Joby Aviation (NYSE:JOBY) Trading 0.1% Higher - Should You Buy?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report)'s share price rose 0.1% on Wednesday . The company traded as high as $6.81 and last traded at $6.67. Approximately 2,487,626 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 10,664,734 shares. The stock had previously closed at $6.66.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $9.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. HC Wainwright reissued a "buy" rating and set a $9.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Canaccord Genuity Group raised their price target 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. dropped their price objective on shares of Joby Aviation from $6.00 to $5.00 and set an "underweight" rating for the company in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $8.90.

Joby Aviation Price Performance

The stock has a market capitalization of $4.82 billion, a PE ratio of -8.75 and a beta of 2.35. The firm has a fifty day moving average price of $7.25 and a two-hundred day moving average price of $6.91.

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Insiders Place Their Bets

In other Joby Aviation news, insider Bonny W. Simi sold 9,695 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $6.78, for a total value of $65,732.10. Following the transaction, the insider now directly owns 146,941 shares in the company, valued at $996,259.98. This represents a 6.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Didier Papadopoulos sold 7,692 shares of Joby Aviation stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $10.00, for a total transaction of $76,920.00. Following the sale, the insider now directly owns 50,902 shares of the company's stock, valued at $509,020. This represents a 13.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,191,832 shares of company stock worth $9,796,214 over the last quarter. Company insiders own 32.40% of the company's stock.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Intech Investment Management LLC purchased a new stake in Joby Aviation in the third quarter worth about $518,000. Larson Financial Group LLC raised its holdings in shares of Joby Aviation by 218.3% in the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company's stock valued at $37,000 after purchasing an additional 5,000 shares in the last quarter. CreativeOne Wealth LLC purchased a new stake in shares of Joby Aviation in the 3rd quarter worth approximately $79,000. Verition Fund Management LLC boosted its stake in shares of Joby Aviation by 118.9% during the third quarter. Verition Fund Management LLC now owns 78,339 shares of the company's stock valued at $394,000 after purchasing an additional 42,544 shares in the last quarter. Finally, Fred Alger Management LLC increased its holdings in Joby Aviation by 89.4% during the third quarter. Fred Alger Management LLC now owns 123,368 shares of the company's stock valued at $621,000 after buying an additional 58,229 shares during the period. Institutional investors 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.