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

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

Wall Street Analysts Forecast Growth

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

Joby Aviation Price Performance

The firm has a 50 day simple moving average of $8.27 and a 200-day simple moving average of $6.64. The company has a market cap of $5.80 billion, a price-to-earnings ratio of -10.83 and a beta of 2.33.

Insider Activity at Joby Aviation

In related news, insider Didier Papadopoulos sold 7,692 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $10.00, for a total value of $76,920.00. Following the transaction, the insider now owns 50,902 shares in the company, valued at $509,020. The trade was a 13.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kate Dehoff sold 6,903 shares of the business's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $7.43, for a total value of $51,289.29. Following the completion of the transaction, the insider now owns 202,276 shares in the company, valued at $1,502,910.68. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,025,284 shares of company stock worth $8,683,241. Company insiders own 32.40% of the company's stock.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors have recently modified their holdings of the company. Larson Financial Group LLC lifted its stake 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. acquired a new stake in Joby Aviation in the 4th quarter valued at $38,000. Salem Investment Counselors Inc. boosted its position in Joby Aviation by 5,000.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company's stock valued at $41,000 after buying an additional 5,000 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new position in shares of Joby Aviation during the fourth quarter worth about $41,000. Finally, Toronto Dominion Bank bought a new position in shares of Joby Aviation during the fourth quarter worth about $41,000. Hedge funds and other 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.