Joby Aviation (NYSE:JOBY) Shares Up 2.6% - Should You Buy?

Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) were up 2.6% on Monday . The company traded as high as $6.86 and last traded at $6.82. Approximately 3,643,454 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 10,670,306 shares. The stock had previously closed at $6.64.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on JOBY shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. JPMorgan Chase & Co. cut their price target on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a report on Thursday, February 27th. HC Wainwright reaffirmed a "buy" rating and set a $9.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group boosted their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the company a "buy" rating in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Joby Aviation currently has an average rating of "Moderate Buy" and a consensus price target of $8.90.

Joby Aviation Price Performance

The company has a fifty day moving average of $7.29 and a 200-day moving average of $6.91. The firm has a market cap of $4.80 billion, a P/E ratio of -8.71 and a beta of 2.35.

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Insider Transactions at Joby Aviation

In other Joby Aviation news, insider Kate Dehoff sold 6,205 shares of Joby Aviation stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $8.10, for a total transaction of $50,260.50. Following the completion of the transaction, the insider now owns 215,947 shares of the company's stock, valued at $1,749,170.70. The trade was a 2.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul Cahill Sciarra sold 166,667 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $6.78, for a total transaction of $1,130,002.26. Following the completion of the sale, the director now directly owns 58,494,728 shares in the company, valued at approximately $396,594,255.84. The trade was a 0.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,191,832 shares of company stock worth $9,796,214. 32.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of JOBY. Whittier Trust Co. purchased a new stake in shares of Joby Aviation in the fourth quarter worth $38,000. Allworth Financial LP increased its stake in Joby Aviation by 200.6% in the 4th quarter. Allworth Financial LP now owns 4,975 shares of the company's stock worth $44,000 after acquiring an additional 3,320 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in shares of Joby Aviation in the 4th quarter valued at about $41,000. Toronto Dominion Bank bought a new stake in shares of Joby Aviation during the 4th quarter valued at about $41,000. Finally, Carolinas Wealth Consulting LLC purchased a new position in shares of Joby Aviation during the fourth quarter worth about $41,000. 52.85% of the stock is owned by institutional investors.

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.