Joby Aviation (NYSE:JOBY) Stock Price Up 1.3% - Should You Buy?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report)'s share price rose 1.3% during mid-day trading on Tuesday . The stock traded as high as $5.92 and last traded at $5.89. Approximately 1,442,214 shares traded hands during trading, a decline of 87% from the average daily volume of 11,356,666 shares. The stock had previously closed at $5.81.

Analyst Ratings Changes

Several brokerages have weighed in on JOBY. Cantor Fitzgerald restated an "overweight" rating and set a $9.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. Canaccord Genuity Group raised their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $7.00 price objective (down from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. Needham & Company LLC reissued a "buy" rating and set a $10.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. reduced their target price on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating for the company in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Joby Aviation currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.58.

Joby Aviation Stock Down 0.0 %

The firm has a market cap of $5.10 billion, a P/E ratio of -9.26 and a beta of 2.35. The firm's 50-day simple moving average is $6.31 and its 200 day simple moving average is $6.98.

Insiders Place Their Bets

In other Joby Aviation news, Director Paul Cahill Sciarra sold 166,667 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $5.73, for a total transaction of $955,001.91. Following the sale, the director now owns 58,328,061 shares in the company, valued at $334,219,789.53. This represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bonny W. Simi sold 12,382 shares of the company's stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $5.81, for a total transaction of $71,939.42. Following the sale, the insider now directly owns 203,588 shares in the company, valued at $1,182,846.28. This trade represents a 5.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,002,161 shares of company stock valued at $6,781,863 over the last ninety days. 32.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors and hedge funds have recently bought and sold shares of JOBY. GAMMA Investing LLC increased its stake in Joby Aviation by 773.9% in the first quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock valued at $34,000 after acquiring an additional 5,015 shares during the last quarter. Whittier Trust Co. bought a new position in Joby Aviation during the 4th quarter valued at approximately $38,000. Salem Investment Counselors Inc. lifted its stake in Joby Aviation by 5,000.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company's stock worth $41,000 after acquiring an additional 5,000 shares during the period. Compagnie Lombard Odier SCmA purchased a new stake in shares of Joby Aviation in the 4th quarter worth about $41,000. Finally, Toronto Dominion Bank bought a new stake in Joby Aviation during the 4th quarter valued at approximately $41,000. 52.85% of the stock is owned by hedge funds and other 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.