Joby Aviation (NYSE:JOBY) Trading 4.9% Higher - Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) was up 4.9% on Friday . The stock traded as high as $8.77 and last traded at $8.63. Approximately 4,483,075 shares changed hands during trading, a decline of 68% from the average daily volume of 13,822,883 shares. The stock had previously closed at $8.23.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on JOBY shares. Needham & Company LLC increased their price target on Joby Aviation from $8.00 to $10.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. HC Wainwright reissued a "buy" rating and set a $9.00 price target on shares of Joby Aviation in a report on Wednesday, December 18th. Canaccord Genuity Group increased their price target on Joby Aviation from $9.75 to $11.50 and gave the company a "buy" rating in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lowered 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 note on Friday, January 10th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.30.

Joby Aviation Trading Up 0.4 %

The stock has a market capitalization of $6.32 billion, a PE ratio of -11.81 and a beta of 2.33. The firm has a 50 day moving average price of $8.39 and a 200 day moving average price of $6.51.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The company had revenue of $0.28 million during the quarter, compared to analysts' expectations of $0.06 million. During the same quarter last year, the company earned ($0.13) earnings per share. On average, equities research analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insiders Place Their Bets

In other Joby Aviation news, insider Bonny W. Simi sold 31,489 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $8.33, for a total value of $262,303.37. Following the completion of the sale, the insider now owns 137,097 shares in the company, valued at approximately $1,142,018.01. This represents a 18.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul Cahill Sciarra sold 333,332 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $8.00, for a total value of $2,666,656.00. Following the completion of the sale, the director now owns 58,994,729 shares of the company's stock, valued at $471,957,832. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 672,338 shares of company stock worth $5,864,050. Corporate insiders own 32.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC grew its position in shares of Joby Aviation by 218.3% during the third 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. Salem Investment Counselors Inc. grew its position in shares of Joby Aviation by 5,000.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company's stock valued at $41,000 after purchasing an additional 5,000 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of Joby Aviation during the fourth quarter valued at about $41,000. Golden State Wealth Management LLC purchased a new position in shares of Joby Aviation during the fourth quarter valued at about $42,000. Finally, Allworth Financial LP grew its position in shares of Joby Aviation by 200.6% during the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company's stock valued at $44,000 after purchasing an additional 3,320 shares in the last quarter. 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.