Joby Aviation (NYSE:JOBY) Stock Price Up 1.2% - Should You Buy?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) shares were up 1.2% on Thursday . The stock traded as high as $6.27 and last traded at $5.97. Approximately 6,176,316 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 7,373,026 shares. The stock had previously closed at $5.90.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on JOBY. JPMorgan Chase & Co. reduced their target price 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. HC Wainwright reiterated a "buy" rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, October 2nd. Cantor Fitzgerald reissued an "overweight" rating and set a $10.00 target price on shares of Joby Aviation in a research report on Monday, September 30th. Finally, Canaccord Genuity Group decreased their price target on shares of Joby Aviation from $10.50 to $9.75 and set a "buy" rating for the company in a report on Tuesday, October 29th.

Joby Aviation Trading Up 1.9 %

The firm has a 50-day simple moving average of $5.39 and a two-hundred day simple moving average of $5.33. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of -8.53 and a beta of 1.97.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. The company had revenue of $0.28 million for the quarter, compared to analysts' expectations of $0.06 million. During the same quarter in the prior year, the business posted ($0.13) earnings per share. Equities research analysts anticipate that Joby Aviation, Inc. will post -0.68 EPS for the current year.

Insider Activity

In related news, insider Didier Papadopoulos sold 6,025 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $5.33, for a total transaction of $32,113.25. Following the completion of the transaction, the insider now directly owns 47,474 shares in the company, valued at $253,036.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Didier Papadopoulos sold 6,025 shares of Joby Aviation stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $5.33, for a total value of $32,113.25. Following the completion of the transaction, the insider now owns 47,474 shares in the company, valued at $253,036.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Matthew Field sold 5,643 shares of the 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 directly owns 293,143 shares in the company, valued at $1,747,132.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 525,499 shares of company stock valued at $2,667,151. 32.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Joby Aviation

A number of large investors have recently made changes to their positions in JOBY. Larson Financial Group LLC increased 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 valued at $37,000 after acquiring an additional 5,000 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Joby Aviation by 216.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company's stock valued at $44,000 after buying an additional 5,840 shares during the last quarter. Empowered Funds LLC purchased a new position in Joby Aviation during the third quarter worth $51,000. Sound Income Strategies LLC lifted its position in shares of Joby Aviation by 3,311.3% in the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company's stock valued at $52,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Integris Wealth Management LLC acquired a new stake in shares of Joby Aviation during the second quarter valued at $54,000. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.