Joby Aviation (NYSE:JOBY) Trading 3.7% Higher - Time to Buy?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report)'s share price rose 3.7% during trading on Monday . The company traded as high as $5.07 and last traded at $5.05. Approximately 4,942,470 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 6,896,296 shares. The stock had previously closed at $4.87.

Analysts Set New Price Targets

Several research firms have issued reports on JOBY. Cantor Fitzgerald reissued an "overweight" rating and set a $10.00 price target on shares of Joby Aviation in a report on Monday, September 30th. Canaccord Genuity Group lowered their price target on shares of Joby Aviation from $10.50 to $9.75 and set a "buy" rating on the stock in a report on Tuesday, October 29th. JPMorgan Chase & Co. decreased their price objective on shares of Joby Aviation from $6.00 to $5.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 29th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $9.00 target price on shares of Joby Aviation in a report on Wednesday, October 2nd.

Joby Aviation Stock Up 3.5 %

The business has a 50 day simple moving average of $5.31 and a two-hundred day simple moving average of $5.29. The firm has a market cap of $3.61 billion, a PE ratio of -10.27 and a beta of 1.97.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.18). The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.28 million. During the same period last year, the business posted ($0.17) EPS. Equities analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, Director Paul Cahill Sciarra sold 166,666 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $5.15, for a total value of $858,329.90. Following the completion of the sale, the director now directly owns 59,828,059 shares in the company, valued at approximately $308,114,503.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Joby Aviation news, Director Paul Cahill Sciarra sold 166,666 shares of the firm's stock in a transaction on Monday, September 30th. The shares were sold at an average price of $5.15, for a total value of $858,329.90. Following the completion of the transaction, the director now owns 59,828,059 shares of the company's stock, valued at approximately $308,114,503.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Didier Papadopoulos sold 6,025 shares of the business's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $5.33, for a total transaction of $32,113.25. Following the sale, the insider now directly owns 47,474 shares in the company, valued at $253,036.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 525,499 shares of company stock valued at $2,667,151. 32.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Joby Aviation

A number of large investors have recently bought and sold shares of the company. Flaharty Asset Management LLC lifted its holdings in shares of Joby Aviation by 25.0% in the 2nd quarter. Flaharty Asset Management LLC now owns 15,000 shares of the company's stock valued at $76,000 after buying an additional 3,000 shares during the period. ProShare Advisors LLC raised its stake in shares of Joby Aviation by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 50,103 shares of the company's stock worth $269,000 after buying an additional 3,942 shares during the period. Amalgamated Bank lifted its position in shares of Joby Aviation by 46.2% during the 2nd quarter. Amalgamated Bank now owns 13,905 shares of the company's stock valued at $71,000 after buying an additional 4,391 shares in the last quarter. Cetera Advisors LLC grew its stake in Joby Aviation by 32.9% in the 1st quarter. Cetera Advisors LLC now owns 20,276 shares of the company's stock valued at $109,000 after acquiring an additional 5,025 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in Joby Aviation by 216.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company's stock worth $44,000 after acquiring an additional 5,840 shares in the last quarter. Hedge funds and other institutional investors own 45.54% 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.