Joby Aviation (NYSE:JOBY) Stock Price Up 1.5% – Should You Buy?

Joby Aviation, Inc. (NYSE:JOBY) was up 1.5% during trading on Wednesday . The stock traded as high as $14.32 and last traded at $14.1440. Approximately 10,846,359 shares were traded during trading, a decline of 60% from the average daily volume of 26,962,826 shares. The stock had previously closed at $13.94.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on JOBY. JPMorgan Chase & Co. increased their price objective on shares of Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Friday, October 31st. Wall Street Zen cut shares of Joby Aviation from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Canaccord Genuity Group cut shares of Joby Aviation from a “buy” rating to a “hold” rating and lifted their price target for the stock from $12.00 to $17.00 in a research note on Thursday, August 7th. Zacks Research upgraded Joby Aviation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, Morgan Stanley raised their target price on Joby Aviation from $7.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Joby Aviation currently has a consensus rating of “Reduce” and an average target price of $14.00.

Joby Aviation Stock Performance

The stock has a market capitalization of $12.90 billion, a P/E ratio of -10.56 and a beta of 2.52. The company’s 50-day moving average price is $15.92 and its 200 day moving average price is $13.57.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Thursday, November 6th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The company had revenue of $22.57 million for the quarter, compared to the consensus estimate of $0.02 million. The business’s revenue for the quarter was up 7962.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.21) earnings per share. Analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Activity

In other Joby Aviation news, insider Kate Dehoff sold 20,824 shares of the company’s stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $17.48, for a total value of $364,003.52. Following the completion of the transaction, the insider directly owned 149,369 shares in the company, valued at $2,610,970.12. This represents a 12.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Didier Papadopoulos sold 5,102 shares of Joby Aviation stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $18.08, for a total transaction of $92,244.16. Following the sale, the insider owned 98,104 shares in the company, valued at approximately $1,773,720.32. The trade was a 4.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,154,802 shares of company stock valued at $17,844,775 in the last three months. 32.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors have recently bought and sold shares of the stock. Ring Mountain Capital LLC bought a new position in Joby Aviation during the second quarter valued at approximately $211,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Joby Aviation in the 2nd quarter worth approximately $1,018,000. Intech Investment Management LLC raised its holdings in shares of Joby Aviation by 70.4% during the 1st quarter. Intech Investment Management LLC now owns 307,135 shares of the company’s stock worth $1,849,000 after acquiring an additional 126,908 shares in the last quarter. Toyota Motor Corp boosted its position in shares of Joby Aviation by 63.1% during the 2nd quarter. Toyota Motor Corp now owns 128,454,401 shares of the company’s stock valued at $1,355,194,000 after acquiring an additional 49,701,790 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Joby Aviation by 16.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 502,909 shares of the company’s stock valued at $3,050,000 after purchasing an additional 71,695 shares in the last quarter. 52.85% of the stock is owned by hedge funds and other institutional investors.

About Joby Aviation

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.