Joby Aviation's (JOBY) "Buy" Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Joby Aviation (NYSE:JOBY - Free Report) in a report issued on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $10.00 price objective on the stock.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. downgraded shares of Joby Aviation from a "neutral" rating to an "underweight" rating and lifted their price objective for the stock from $5.00 to $6.00 in a report on Friday, January 10th. HC Wainwright reaffirmed a "buy" rating and issued a $9.00 price target on shares of Joby Aviation in a report on Wednesday, December 18th. Finally, Canaccord Genuity Group increased their price objective on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $8.90.

Joby Aviation Trading Up 3.6 %

NYSE JOBY traded up $0.25 on Thursday, hitting $7.00. 15,978,162 shares of the stock traded hands, compared to its average volume of 13,786,622. The stock has a 50-day moving average of $8.14 and a 200 day moving average of $6.73. Joby Aviation has a twelve month low of $4.50 and a twelve month high of $10.72. The company has a market capitalization of $5.35 billion, a P/E ratio of -9.99 and a beta of 2.33.

Insider Activity

In related news, insider Bonny W. Simi sold 31,489 shares of the firm's stock in a transaction that occurred 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 sale, the insider now directly owns 137,097 shares in the company, valued at $1,142,018.01. This trade represents a 18.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Didier Papadopoulos sold 6,005 shares of Joby Aviation stock in a transaction on Monday, December 16th. The shares were sold at an average price of $7.65, for a total value of $45,938.25. Following the sale, the insider now directly owns 54,776 shares in the company, valued at $419,036.40. The trade was a 9.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,018,699 shares of company stock valued at $8,628,124. 32.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of JOBY. Larson Financial Group LLC lifted its holdings in Joby Aviation by 218.3% in the third 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 shares of Joby Aviation in the 4th quarter worth approximately $38,000. Salem Investment Counselors Inc. lifted its stake 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 worth $41,000 after acquiring an additional 5,000 shares during the period. Compagnie Lombard Odier SCmA bought a new position in shares of Joby Aviation in the fourth quarter valued at approximately $41,000. Finally, Toronto Dominion Bank acquired a new position in shares of Joby Aviation during the fourth quarter valued at approximately $41,000. 52.85% of the stock is owned by institutional investors and hedge funds.

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.