Joby Aviation (NYSE:JOBY) Trading 4.2% Higher – Should You Buy?

Joby Aviation, Inc. (NYSE:JOBY) was up 4.2% during mid-day trading on Friday . The stock traded as high as $14.95 and last traded at $14.9150. Approximately 52,753,279 shares were traded during mid-day trading, an increase of 94% from the average daily volume of 27,133,703 shares. The stock had previously closed at $14.32.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on JOBY shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Joby Aviation in a research report on Wednesday, October 8th. Morgan Stanley upped their price objective on Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, October 9th. Wall Street Zen cut Joby Aviation from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Canaccord Genuity Group lowered shares of Joby Aviation from a “buy” rating to a “hold” rating and increased their price target for the company from $12.00 to $17.00 in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. increased their target price on shares of Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Friday, October 31st. One analyst has rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $14.00.

Joby Aviation Trading Up 4.2%

The stock has a market capitalization of $12.77 billion, a P/E ratio of -11.13 and a beta of 2.52. The company’s fifty day simple moving average is $15.71 and its 200 day simple moving average is $12.74.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The company had revenue of $22.57 million during the quarter, compared to analyst estimates of $0.02 million. During the same period last year, the firm posted ($0.21) EPS. The firm’s quarterly revenue was up 7962.1% compared to the same quarter last year. Equities research analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Kate Dehoff sold 20,824 shares of the stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $17.48, for a total transaction of $364,003.52. Following the transaction, the insider owned 149,369 shares of the company’s stock, valued at approximately $2,610,970.12. This trade represents a 12.24% 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 Gregory Bowles sold 4,776 shares of Joby Aviation stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $18.09, for a total transaction of $86,397.84. Following the completion of the transaction, the insider owned 156,464 shares in the company, valued at approximately $2,830,433.76. The trade was a 2.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,657,424 shares of company stock worth $25,068,869 in the last ninety days. 28.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Joby Aviation

Large investors have recently added to or reduced their stakes in the company. Harold Davidson & Associates Inc. purchased a new stake in shares of Joby Aviation during the third quarter worth about $302,000. Axxcess Wealth Management LLC bought a new position in Joby Aviation during the 3rd quarter valued at approximately $197,000. GSA Capital Partners LLP grew its position in shares of Joby Aviation by 96.5% in the 3rd quarter. GSA Capital Partners LLP now owns 29,777 shares of the company’s stock worth $481,000 after buying an additional 14,622 shares during the last quarter. Rothschild Investment LLC increased its stake in shares of Joby Aviation by 593.6% during the third quarter. Rothschild Investment LLC now owns 9,155 shares of the company’s stock valued at $148,000 after buying an additional 7,835 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Joby Aviation by 13.2% during the third quarter. Vanguard Group Inc. now owns 49,948,325 shares of the company’s stock valued at $806,166,000 after acquiring an additional 5,828,189 shares in the last quarter. 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.