Joby Aviation (NYSE:JOBY) Trading 3.3% Higher – Should You Buy?

Joby Aviation, Inc. (NYSE:JOBY)’s stock price traded up 3.3% on Thursday . The company traded as high as $10.42 and last traded at $10.4070. 23,834,772 shares traded hands during trading, a decline of 14% from the average session volume of 27,558,020 shares. The stock had previously closed at $10.07.

Analyst Upgrades and Downgrades

JOBY has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Canaccord Genuity Group decreased their price target on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a research note on Thursday, May 7th. Morgan Stanley reduced their price objective on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a report on Thursday, March 12th. Finally, Oppenheimer set a $18.00 price objective on shares of Joby Aviation in a report on Thursday, February 26th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $13.06.

Joby Aviation Price Performance

The company has a fifty day moving average of $9.29 and a 200-day moving average of $11.83. The firm has a market cap of $10.24 billion, a P/E ratio of -9.05 and a beta of 2.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.09. The business had revenue of $24.25 million during the quarter, compared to the consensus estimate of $20.17 million. Joby Aviation had a negative return on equity of 60.54% and a negative net margin of 1,232.62%.During the same quarter in the prior year, the company posted ($0.11) earnings per share. On average, sell-side analysts anticipate that Joby Aviation, Inc. will post -0.83 EPS for the current fiscal year.

Insider Activity at Joby Aviation

In related news, insider Eric Allison sold 74,844 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $10.00, for a total transaction of $748,440.00. Following the transaction, the insider directly owned 676,008 shares of the company’s stock, valued at $6,760,080. This trade represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Didier Papadopoulos sold 12,965 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $8.15, for a total transaction of $105,664.75. Following the completion of the sale, the insider owned 147,678 shares of the company’s stock, valued at approximately $1,203,575.70. This trade represents a 8.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,096,111 shares of company stock valued at $10,504,153 over the last three months. Insiders own 28.50% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors have recently modified their holdings of the business. Royal Bank of Canada boosted its position in Joby Aviation by 110.5% in the first quarter. Royal Bank of Canada now owns 85,070 shares of the company’s stock worth $512,000 after purchasing an additional 44,659 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Joby Aviation during the 1st quarter worth $273,000. Strs Ohio bought a new stake in shares of Joby Aviation during the 1st quarter worth $37,000. Cetera Investment Advisers raised its stake in shares of Joby Aviation by 16.0% during the 2nd quarter. Cetera Investment Advisers now owns 64,069 shares of the company’s stock worth $676,000 after purchasing an additional 8,840 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Joby Aviation by 80.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 750,733 shares of the company’s stock worth $7,920,000 after purchasing an additional 333,995 shares during the period. 52.85% of the stock is owned by institutional investors.

About Joby Aviation

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.