Joby Aviation (NYSE:JOBY) Shares Up 6.3% – Time to Buy?

Joby Aviation, Inc. (NYSE:JOBY)’s stock price traded up 6.3% during trading on Tuesday . The company traded as high as $8.35 and last traded at $8.33. 8,134,651 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 13,099,999 shares. The stock had previously closed at $7.83.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Canaccord Genuity Group boosted their target price on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Needham & Company LLC boosted their target price on Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. downgraded Joby Aviation from a “neutral” rating to an “underweight” rating and boosted their target price for the stock from $5.00 to $6.00 in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.30.

Joby Aviation Price Performance

The business has a 50-day simple moving average of $8.29 and a 200-day simple moving average of $6.62. The firm has a market capitalization of $6.06 billion, a PE ratio of -11.31 and a beta of 2.33.

Insider Buying and Selling at Joby Aviation

In other news, insider Kate Dehoff sold 6,903 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $7.43, for a total transaction of $51,289.29. Following the transaction, the insider now owns 202,276 shares of the company’s stock, valued at approximately $1,502,910.68. This represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Didier Papadopoulos sold 6,005 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $7.65, for a total value of $45,938.25. Following the transaction, the insider now directly owns 54,776 shares in the company, valued at approximately $419,036.40. This represents a 9.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,025,284 shares of company stock worth $8,683,241 over the last ninety days. Company insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Bouvel Investment Partners LLC grew its stake in shares of Joby Aviation by 1.4% during the fourth quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company’s stock valued at $1,007,000 after buying an additional 1,715 shares during the last quarter. NewEdge Advisors LLC grew its stake in Joby Aviation by 9.9% in the fourth quarter. NewEdge Advisors LLC now owns 21,505 shares of the company’s stock worth $175,000 after purchasing an additional 1,935 shares in the last quarter. Gallagher Fiduciary Advisors LLC grew its stake in Joby Aviation by 3.1% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 66,800 shares of the company’s stock worth $543,000 after purchasing an additional 2,000 shares in the last quarter. Private Advisor Group LLC grew its stake in Joby Aviation by 6.6% in the fourth quarter. Private Advisor Group LLC now owns 36,774 shares of the company’s stock worth $299,000 after purchasing an additional 2,261 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in Joby Aviation by 35.3% in the fourth quarter. Larson Financial Group LLC now owns 9,864 shares of the company’s stock worth $80,000 after purchasing an additional 2,574 shares in the last quarter. 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.