Joby Aviation (NYSE:JOBY) Shares Up 5.1% – Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY) shares rose 5.1% during trading on Thursday . The company traded as high as $14.20 and last traded at $13.87. Approximately 21,580,322 shares traded hands during mid-day trading, a decline of 18% from the average daily volume of 26,278,865 shares. The stock had previously closed at $13.20.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Friday, October 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a research report on Wednesday, October 8th. The Goldman Sachs Group initiated coverage on Joby Aviation in a report on Monday, December 1st. They set a “sell” rating and a $10.00 price objective for the company. HC Wainwright reaffirmed a “neutral” rating on shares of Joby Aviation in a research note on Monday, November 24th. Finally, Morgan Stanley lifted their price target on shares of Joby Aviation from $7.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $13.43.

Joby Aviation Stock Up 5.1%

The stock has a market cap of $12.65 billion, a P/E ratio of -10.35 and a beta of 2.53. The stock has a fifty day simple moving average of $15.26 and a 200-day simple moving average of $14.35.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.29). The company had revenue of $22.57 million for the quarter, compared to analyst estimates of $0.02 million. During the same quarter last year, the company earned ($0.21) EPS. Joby Aviation’s revenue for the quarter was up 7962.1% compared to the same quarter last year. Sell-side analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Activity at Joby Aviation

In other news, insider Eric Allison sold 27,537 shares of the business’s stock in a transaction on Monday, October 13th. The shares were sold at an average price of $16.84, for a total value of $463,723.08. Following the completion of the transaction, the insider owned 692,428 shares of the company’s stock, valued at $11,660,487.52. The trade was a 3.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gregory Bowles sold 12,900 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $15.75, for a total value of $203,175.00. Following the sale, the insider directly owned 153,280 shares in the company, valued at $2,414,160. The trade was a 7.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 654,801 shares of company stock valued at $10,697,118. 28.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently modified their holdings of the business. Asset Planning Inc raised its holdings in Joby Aviation by 70.0% during the 3rd quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock worth $27,000 after buying an additional 700 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Joby Aviation by 284.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock worth $27,000 after acquiring an additional 1,880 shares in the last quarter. Canton Hathaway LLC acquired a new stake in shares of Joby Aviation during the third quarter worth $29,000. Strategic Advocates LLC bought a new stake in Joby Aviation in the 3rd quarter valued at $29,000. Finally, Hilltop National Bank bought a new stake in Joby Aviation in the 3rd quarter valued at $32,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

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.