Joby Aviation (NYSE:JOBY) Trading Up 2.7% – Time to Buy?

Joby Aviation, Inc. (NYSE:JOBY) traded up 2.7% during mid-day trading on Thursday . The stock traded as high as $8.51 and last traded at $8.4960. 23,276,176 shares changed hands during mid-day trading, a decline of 15% from the average session volume of 27,340,619 shares. The stock had previously closed at $8.27.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on JOBY. JPMorgan Chase & Co. lowered their price objective on shares of Joby Aviation from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Thursday, February 26th. Needham & Company LLC reduced their target price on shares of Joby Aviation to $18.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a research report on Thursday, January 22nd. Canaccord Genuity Group reiterated a “hold” rating and issued a $15.50 price target on shares of Joby Aviation in a report on Tuesday, February 3rd. Finally, HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of Joby Aviation in a research report on Thursday, March 12th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $13.81.

Joby Aviation Stock Down 0.0%

The company has a market cap of $7.75 billion, a PE ratio of -7.45 and a beta of 2.68. The firm has a 50 day simple moving average of $9.92 and a 200-day simple moving average of $13.43.

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

Insider Activity at Joby Aviation

In other news, insider Bonny W. Simi sold 7,696 shares of Joby Aviation stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $8.15, for a total value of $62,722.40. Following the sale, the insider owned 217,475 shares in the company, valued at $1,772,421.25. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gregory Bowles sold 11,530 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $9.62, for a total transaction of $110,918.60. Following the sale, the insider directly owned 170,360 shares of the company’s stock, valued at $1,638,863.20. The trade was a 6.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,324,904 shares of company stock worth $13,805,377 over the last 90 days. 28.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Joby Aviation

A number of hedge funds have recently bought and sold shares of the stock. GPS Wealth Strategies Group LLC grew its stake in Joby Aviation by 22.5% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 3,794 shares of the company’s stock valued at $61,000 after acquiring an additional 697 shares during the last quarter. Asset Planning Inc lifted its position in shares of 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 purchasing an additional 700 shares in the last quarter. GoalVest Advisory LLC boosted its stake in shares of Joby Aviation by 2.1% in the fourth quarter. GoalVest Advisory LLC now owns 33,500 shares of the company’s stock valued at $442,000 after purchasing an additional 700 shares during the period. Thrivent Financial for Lutherans grew its holdings in Joby Aviation by 4.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 16,705 shares of the company’s stock valued at $270,000 after purchasing an additional 736 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA increased its stake in Joby Aviation by 15.3% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 5,765 shares of the company’s stock worth $93,000 after buying an additional 765 shares during the period. 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.