Joby Aviation (NYSE:JOBY) Trading Up 0.3% – Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY) shares rose 0.3% during mid-day trading on Monday . The stock traded as high as $7.88 and last traded at $7.71. Approximately 4,795,144 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 8,832,383 shares. The stock had previously closed at $7.69.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on JOBY. JPMorgan Chase & Co. cut their price target on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. Canaccord Genuity Group cut their target price on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research report on Tuesday, October 29th. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Wednesday, December 18th. Needham & Company LLC assumed coverage on shares of Joby Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $8.00 price objective for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a report on Monday, September 30th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Joby Aviation currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.35.

Joby Aviation Price Performance

The stock has a 50 day moving average of $6.62 and a 200 day moving average of $5.81. The firm has a market cap of $5.89 billion, a P/E ratio of -11.00 and a beta of 2.32.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The business 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 quarter last year, the firm posted ($0.13) EPS. On average, research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, Director Paul Cahill Sciarra sold 166,666 shares of the company’s 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 transaction, the director now directly owns 59,828,059 shares in the company, valued at $308,114,503.85. This represents a 0.28 % 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, CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total value of $1,212,500.00. Following the sale, the chief executive officer now directly owns 32,674,274 shares in the company, valued at approximately $158,470,228.90. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 508,731 shares of company stock valued at $2,621,909. Corporate insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

A number of institutional investors and hedge funds have recently bought and sold shares of JOBY. Nisa Investment Advisors LLC grew its stake 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 in the last quarter. Bank of New York Mellon Corp grew its position in Joby Aviation by 41.8% in the second quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock worth $7,521,000 after acquiring an additional 435,069 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Joby Aviation during the second quarter worth approximately $57,000. Principal Financial Group Inc. raised its position in Joby Aviation by 59.6% during the second quarter. Principal Financial Group Inc. now owns 54,294 shares of the company’s stock valued at $277,000 after purchasing an additional 20,280 shares during the period. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Joby Aviation by 67.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 102,399 shares of the company’s stock valued at $522,000 after purchasing an additional 41,128 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.