Joby Aviation (NYSE:JOBY) Shares Up 1.8% – Time to Buy?

Shares of Joby Aviation, Inc. (NYSE:JOBY) rose 1.8% during mid-day trading on Friday . The stock traded as high as $5.64 and last traded at $5.59. Approximately 964,652 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 6,055,900 shares. The stock had previously closed at $5.49.

Analysts Set New Price Targets

JOBY has been the topic of several research reports. Canaccord Genuity Group restated a “buy” rating and issued a $10.50 target price on shares of Joby Aviation in a report on Friday, October 4th. HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a report on Wednesday, October 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th.

Joby Aviation Trading Up 3.5 %

The company’s 50 day moving average price is $5.19 and its two-hundred day moving average price is $5.24. The firm has a market cap of $4.07 billion, a PE ratio of -11.57 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, hitting the consensus estimate of ($0.18). The business had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.28 million. During the same quarter in the prior year, the business earned ($0.17) EPS. Equities research analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity at Joby Aviation

In related news, insider Kate Dehoff sold 5,815 shares of Joby Aviation stock in a transaction on Monday, July 15th. The shares were sold at an average price of $6.76, for a total transaction of $39,309.40. Following the transaction, the insider now owns 199,413 shares in the company, valued at approximately $1,348,031.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Kate Dehoff sold 5,815 shares of Joby Aviation stock in a transaction on Monday, July 15th. The shares were sold at an average price of $6.76, for a total transaction of $39,309.40. Following the transaction, the insider now owns 199,413 shares in the company, valued at approximately $1,348,031.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the transaction, the chief executive officer now owns 32,674,274 shares in the company, valued at approximately $158,470,228.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 475,599 shares of company stock worth $2,398,359. 32.40% of the stock is owned by corporate insiders.

Institutional Trading of Joby Aviation

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Flaharty Asset Management LLC increased its holdings in Joby Aviation by 25.0% in the 2nd quarter. Flaharty Asset Management LLC now owns 15,000 shares of the company’s stock valued at $76,000 after acquiring an additional 3,000 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Joby Aviation by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 50,103 shares of the company’s stock worth $269,000 after buying an additional 3,942 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Joby Aviation by 46.2% in the 2nd quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock worth $71,000 after buying an additional 4,391 shares during the last quarter. Cetera Advisors LLC increased its holdings in shares of Joby Aviation by 32.9% in the 1st quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock worth $109,000 after buying an additional 5,025 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Joby Aviation by 216.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after buying an additional 5,840 shares during the last quarter. 45.54% of the stock is currently owned by institutional investors.

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.