Joby Aviation (NYSE:JOBY) Shares Up 19.2% – Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY) shares rose 19.2% during trading on Friday . The stock traded as high as $9.67 and last traded at $9.64. Approximately 13,987,660 shares were traded during trading, an increase of 18% from the average daily volume of 11,806,186 shares. The stock had previously closed at $8.09.

Wall Street Analysts Forecast Growth

JOBY has been the subject of several research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th. Needham & Company LLC assumed coverage on shares of Joby Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $8.00 price target for the company. Canaccord Genuity Group dropped their price objective on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. JPMorgan Chase & Co. decreased their target price on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” 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 analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.35.

Joby Aviation Trading Up 20.8 %

The company’s 50 day moving average price is $7.18 and its 200 day moving average price is $6.04. The company has a market cap of $7.47 billion, a price-to-earnings ratio of -13.96 and a beta of 2.32.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The firm had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same quarter in the previous year, the business earned ($0.13) EPS. Sell-side analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Joeben Bevirt sold 23,886 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.08, for a total transaction of $192,998.88. Following the sale, the chief executive officer now 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Allison sold 27,817 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $5.56, for a total transaction of $154,662.52. Following the transaction, the insider now owns 463,151 shares in the company, valued at $2,575,119.56. The trade was a 5.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,111 shares of company stock valued at $674,055 over the last quarter. Company insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ieq Capital LLC raised its stake in shares of Joby Aviation by 68.6% during the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after buying an additional 1,807,054 shares during the last quarter. State Street Corp increased its holdings in Joby Aviation by 9.5% during the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after acquiring an additional 812,248 shares in the last quarter. Geode Capital Management LLC raised its position in Joby Aviation by 7.7% during 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 grew its position in shares of 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 purchasing an additional 616,579 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Joby Aviation by 41.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock worth $7,521,000 after purchasing an additional 435,069 shares in 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.