Joby Aviation (NYSE:JOBY) Trading 2.3% Higher - Time to Buy?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) shares traded up 2.3% during mid-day trading on Thursday . The stock traded as high as $7.66 and last traded at $7.50. 3,317,281 shares traded hands during trading, a decline of 75% from the average session volume of 13,036,676 shares. The stock had previously closed at $7.33.

Analysts Set New Price Targets

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

Joby Aviation Price Performance

The stock's 50 day moving average is $8.29 and its two-hundred day moving average is $6.62. The stock has a market capitalization of $6.06 billion, a PE ratio of -11.31 and a beta of 2.33.

Insider Buying and Selling at Joby Aviation

In other news, insider Didier Papadopoulos sold 6,005 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $419,036.40. This represents a 9.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joeben Bevirt sold 10,785 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $7.43, for a total value of $80,132.55. Following the completion of the transaction, the chief executive officer now owns 793,036 shares in the company, valued at approximately $5,892,257.48. The trade was a 1.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,025,284 shares of company stock valued at $8,683,241. Insiders own 32.40% of the company's stock.

Institutional Trading of Joby Aviation

Several institutional investors have recently modified their holdings of JOBY. Whittier Trust Co. acquired a new stake in Joby Aviation during the 4th quarter worth $38,000. Allworth Financial LP grew its holdings 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 worth $44,000 after purchasing an additional 3,320 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in shares of Joby Aviation during the fourth quarter worth about $41,000. Toronto Dominion Bank purchased a new stake in shares of Joby Aviation in the 4th quarter valued at about $41,000. Finally, Salem Investment Counselors Inc. lifted its holdings in shares of 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 purchasing an additional 5,000 shares during the last quarter. 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.