Joby Aviation (NYSE:JOBY) Sets New 12-Month High – Should You Buy?

Joby Aviation, Inc. (NYSE:JOBY)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $8.62 and last traded at $8.50, with a volume of 6368178 shares traded. The stock had previously closed at $7.90.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on JOBY shares. Needham & Company LLC assumed coverage on Joby Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $8.00 target price for the company. 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. lowered their target price on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. HC Wainwright restated a “buy” rating and issued 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 issued a $10.00 price target on shares of Joby Aviation in a report on Monday, September 30th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Joby Aviation has a consensus rating of “Moderate Buy” and a consensus price target of $8.35.

Joby Aviation Stock Up 1.5 %

The company’s fifty day moving average is $5.65 and its 200 day moving average is $5.42. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of -11.27 and a beta of 1.97.

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

Insider Buying and Selling

In related news, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the completion of the sale, the chief executive officer now directly owns 32,674,274 shares in the company, valued at $158,470,228.90. This represents a 0.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $858,329.90. Following the completion of the transaction, the director now directly owns 59,828,059 shares of the company’s stock, valued at $308,114,503.85. This trade represents a 0.28 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 535,526 shares of company stock valued at $2,745,708. Insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

A number of hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC increased its position 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 acquiring an additional 5,000 shares during the period. Nisa Investment Advisors LLC increased its holdings in Joby Aviation by 216.3% in the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after purchasing an additional 5,840 shares during the period. Empowered Funds LLC bought a new position in Joby Aviation during the 3rd quarter worth $51,000. Sound Income Strategies LLC lifted its holdings in 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 period. Finally, Integris Wealth Management LLC bought a new stake in shares of Joby Aviation in the 2nd quarter valued at $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.