Joby Aviation (NYSE:JOBY) Trading 1.6% Higher – Still a Buy?

Shares of Joby Aviation, Inc. (NYSE:JOBY) traded up 1.6% on Monday . The company traded as high as $15.54 and last traded at $15.5070. 15,970,638 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 26,635,383 shares. The stock had previously closed at $15.26.

Analyst Ratings Changes

JOBY has been the topic of several research reports. The Goldman Sachs Group initiated coverage on Joby Aviation in a research report on Monday, December 1st. They issued a “sell” rating and a $10.00 target price on the stock. 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. Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Joby Aviation in a research report on Thursday, November 6th. Zacks Research raised shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, HC Wainwright reiterated a “neutral” rating on shares of Joby Aviation in a research report on Monday, November 24th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $13.43.

Joby Aviation Stock Performance

The stock has a 50-day moving average price of $15.71 and a two-hundred day moving average price of $13.99. The stock has a market capitalization of $14.14 billion, a PE ratio of -11.57 and a beta of 2.53.

Joby Aviation (NYSE:JOBY) last released its earnings results on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.29). The business had revenue of $22.57 million for the quarter, compared to the consensus estimate of $0.02 million. During the same quarter last year, the firm posted ($0.21) EPS. The company’s revenue for the quarter was up 7962.1% compared to the same quarter last year. As a group, equities 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 Eric Allison sold 27,537 shares of the stock in a transaction on Monday, October 13th. The stock was sold at an average price of $16.84, for a total value of $463,723.08. Following the completion of the sale, the insider owned 692,428 shares in the company, valued at approximately $11,660,487.52. This represents a 3.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gregory Bowles sold 3,931 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $13.72, for a total value of $53,933.32. Following the sale, the insider directly owned 159,085 shares in the company, valued at approximately $2,182,646.20. This represents a 2.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,154,802 shares of company stock worth $17,844,775. 32.40% of the stock is currently owned by insiders.

Institutional Trading of Joby Aviation

Institutional investors have recently made changes to their positions in the business. CWM LLC boosted its stake in Joby Aviation by 8.1% during the second quarter. CWM LLC now owns 9,156 shares of the company’s stock worth $97,000 after buying an additional 689 shares during the period. GPS Wealth Strategies Group LLC lifted its holdings in shares of Joby Aviation by 22.5% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 3,794 shares of the company’s stock worth $61,000 after acquiring an additional 697 shares during the last quarter. Asset Planning Inc boosted its stake in shares of 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 purchasing an additional 700 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Joby Aviation by 4.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 16,705 shares of the company’s stock worth $270,000 after purchasing an additional 736 shares during the period. Finally, Allworth Financial LP grew its holdings in Joby Aviation by 11.9% during the 2nd quarter. Allworth Financial LP now owns 7,197 shares of the company’s stock valued at $76,000 after purchasing an additional 763 shares during the last quarter. Hedge funds and other 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.