Joby Aviation (NYSE:JOBY) Stock Price Up 11.3% – Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY) shares shot up 11.3% during trading on Tuesday . The stock traded as high as $8.94 and last traded at $9.10. 6,048,507 shares traded hands during trading, a decline of 63% from the average session volume of 16,437,955 shares. The stock had previously closed at $8.17.

Wall Street Analyst Weigh In

A number of research analysts have commented on JOBY shares. Needham & Company LLC increased their price objective on Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Canaccord Genuity Group lifted their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. downgraded shares of Joby Aviation from a “neutral” rating to an “underweight” rating and boosted their price target for the stock from $5.00 to $6.00 in a research note on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, December 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.30.

Joby Aviation Stock Down 1.1 %

The stock has a market cap of $6.64 billion, a price-to-earnings ratio of -12.39 and a beta of 2.33. The stock’s fifty day moving average is $8.09 and its 200-day moving average is $6.39.

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

Insiders Place Their Bets

In related news, insider Didier Papadopoulos sold 6,005 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $7.65, for a total transaction of $45,938.25. Following the completion of the transaction, the insider now owns 54,776 shares in the company, valued at approximately $419,036.40. This represents a 9.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bonny W. Simi sold 31,489 shares of Joby Aviation stock in a transaction on Friday, January 17th. The shares were sold at an average price of $8.33, for a total transaction of $262,303.37. Following the completion of the sale, the insider now owns 137,097 shares in the company, valued at $1,142,018.01. The trade was a 18.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 672,338 shares of company stock worth $5,864,050 over the last ninety days. 32.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC increased its stake in shares of Joby Aviation by 51.6% during the 4th quarter. Flagship Harbor Advisors LLC now owns 30,476 shares of the company’s stock worth $248,000 after purchasing an additional 10,370 shares during the last quarter. Sound Income Strategies LLC grew its holdings in Joby Aviation by 111.3% during the fourth quarter. Sound Income Strategies LLC now owns 21,773 shares of the company’s stock worth $177,000 after purchasing an additional 11,471 shares during the period. GoalVest Advisory LLC bought a new stake in Joby Aviation in the fourth quarter valued at approximately $146,000. SG Americas Securities LLC boosted its stake in shares of Joby Aviation by 24.3% during the 4th quarter. SG Americas Securities LLC now owns 194,459 shares of the company’s stock worth $1,581,000 after acquiring an additional 37,956 shares during the period. Finally, Monterey Private Wealth Inc. acquired a new position in shares of Joby Aviation during the 4th quarter worth approximately $102,000. Institutional investors and hedge funds 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.