Joby Aviation (NYSE:JOBY) Trading Up 1.5% - Time to Buy?

Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) traded up 1.5% on Friday . The stock traded as high as $7.77 and last traded at $7.70. 3,442,266 shares traded hands during trading, a decline of 73% from the average session volume of 12,921,023 shares. The stock had previously closed at $7.58.

Wall Street Analysts Forecast Growth

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

Joby Aviation Price Performance

The firm has a 50-day moving average of $8.30 and a 200 day moving average of $6.60. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of -11.22 and a beta of 2.33.

Insider Activity at Joby Aviation

In other news, insider Kate Dehoff sold 6,903 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $7.43, for a total transaction of $51,289.29. Following the transaction, the insider now owns 202,276 shares in the company, valued at approximately $1,502,910.68. This trade represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gregory Bowles sold 7,748 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $8.08, for a total value of $62,603.84. Following the transaction, the insider now owns 29,235 shares in the company, valued at approximately $236,218.80. This trade represents a 20.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,025,284 shares of company stock valued at $8,683,241. Insiders own 32.40% of the company's stock.

Hedge Funds Weigh In On Joby Aviation

A number of large investors have recently made changes to their positions in JOBY. Whittier Trust Co. bought a new position in Joby Aviation during the 4th quarter worth $38,000. Allworth Financial LP increased its stake in Joby Aviation by 200.6% during 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 period. Compagnie Lombard Odier SCmA bought a new position in Joby Aviation during the 4th quarter worth $41,000. Salem Investment Counselors Inc. increased its stake in Joby Aviation by 5,000.0% during the 4th 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. Finally, Golden State Wealth Management LLC bought a new position in Joby Aviation during the 4th quarter worth $42,000. 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.