Joby Aviation (NYSE:JOBY) Trading 0.8% Higher – Should You Buy?

Shares of Joby Aviation, Inc. (NYSE:JOBY) rose 0.8% on Thursday . The stock traded as high as $5.15 and last traded at $5.11. Approximately 5,690,562 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 7,003,093 shares. The stock had previously closed at $5.07.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on JOBY. HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, October 2nd. Canaccord Genuity Group dropped their price target 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. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th.

Joby Aviation Price Performance

The business has a 50 day moving average of $5.31 and a 200 day moving average of $5.30. The company has a market cap of $3.69 billion, a PE ratio of -10.43 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The business had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. During the same period in the previous year, the business earned ($0.13) EPS. Sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In related news, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 owns 32,674,274 shares in the company, valued at $158,470,228.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 32,674,274 shares in the company, valued at approximately $158,470,228.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gregory Bowles sold 26,775 shares of the firm’s 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 transaction, the insider now directly owns 18,035 shares in the company, valued at $92,699.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 525,499 shares of company stock valued at $2,667,151. 32.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Joby Aviation by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after acquiring an additional 2,889,012 shares during the last quarter. Ieq Capital LLC grew its stake in shares of Joby Aviation by 68.6% during the second 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. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Joby Aviation in the first quarter worth approximately $15,357,000. Bank of New York Mellon Corp lifted its stake 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 acquiring an additional 435,069 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC grew its position in Joby Aviation by 1,018.5% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after acquiring an additional 616,579 shares during the last quarter. Hedge funds and other institutional investors own 45.54% 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.