Joby Aviation (NYSE:JOBY) Trading Up 1.3% – Time to Buy?

Joby Aviation, Inc. (NYSE:JOBY) shares traded up 1.3% on Thursday . The company traded as high as $8.09 and last traded at $7.98. 6,951,182 shares were traded during trading, a decline of 47% from the average session volume of 12,993,531 shares. The stock had previously closed at $7.87.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group restated a “buy” rating and set a $12.00 target price on shares of Joby Aviation in a report on Wednesday. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. Morgan Stanley restated an “equal weight” rating and set a $7.00 target price (down from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. JPMorgan Chase & Co. lowered their target price on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $9.00 target price on shares of Joby Aviation in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Joby Aviation has an average rating of “Moderate Buy” and a consensus price target of $8.67.

Joby Aviation Price Performance

The stock’s 50-day simple moving average is $6.61 and its 200 day simple moving average is $7.31. The stock has a market capitalization of $6.45 billion, a P/E ratio of -11.64 and a beta of 2.39.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same quarter in the previous year, the business earned ($0.14) earnings per share. As a group, analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Paul Cahill Sciarra sold 166,667 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $6.78, for a total value of $1,130,002.26. Following the completion of the sale, the director now owns 58,494,728 shares of the company’s stock, valued at approximately $396,594,255.84. The trade was a 0.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Bonny W. Simi sold 9,695 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $6.78, for a total transaction of $65,732.10. Following the completion of the sale, the insider now directly owns 146,941 shares of the company’s stock, valued at approximately $996,259.98. The trade was a 6.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 750,950 shares of company stock valued at $4,640,619 over the last ninety days. 28.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors have recently modified their holdings of JOBY. GAMMA Investing LLC lifted its position in Joby Aviation by 773.9% during the first quarter. GAMMA Investing LLC now owns 5,663 shares of the company’s stock worth $34,000 after purchasing an additional 5,015 shares during the period. Strs Ohio bought a new stake in Joby Aviation during the first quarter worth about $37,000. Whittier Trust Co. bought a new stake in Joby Aviation during the fourth quarter worth about $38,000. Compagnie Lombard Odier SCmA bought a new stake in Joby Aviation during the fourth quarter worth about $41,000. Finally, Toronto Dominion Bank bought a new stake in Joby Aviation during the fourth quarter worth about $41,000. Institutional investors own 52.85% 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.