nd quarter worth $54,000. Finally, Dakota Wealth Management acquired a new position in Joby Aviation in the 2nd quarter worth $56,000. Institutional investors and hedge funds own 45.54% of the company’s stock.

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.