Joby Aviation (NYSE:JOBY) Shares Up 10.4% – Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY)’s share price traded up 10.4% on Thursday . The stock traded as high as $9.18 and last traded at $9.12. 10,354,681 shares traded hands during mid-day trading, an increase of 16% from the average session volume of 8,889,174 shares. The stock had previously closed at $8.26.

Analyst Upgrades and Downgrades

A number of research firms have commented on JOBY. Needham & Company LLC began coverage on shares of Joby Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $8.00 price target for the company. Canaccord Genuity Group reduced their price objective 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a research note on Monday, September 30th. HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. cut their price objective 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.35.

Joby Aviation Price Performance

The company has a 50 day moving average price of $6.77 and a 200-day moving average price of $5.87. The stock has a market capitalization of $6.98 billion, a PE ratio of -13.03 and a beta of 2.32.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The firm had revenue of $0.28 million for the quarter, compared to the consensus estimate 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 firm posted ($0.13) earnings per share. As a group, equities analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Activity at Joby Aviation

In other news, Director Paul Cahill Sciarra sold 166,666 shares of Joby Aviation stock in a transaction that occurred 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 sale, the director now directly owns 59,828,059 shares in the company, valued at $308,114,503.85. The trade was a 0.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Didier Papadopoulos sold 6,005 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $7.65, for a total transaction of $45,938.25. Following the completion of the sale, the insider now owns 54,776 shares in the company, valued at $419,036.40. This represents a 9.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 508,731 shares of company stock valued at $2,621,909 in the last three months. Company insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC increased 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 worth $37,000 after buying an additional 5,000 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Joby Aviation during the third quarter worth $51,000. Sound Income Strategies LLC boosted its holdings 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 valued at $52,000 after purchasing an additional 10,000 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Joby Aviation during the second quarter valued at about $57,000. Finally, International Assets Investment Management LLC boosted its position in shares of Joby Aviation by 403.0% during the 3rd quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock valued at $58,000 after acquiring an additional 9,188 shares during the last quarter. 52.85% of the stock is currently owned by institutional investors.

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.