Joby Aviation (NYSE:JOBY) Trading Up 0.6% – Still a Buy?

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

Analyst Ratings Changes

JOBY has been the topic of a number of research reports. HC Wainwright restated a “buy” rating and issued a $9.00 price objective 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. Canaccord Genuity Group lowered their price target 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. Finally, JPMorgan Chase & Co. cut their price objective on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday.

Joby Aviation Stock Performance

The firm has a 50-day moving average price of $5.31 and a two-hundred day moving average price of $5.28. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of -10.10 and a beta of 1.97.

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

Insiders Place Their Bets

In other news, insider Kate Dehoff sold 27,898 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $5.50, for a total transaction of $153,439.00. Following the transaction, the insider now directly owns 199,413 shares in the company, valued at approximately $1,096,771.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Kate Dehoff sold 27,898 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $5.50, for a total transaction of $153,439.00. Following the transaction, the insider now owns 199,413 shares of the company’s stock, valued at $1,096,771.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 of the company’s stock, valued at $158,470,228.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 525,499 shares of company stock valued at $2,667,151 over the last quarter. Company insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in JOBY. Nisa Investment Advisors LLC raised its position in Joby Aviation by 216.3% in the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after acquiring an additional 5,840 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in Joby Aviation by 3,311.3% during the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock worth $52,000 after buying an additional 10,000 shares in the last quarter. Integris Wealth Management LLC acquired a new position in Joby Aviation during the second quarter worth about $54,000. Dakota Wealth Management acquired a new stake in shares of Joby Aviation during the 2nd quarter valued at approximately $56,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of Joby Aviation during the 2nd quarter worth approximately $57,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

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.