Joby Aviation (NYSE:JOBY) Shares Up 4.3% – Should You Buy?

Joby Aviation, Inc. (NYSE:JOBY) shares rose 4.3% during trading on Tuesday . The stock traded as high as $10.72 and last traded at $10.25. Approximately 14,712,802 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 18,375,598 shares. The stock had previously closed at $9.83.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Needham & Company LLC assumed coverage on shares of Joby Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $8.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th. HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, December 18th. Canaccord Genuity Group dropped their target price on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.35.

Joby Aviation Price Performance

The firm has a market cap of $7.82 billion, a price-to-earnings ratio of -14.60 and a beta of 2.33. The company has a fifty day moving average price of $7.27 and a two-hundred day moving average price of $6.09.

Joby Aviation (NYSE:JOBY) last posted 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 period in the prior year, the business posted ($0.13) EPS. On average, research analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Gregory Bowles sold 7,748 shares of Joby Aviation stock in a transaction on Monday, November 25th. The shares were sold at an average price of $8.08, for a total value of $62,603.84. Following the completion of the sale, the insider now owns 29,235 shares of the company’s stock, valued at approximately $236,218.80. The trade was a 20.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Didier Papadopoulos sold 6,005 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $7.65, for a total value of $45,938.25. Following the transaction, the insider now directly owns 54,776 shares in the company, valued at approximately $419,036.40. This represents a 9.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,468 shares of company stock worth $640,422. 32.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Joby Aviation

A number of institutional investors have recently modified their holdings of JOBY. Ieq Capital LLC boosted its holdings in Joby Aviation by 68.6% in the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock valued at $22,652,000 after purchasing an additional 1,807,054 shares during the period. State Street Corp increased its holdings in Joby Aviation by 9.5% in the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after buying an additional 812,248 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Joby Aviation by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after acquiring an additional 670,852 shares during the period. Susquehanna Fundamental Investments LLC boosted its position in shares of Joby Aviation by 1,018.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after acquiring an additional 616,579 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Joby Aviation by 41.8% in the second quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock valued at $7,521,000 after acquiring an additional 435,069 shares during the period. 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.