Joby Aviation (NYSE:JOBY) Trading 1.7% Higher – Time to Buy?

Joby Aviation, Inc. (NYSE:JOBY)’s share price rose 1.7% during trading on Thursday . The company traded as high as $9.94 and last traded at $9.7050. Approximately 17,733,473 shares changed hands during trading, a decline of 37% from the average daily volume of 28,105,279 shares. The stock had previously closed at $9.54.

Analysts Set New Price Targets

A number of research firms have issued reports on JOBY. Weiss Ratings restated a “sell (d-)” rating on shares of Joby Aviation in a report on Thursday, January 22nd. Needham & Company LLC cut their price objective on shares of Joby Aviation to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. The Goldman Sachs Group began coverage on shares of Joby Aviation in a research note on Monday, December 1st. They set a “sell” rating and a $10.00 price objective on the stock. Oppenheimer set a $18.00 target price on shares of Joby Aviation in a research report on Thursday, February 26th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a research note on Thursday, March 12th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Joby Aviation has an average rating of “Reduce” and a consensus price target of $13.81.

Joby Aviation Stock Performance

The company has a market cap of $8.85 billion, a PE ratio of -8.51 and a beta of 2.59. The firm has a fifty day simple moving average of $11.42 and a 200 day simple moving average of $13.84.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.06. The company had revenue of $30.84 million for the quarter, compared to analyst estimates of $16.88 million. The company’s revenue was up 5506.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.34) EPS. As a group, equities analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Bonny W. Simi sold 110,173 shares of Joby Aviation stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $13.85, for a total value of $1,525,896.05. Following the transaction, the insider owned 125,114 shares in the company, valued at $1,732,828.90. This trade represents a 46.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joeben Bevirt sold 507,182 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $10.62, for a total transaction of $5,386,272.84. Following the sale, the chief executive officer directly owned 31,997,802 shares of the company’s stock, valued at $339,816,657.24. This represents a 1.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,486,368 shares of company stock worth $16,211,332. 28.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Asset Planning Inc grew its position in Joby Aviation by 70.0% during the third quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock valued at $27,000 after acquiring an additional 700 shares during the period. Strategic Advocates LLC purchased a new position in shares of Joby Aviation in the 3rd quarter worth about $29,000. Canton Hathaway LLC purchased a new position in shares of Joby Aviation in the 3rd quarter worth about $29,000. Fifth Third Bancorp lifted its stake in shares of Joby Aviation by 207.4% in the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock valued at $26,000 after purchasing an additional 1,348 shares in the last quarter. Finally, Hilltop National Bank acquired a new position in shares of Joby Aviation in the 3rd quarter valued at about $32,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.