Joby Aviation (NYSE:JOBY) Sees Strong Trading Volume – Time to Buy?

Joby Aviation, Inc. (NYSE:JOBY) saw strong trading volume on Monday . 16,609,605 shares were traded during mid-day trading, an increase of 106% from the previous session’s volume of 8,076,894 shares.The stock last traded at $8.15 and had previously closed at $8.95.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. lowered 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. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th. HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, October 2nd. Needham & Company LLC assumed coverage on shares of Joby Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $8.00 price objective for the company. Finally, Canaccord Genuity Group cut their price objective 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. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Joby Aviation currently has an average rating of “Moderate Buy” and an average target price of $8.35.

Joby Aviation Trading Down 11.2 %

The business has a fifty day moving average of $5.84 and a 200-day moving average of $5.48. The company has a market cap of $6.08 billion, a PE ratio of -11.57 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The firm 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 period in the previous year, the firm posted ($0.13) earnings per share. As a group, research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Transactions at Joby Aviation

In related news, insider Didier Papadopoulos sold 6,025 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $5.33, for a total value of $32,113.25. Following the transaction, the insider now directly owns 47,474 shares of the company’s stock, valued at approximately $253,036.42. This represents a 11.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gregory Bowles sold 7,748 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $8.08, for a total value of $62,603.84. Following the completion of the transaction, the insider now directly owns 29,235 shares in the company, valued at $236,218.80. This trade represents a 20.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 535,526 shares of company stock valued at $2,745,708 in the last ninety days. 32.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Joby Aviation

A number of hedge funds have recently added to or reduced their stakes in the stock. Flaharty Asset Management LLC raised its stake in Joby Aviation by 25.0% during the 2nd quarter. Flaharty Asset Management LLC now owns 15,000 shares of the company’s stock valued at $76,000 after buying an additional 3,000 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Joby Aviation by 13.7% in the 3rd quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock worth $147,000 after purchasing an additional 3,522 shares in the last quarter. Kensington Investment Counsel LLC increased its stake in shares of Joby Aviation by 12.0% in the 3rd quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock worth $172,000 after purchasing an additional 3,653 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Joby Aviation by 46.2% during the 2nd quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock valued at $71,000 after purchasing an additional 4,391 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after purchasing an additional 5,000 shares during the last quarter. 45.54% of the stock is currently 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.