Joby Aviation (NYSE:JOBY) Shares Up 11.1% - Should You Buy?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) shares rose 11.1% during trading on Monday . The stock traded as high as $5.80 and last traded at $5.79. Approximately 9,288,836 shares were traded during mid-day trading, an increase of 31% from the average daily volume of 7,100,063 shares. The stock had previously closed at $5.21.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Joby Aviation from $6.00 to $5.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 29th. HC Wainwright restated a "buy" rating and set a $9.00 price target on shares of Joby Aviation in a report on Wednesday, October 2nd. Canaccord Genuity Group lowered their price target on Joby Aviation from $10.50 to $9.75 and set a "buy" rating for the company in a research report on Tuesday, October 29th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 30th.

Joby Aviation Price Performance

The firm has a fifty day moving average price of $5.31 and a two-hundred day moving average price of $5.31. The stock has a market capitalization of $4.39 billion, a PE ratio of -8.27 and a beta of 1.97.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates 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 return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter in the previous year, the business earned ($0.13) EPS. On average, research analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Matthew Field sold 5,643 shares of Joby Aviation stock in a transaction on Monday, October 7th. The stock was sold at an average price of $5.96, for a total transaction of $33,632.28. Following the completion of the sale, the insider now directly owns 293,143 shares of the company's stock, valued at $1,747,132.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Joby Aviation news, insider Gregory Bowles sold 26,775 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $5.14, for a total transaction of $137,623.50. Following the sale, the insider now owns 18,035 shares of the company's stock, valued at approximately $92,699.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Matthew Field sold 5,643 shares of Joby Aviation stock in a transaction on Monday, October 7th. The shares were sold at an average price of $5.96, for a total value of $33,632.28. Following the completion of the transaction, the insider now owns 293,143 shares in the company, valued at $1,747,132.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 525,499 shares of company stock worth $2,667,151 in the last 90 days. 32.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors have recently added to or reduced their stakes in JOBY. Flaharty Asset Management LLC boosted its holdings in shares of Joby Aviation by 25.0% in the 2nd quarter. Flaharty Asset Management LLC now owns 15,000 shares of the company's stock valued at $76,000 after buying an additional 3,000 shares in the last quarter. ProShare Advisors LLC boosted its stake in Joby Aviation by 8.5% in the first quarter. ProShare Advisors LLC now owns 50,103 shares of the company's stock valued at $269,000 after acquiring an additional 3,942 shares in the last quarter. Amalgamated Bank grew its holdings in Joby Aviation by 46.2% in the second quarter. Amalgamated Bank now owns 13,905 shares of the company's stock worth $71,000 after purchasing an additional 4,391 shares during the last quarter. Cetera Advisors LLC increased its position in shares of Joby Aviation by 32.9% during the first quarter. Cetera Advisors LLC now owns 20,276 shares of the company's stock worth $109,000 after purchasing an additional 5,025 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of 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 purchasing an additional 5,840 shares in the last quarter. Institutional investors 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.

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