Joby Aviation (NYSE:JOBY) Stock Price Up 1.6% – Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY) shot up 1.6% on Monday . The company traded as high as $10.75 and last traded at $10.69. 24,683,915 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 32,943,938 shares. The stock had previously closed at $10.52.

Analyst Ratings Changes

A number of analysts have recently commented on JOBY shares. The Goldman Sachs Group started coverage on Joby Aviation in a report on Monday, December 1st. They issued a “sell” rating and a $10.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of Joby Aviation in a research note on Thursday, November 6th. HC Wainwright reaffirmed a “neutral” rating on shares of Joby Aviation in a research note on Monday, November 24th. Canaccord Genuity Group reiterated a “hold” rating and issued a $15.50 price objective on shares of Joby Aviation in a report on Tuesday, February 3rd. Finally, Zacks Research upgraded shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $13.21.

Joby Aviation Trading Up 1.6%

The stock’s fifty day moving average is $13.91 and its two-hundred day moving average is $15.07.

Insider Buying and Selling

In other Joby Aviation news, insider Gregory Bowles sold 5,383 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $14.72, for a total value of $79,237.76. Following the sale, the insider owned 162,674 shares in the company, valued at $2,394,561.28. This represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joeben Bevirt sold 23,552 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $13.51, for a total value of $318,187.52. Following the completion of the sale, the chief executive officer directly owned 288,814 shares of the company’s stock, valued at approximately $3,901,877.14. The trade was a 7.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 297,750 shares of company stock worth $4,138,695 in the last 90 days. 32.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Joby Aviation

Hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp increased its holdings in shares of Joby Aviation by 207.4% in the fourth 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 during the last quarter. Asset Planning Inc lifted 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 worth $27,000 after acquiring an additional 700 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in 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 during the last quarter. Canton Hathaway LLC bought a new stake in shares of Joby Aviation during the third quarter worth approximately $29,000. Finally, Strategic Advocates LLC acquired a new position in shares of Joby Aviation in the third quarter valued at approximately $29,000. 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.