Joby Aviation (NYSE:JOBY) Shares Up 11.1% – Should You Buy?

Joby Aviation, Inc. (NYSE:JOBY) rose 11.1% on Monday . The company traded as high as $5.80 and last traded at $5.79. Approximately 9,288,836 shares traded hands during trading, an increase of 31% from the average daily volume of 7,100,063 shares. The stock had previously closed at $5.21.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on JOBY shares. Canaccord Genuity Group reduced their price target on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a report on Tuesday, October 29th. JPMorgan Chase & Co. decreased their target price on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a 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 note on Wednesday, October 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th.

Joby Aviation Price Performance

The stock has a market cap of $4.24 billion, a price-to-earnings ratio of -8.73 and a beta of 1.97. The business’s 50 day moving average is $5.37 and its 200 day moving average is $5.32.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The company had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same period in the previous year, the business posted ($0.13) EPS. As a group, analysts forecast that Joby Aviation, Inc. will post -0.68 earnings per share for the current year.

Insider Buying and Selling at Joby Aviation

In other news, insider Gregory Bowles sold 26,775 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were 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 owns 18,035 shares in the company, valued at approximately $92,699.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Joby Aviation news, insider Matthew Field sold 5,643 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $5.96, for a total value of $33,632.28. Following the sale, the insider now owns 293,143 shares of the company’s stock, valued at approximately $1,747,132.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gregory Bowles sold 26,775 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $5.14, for a total transaction of $137,623.50. Following the transaction, the insider now owns 18,035 shares of the company’s stock, valued at $92,699.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 525,499 shares of company stock worth $2,667,151. 32.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in JOBY. Vanguard Group Inc. lifted its stake in Joby Aviation by 9.1% during the first quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after purchasing an additional 2,889,012 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Joby Aviation in the 1st quarter valued at about $15,357,000. Ieq Capital LLC grew its position in shares of Joby Aviation by 68.6% during the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock valued at $22,652,000 after buying an additional 1,807,054 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its holdings in Joby Aviation by 1,018.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock worth $3,453,000 after acquiring an additional 616,579 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Joby Aviation by 41.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock worth $7,521,000 after purchasing an additional 435,069 shares during the period. Institutional investors and hedge funds own 45.54% of the company’s stock.

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.