Joby Aviation (NYSE:JOBY) Stock Price Up 0.6% – Time to Buy?

Joby Aviation, Inc. (NYSE:JOBY)’s stock price traded up 0.6% on Wednesday . The company traded as high as $5.05 and last traded at $5.04. 3,570,010 shares traded hands during trading, a decline of 47% from the average session volume of 6,797,804 shares. The stock had previously closed at $5.01.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a research note on Monday, September 30th. HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, October 2nd. Finally, Canaccord Genuity Group decreased their target price on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research report on Tuesday.

Joby Aviation Trading Up 1.3 %

The firm has a market capitalization of $3.48 billion, a P/E ratio of -10.10 and a beta of 1.97. The stock has a 50-day simple moving average of $5.31 and a two-hundred day simple moving average of $5.28.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.18). The business had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.28 million. During the same quarter in the prior year, the business posted ($0.17) earnings per share. As a group, research analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Buying and Selling

In other Joby Aviation news, insider Gregory Bowles sold 26,775 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $5.14, for a total value of $137,623.50. Following the completion of the sale, the insider now directly owns 18,035 shares in the company, valued at approximately $92,699.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Didier Papadopoulos sold 6,025 shares of Joby Aviation stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $5.33, for a total transaction of $32,113.25. Following the completion of the sale, the insider now owns 47,474 shares of the company’s stock, valued at $253,036.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gregory Bowles sold 26,775 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $5.14, for a total transaction of $137,623.50. Following the completion of the transaction, the insider now owns 18,035 shares in the company, valued at approximately $92,699.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 525,499 shares of company stock worth $2,667,151 in the last 90 days. 32.40% of the stock is owned by corporate insiders.

Institutional Trading of Joby Aviation

Several large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its position in Joby Aviation by 215.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,682 shares of the company’s stock valued at $1,965,000 after acquiring an additional 270,794 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Joby Aviation by 84.3% during the first quarter. Janney Montgomery Scott LLC now owns 202,223 shares of the company’s stock worth $1,084,000 after buying an additional 92,508 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Joby Aviation in the first quarter worth about $324,000. ProShare Advisors LLC boosted its stake in shares of Joby Aviation by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 50,103 shares of the company’s stock worth $269,000 after acquiring an additional 3,942 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Joby Aviation by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock valued at $185,776,000 after acquiring an additional 2,889,012 shares during the period. 45.54% of the stock is owned by hedge funds and other 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.