Joby Aviation (NYSE:JOBY) Stock Price Up 7.7% – Time to Buy?

Joby Aviation, Inc. (NYSE:JOBY) shares were up 7.7% on Thursday . The stock traded as high as $15.87 and last traded at $15.75. Approximately 20,846,925 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 26,716,225 shares. The stock had previously closed at $14.63.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. HC Wainwright restated a “neutral” rating on shares of Joby Aviation in a research note on Monday, November 24th. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price target on shares of Joby Aviation in a report on Thursday, November 6th. Morgan Stanley boosted their price objective on shares of Joby Aviation from $7.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, October 9th. The Goldman Sachs Group assumed coverage on shares of Joby Aviation in a research note on Monday. They issued a “sell” rating and a $10.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $13.43.

Joby Aviation Stock Up 7.7%

The stock has a market cap of $14.36 billion, a price-to-earnings ratio of -11.75 and a beta of 2.53. The company’s 50-day moving average is $15.73 and its 200-day moving average is $13.82.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.29). The firm had revenue of $22.57 million during the quarter, compared to analyst estimates of $0.02 million. The company’s quarterly revenue was up 7962.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.21) earnings per share. On average, research analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Kate Dehoff sold 52,907 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $15.76, for a total value of $833,814.32. Following the transaction, the insider directly owned 149,369 shares in the company, valued at $2,354,055.44. The trade was a 26.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Didier Papadopoulos sold 15,439 shares of the company’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $16.78, for a total transaction of $259,066.42. Following the sale, the insider directly owned 103,206 shares in the company, valued at $1,731,796.68. This represents a 13.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,154,802 shares of company stock valued at $17,844,775. Insiders own 28.50% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

A number of large investors have recently bought and sold shares of the business. Toyota Motor Corp grew its holdings in shares of Joby Aviation by 63.1% during the second quarter. Toyota Motor Corp now owns 128,454,401 shares of the company’s stock worth $1,355,194,000 after purchasing an additional 49,701,790 shares during the last quarter. Vanguard Group Inc. lifted its position in Joby Aviation by 13.2% during the 3rd quarter. Vanguard Group Inc. now owns 49,948,325 shares of the company’s stock worth $806,166,000 after buying an additional 5,828,189 shares in the last quarter. Nuveen LLC bought a new stake in Joby Aviation during the 1st quarter worth about $18,936,000. Rheos Capital Works Inc. grew its holdings in Joby Aviation by 58.2% during the 2nd quarter. Rheos Capital Works Inc. now owns 7,205,000 shares of the company’s stock worth $76,013,000 after acquiring an additional 2,650,000 shares during the last quarter. Finally, Man Group plc acquired a new stake in Joby Aviation in the 3rd quarter valued at about $40,283,000. 52.85% of the stock is currently owned by institutional investors.

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.