Joby Aviation (NYSE:JOBY) Stock Price Up 19.2% – Should You Buy?

Joby Aviation, Inc. (NYSE:JOBY)’s stock price shot up 19.2% during mid-day trading on Friday . The stock traded as high as $9.67 and last traded at $9.64. 13,987,660 shares traded hands during mid-day trading, an increase of 18% from the average session volume of 11,806,186 shares. The stock had previously closed at $8.09.

Analyst Ratings Changes

Several brokerages recently weighed in on JOBY. Needham & Company LLC initiated coverage on shares of Joby Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $8.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a research report on Monday, September 30th. JPMorgan Chase & Co. decreased their price objective on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. Canaccord Genuity Group dropped their target price on Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $8.35.

Joby Aviation Stock Performance

The company has a market capitalization of $7.35 billion, a PE ratio of -13.73 and a beta of 2.32. The business has a fifty day moving average price of $7.09 and a 200 day moving average price of $6.01.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. The business had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.06 million. During the same period in the prior year, the business posted ($0.13) EPS. Research analysts forecast 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 Matthew Field sold 5,643 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $5.96, for a total value of $33,632.28. Following the completion of the transaction, the insider now directly owns 293,143 shares of the company’s stock, valued at $1,747,132.28. This represents a 1.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Didier Papadopoulos sold 6,005 shares of Joby Aviation stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $7.65, for a total value of $45,938.25. Following the sale, the insider now directly owns 54,776 shares in the company, valued at approximately $419,036.40. The trade was a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,390 shares of company stock valued at $466,229 over the last quarter. Company insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

Institutional investors have recently added to or reduced their stakes in the stock. Ieq Capital LLC boosted its holdings in Joby Aviation by 68.6% in the second quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after purchasing an additional 1,807,054 shares during the period. State Street Corp raised its stake in Joby Aviation by 9.5% during the third quarter. State Street Corp now owns 9,372,636 shares of the company’s stock worth $47,144,000 after acquiring an additional 812,248 shares during the period. Geode Capital Management LLC lifted its holdings in Joby Aviation by 7.7% in the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after acquiring an additional 670,852 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted its stake in Joby Aviation by 1,018.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after acquiring an additional 616,579 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Joby Aviation by 41.8% during the second quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock valued at $7,521,000 after purchasing an additional 435,069 shares during the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

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.