Joby Aviation (NYSE:JOBY) Trading Up 6.3% - Time to Buy?

Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) were up 6.3% on Tuesday . The company traded as high as $8.35 and last traded at $8.33. Approximately 8,134,651 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 13,099,999 shares. The stock had previously closed at $7.83.

Analyst Ratings Changes

A number of research analysts recently weighed in on JOBY shares. Needham & Company LLC raised their target price on shares of Joby Aviation from $8.00 to $10.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. HC Wainwright reiterated a "buy" rating and set a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, December 18th. Canaccord Genuity Group lifted their target price on Joby Aviation from $9.75 to $11.50 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. downgraded Joby Aviation from a "neutral" rating to an "underweight" rating and lifted their price objective for the company from $5.00 to $6.00 in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $9.30.

Joby Aviation Stock Down 6.6 %

The company has a market cap of $5.34 billion, a PE ratio of -9.96 and a beta of 2.33. The firm has a 50 day simple moving average of $8.27 and a 200-day simple moving average of $6.65.

Insider Transactions at Joby Aviation

In other news, insider Bonny W. Simi sold 31,489 shares of the business's stock in a transaction dated 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 owns 137,097 shares in the company, valued at approximately $1,142,018.01. The trade was a 18.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Cahill Sciarra sold 333,334 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $8.02, for a total value of $2,673,338.68. Following the sale, the director now owns 58,661,395 shares in the company, valued at $470,464,387.90. The trade was a 0.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,023,005 shares of company stock worth $8,667,288. Insiders own 32.40% of the company's stock.

Institutional Investors Weigh In On Joby Aviation

A number of large investors have recently bought and sold shares of the company. Toronto Dominion Bank purchased a new stake in Joby Aviation in the fourth quarter valued at approximately $41,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Joby Aviation by 15.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 444,860 shares of the company's stock valued at $3,617,000 after buying an additional 57,929 shares during the last quarter. Valueworks LLC boosted its position in Joby Aviation by 14.0% in the fourth quarter. Valueworks LLC now owns 2,340,170 shares of the company's stock valued at $19,026,000 after buying an additional 288,140 shares during the last quarter. Toyota Motor Corp purchased a new stake in Joby Aviation in the fourth quarter valued at approximately $640,259,000. Finally, Shay Capital LLC purchased a new stake in Joby Aviation in the fourth quarter valued at approximately $373,000. Hedge funds and other institutional investors own 52.85% of the company's stock.

About Joby Aviation

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.