Joby Aviation (NYSE:JOBY) Trading 0.2% Higher – Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY)’s stock price shot up 0.2% on Thursday . The stock traded as high as $6.60 and last traded at $6.59. 2,739,069 shares were traded during trading, a decline of 74% from the average session volume of 10,682,610 shares. The stock had previously closed at $6.57.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and issued a $10.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $9.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. Finally, Canaccord Genuity Group raised their price target on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $8.90.

Joby Aviation Price Performance

The business’s 50 day simple moving average is $7.33 and its 200 day simple moving average is $6.91. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of -9.16 and a beta of 2.35.

Insider Activity at Joby Aviation

In other Joby Aviation news, CEO Joeben Bevirt sold 23,886 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.08, for a total value of $192,998.88. Following the transaction, the chief executive officer now directly owns 768,293 shares of the company’s stock, valued at approximately $6,207,807.44. The trade was a 3.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Didier Papadopoulos sold 7,692 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $10.00, for a total transaction of $76,920.00. Following the transaction, the insider now owns 50,902 shares of the company’s stock, valued at approximately $509,020. The trade was a 13.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,191,832 shares of company stock worth $9,796,214 in the last quarter. Company insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Institutional investors have recently added to or reduced their stakes in the business. Whittier Trust Co. acquired a new stake in shares of Joby Aviation in the 4th quarter valued at approximately $38,000. Allworth Financial LP lifted its stake in shares of Joby Aviation by 200.6% in the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock valued at $44,000 after purchasing an additional 3,320 shares during the period. Compagnie Lombard Odier SCmA acquired a new position in Joby Aviation during the fourth quarter worth about $41,000. Toronto Dominion Bank purchased a new position in Joby Aviation in the fourth quarter valued at about $41,000. Finally, Carolinas Wealth Consulting LLC purchased a new position in Joby Aviation in the fourth quarter valued at about $41,000. Hedge funds and other institutional investors own 52.85% of the company’s stock.

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.