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

Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) shot up 1.2% during trading on Monday . The stock traded as high as $7.96 and last traded at $7.87. 5,696,867 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 12,990,051 shares. The stock had previously closed at $7.78.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on JOBY shares. Canaccord Genuity Group raised their target price on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a "buy" rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. lowered Joby Aviation from a "neutral" rating to an "underweight" rating and lifted their price objective for the company from $5.00 to $6.00 in a research note on Friday, January 10th. Needham & Company LLC lifted their price target on Joby Aviation from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. Finally, HC Wainwright restated a "buy" rating and issued a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, December 18th. One investment 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 stock has a consensus rating of "Moderate Buy" and an average target price of $9.30.

Joby Aviation Stock Performance

The stock has a market cap of $5.78 billion, a PE ratio of -10.79 and a beta of 2.33. The company has a 50 day moving average of $8.33 and a two-hundred day moving average of $6.57.

Insider Transactions at Joby Aviation

In other news, insider Kate Dehoff sold 6,205 shares of the company's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $8.10, for a total transaction of $50,260.50. Following the completion of the sale, the insider now owns 215,947 shares of the company's stock, valued at $1,749,170.70. This represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Didier Papadopoulos sold 6,005 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $7.65, for a total transaction of $45,938.25. Following the completion of the transaction, the insider now directly owns 54,776 shares in the company, valued at $419,036.40. This trade represents a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,007,596 shares of company stock valued at $8,551,819 in the last three months. 32.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Joby Aviation

A number of institutional investors have recently bought and sold shares of JOBY. Larson Financial Group LLC grew its holdings in shares of Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company's stock worth $37,000 after purchasing an additional 5,000 shares during the period. Whittier Trust Co. purchased a new position in Joby Aviation during the fourth quarter worth about $38,000. Salem Investment Counselors Inc. increased 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 acquiring an additional 5,000 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in shares of Joby Aviation in the 4th quarter valued at approximately $41,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Joby Aviation in the 4th quarter worth approximately $42,000. 52.85% of the stock is owned by hedge funds and other institutional investors.

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.