Joby Aviation (NYSE:JOBY) Trading Up 6.4% – Time to Buy?

Shares of Joby Aviation, Inc. (NYSE:JOBY) traded up 6.4% on Monday . The stock traded as high as $13.96 and last traded at $13.91. 19,981,643 shares were traded during trading, a decline of 26% from the average session volume of 27,093,436 shares. The stock had previously closed at $13.07.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on JOBY shares. Morgan Stanley boosted their target price on shares of Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, October 9th. Needham & Company LLC reissued a “buy” rating and set a $22.00 price target on shares of Joby Aviation in a research report on Thursday, November 6th. Zacks Research upgraded Joby Aviation from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Canaccord Genuity Group lowered Joby Aviation from a “buy” rating to a “hold” rating and lifted their price objective for the company from $12.00 to $17.00 in a research note on Thursday, August 7th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Joby Aviation in a research report on Monday. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $14.00.

Joby Aviation Stock Performance

The firm has a 50 day simple moving average of $15.92 and a two-hundred day simple moving average of $13.57.

Joby Aviation (NYSE:JOBY) last announced 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 during the quarter, compared to analyst estimates of $0.02 million. The firm’s quarterly revenue was up 7962.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.21) earnings per share. On average, equities research analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Transactions at Joby Aviation

In other Joby Aviation news, insider Kate Dehoff sold 52,907 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $15.76, for a total value of $833,814.32. Following the completion of the sale, the insider directly owned 149,369 shares of the company’s stock, 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 legal filing with the SEC, which is available at this hyperlink. Also, insider Didier Papadopoulos sold 15,439 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $16.78, for a total value of $259,066.42. Following the transaction, the insider owned 103,206 shares in the company, valued at approximately $1,731,796.68. This trade represents a 13.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,154,802 shares of company stock worth $17,844,775. 28.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Joby Aviation

Institutional investors have recently made changes to their positions in the business. Ring Mountain Capital LLC acquired a new position in Joby Aviation during the 2nd quarter worth about $211,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Joby Aviation in the 2nd quarter valued at approximately $1,018,000. Intech Investment Management LLC increased its position in shares of Joby Aviation by 70.4% in the 1st quarter. Intech Investment Management LLC now owns 307,135 shares of the company’s stock valued at $1,849,000 after buying an additional 126,908 shares in the last quarter. Toyota Motor Corp increased its stake in Joby Aviation by 63.1% during the 2nd 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 in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Joby Aviation by 16.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 502,909 shares of the company’s stock valued at $3,050,000 after acquiring an additional 71,695 shares in the last quarter. 52.85% of the stock is currently owned by 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.