Joby Aviation (NYSE:JOBY) Reaches New 1-Year High – Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY) shares hit a new 52-week high on Wednesday . The company traded as high as $8.62 and last traded at $8.50, with a volume of 6368178 shares. The stock had previously closed at $7.90.

Analysts Set New Price Targets

A number of brokerages recently weighed in on JOBY. Needham & Company LLC began coverage on Joby Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $8.00 price target on the stock. Canaccord Genuity Group lowered their price target on Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research note on Tuesday, October 29th. JPMorgan Chase & Co. dropped their price objective on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. HC Wainwright reiterated a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a report on Wednesday, October 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a report on Monday, September 30th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.35.

Joby Aviation Stock Performance

The firm has a 50 day simple moving average of $5.77 and a 200-day simple moving average of $5.45.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The firm had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter in the previous year, the business earned ($0.13) earnings per share. Equities analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other Joby Aviation news, insider Gregory Bowles sold 7,748 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $8.08, for a total value of $62,603.84. Following the sale, the insider now owns 29,235 shares in the company, valued at approximately $236,218.80. The trade was a 20.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joeben Bevirt sold 250,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total value of $1,212,500.00. Following the completion of the sale, the chief executive officer now owns 32,674,274 shares in the company, valued at $158,470,228.90. The trade was a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 535,526 shares of company stock worth $2,745,708. Insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in JOBY. Larson Financial Group LLC boosted its stake in Joby Aviation by 218.3% in the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after purchasing an additional 5,000 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Joby Aviation by 216.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after acquiring an additional 5,840 shares during the period. Empowered Funds LLC bought a new stake in shares of Joby Aviation during the 3rd quarter worth $51,000. Sound Income Strategies LLC lifted its position in shares of Joby Aviation by 3,311.3% during the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock worth $52,000 after buying an additional 10,000 shares during the last quarter. Finally, Integris Wealth Management LLC bought a new stake in shares of Joby Aviation during the 2nd quarter worth $54,000. Institutional investors and hedge funds 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.