Joby Aviation (NYSE:JOBY) Shares Up 1.2% - Time to Buy?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) shares shot up 1.2% during trading on Tuesday . The stock traded as high as $8.80 and last traded at $8.63. 3,924,503 shares were traded during trading, a decline of 53% from the average session volume of 8,373,080 shares. The stock had previously closed at $8.53.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on Joby Aviation from $6.00 to $5.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 29th. Needham & Company LLC assumed coverage on Joby Aviation in a report on Tuesday, November 19th. They set a "buy" rating and a $8.00 target price on the stock. Canaccord Genuity Group dropped their price target on Joby Aviation from $10.50 to $9.75 and set a "buy" rating for the company in a research note on Tuesday, October 29th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 30th. Finally, HC Wainwright reissued a "buy" rating and issued a $9.00 target price on shares of Joby Aviation in a report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.35.

Joby Aviation Stock Up 2.3 %

The firm has a 50 day moving average of $6.22 and a two-hundred day moving average of $5.62. The firm has a market capitalization of $6.68 billion, a price-to-earnings ratio of -12.33 and a beta of 2.31.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). The company had revenue of $0.28 million during the quarter, compared to the consensus estimate 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 period last year, the company posted ($0.13) EPS. Sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation 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 sale, the chief executive officer now directly owns 32,674,274 shares in the company, valued at $158,470,228.90. This trade represents a 0.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gregory Bowles sold 7,748 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $8.08, for a total transaction of $62,603.84. Following the completion of the transaction, the insider now owns 29,235 shares of the company's stock, valued at approximately $236,218.80. This trade represents a 20.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 535,526 shares of company stock valued at $2,745,708. 32.40% of the stock is currently owned by insiders.

Institutional Trading of Joby Aviation

Institutional investors have recently modified their holdings of the business. Larson Financial Group LLC lifted its holdings in Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company's stock worth $37,000 after buying an additional 5,000 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Joby Aviation by 216.3% in the second 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 bought a new stake in Joby Aviation in the third quarter valued at approximately $51,000. Sound Income Strategies LLC increased its position 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 during the period. Finally, Integris Wealth Management LLC bought a new position in Joby Aviation during the 2nd quarter worth approximately $54,000. 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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