Joby Aviation, Inc. (NYSE:JOBY) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $8.58.

JOBY has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their target price on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a research report on Thursday, February 27th. Cantor Fitzgerald restated an "overweight" rating and issued a $9.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. 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 report on Wednesday, January 8th. HC Wainwright restated a "buy" rating and set a $9.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $7.00 price objective (down previously from $10.00) on shares of Joby Aviation in a research note on Friday.

Joby Aviation Trading Down 3.0 %

Shares of NYSE:JOBY traded down $0.18 during midday trading on Friday, hitting $5.84. The stock had a trading volume of 6,199,746 shares, compared to its average volume of 11,242,447. The stock has a 50 day moving average price of $6.58 and a two-hundred day moving average price of $6.98. Joby Aviation has a 1 year low of $4.50 and a 1 year high of $10.72. The company has a market capitalization of $4.60 billion, a PE ratio of -8.34 and a beta of 2.35.

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Insider Activity at Joby Aviation

In other Joby Aviation news, Director Paul Cahill Sciarra sold 333,334 shares of Joby Aviation stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $8.02, for a total value of $2,673,338.68. Following the completion of the transaction, the director now owns 58,661,395 shares of the company's stock, valued at $470,464,387.90. The trade was a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Bonny W. Simi sold 31,489 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $8.33, for a total transaction of $262,303.37. Following the sale, the insider now directly owns 137,097 shares in the company, valued at $1,142,018.01. This trade represents a 18.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 832,073 shares of company stock valued at $5,885,469 over the last ninety days. Corporate insiders own 32.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in shares of Joby Aviation by 773.9% during the first quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock valued at $34,000 after acquiring an additional 5,015 shares during the period. Whittier Trust Co. acquired a new stake in shares of Joby Aviation in the fourth quarter valued at approximately $38,000. 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 valued at $41,000 after buying an additional 5,000 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in Joby Aviation in the 4th quarter valued at approximately $41,000. Finally, Toronto Dominion Bank acquired a new position in Joby Aviation during the 4th quarter worth $41,000. Institutional investors and hedge funds own 52.85% 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.