Joby Aviation (NYSE:JOBY) Trading Up 0.5% – Should You Buy?

by · The Cerbat Gem

Joby Aviation, Inc. (NYSE:JOBY – Get Free Report)’s stock price traded up 0.5% during trading on Monday . The stock traded as high as $5.94 and last traded at $5.64. 3,721,357 shares changed hands during trading, a decline of 39% from the average session volume of 6,057,595 shares. The stock had previously closed at $5.61.

Wall Street Analysts Forecast Growth

JOBY has been the topic of a number of research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.50 price target on shares of Joby Aviation in a research report on Friday, October 4th. HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th.

Read Our Latest Report on JOBY

Joby Aviation Price Performance

The stock’s fifty day simple moving average is $5.25 and its two-hundred day simple moving average is $5.25. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of -7.42 and a beta of 1.97.

Joby Aviation (NYSE:JOBY – Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.18). The business had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.28 million. During the same period in the prior year, the business earned ($0.17) EPS. On average, sell-side analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Activity at Joby Aviation

In related news, insider Matthew Field sold 5,643 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $5.96, for a total transaction of $33,632.28. Following the transaction, the insider now owns 293,143 shares in the company, valued at $1,747,132.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Matthew Field sold 5,643 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $5.96, for a total transaction of $33,632.28. Following the completion of the transaction, the insider now owns 293,143 shares of the company’s stock, valued at $1,747,132.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joeben Bevirt sold 250,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the completion of the sale, the chief executive officer now owns 32,674,274 shares in the company, valued at approximately $158,470,228.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 525,499 shares of company stock worth $2,667,151 over the last ninety days. 32.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its position in shares of Joby Aviation by 216.3% during the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after purchasing an additional 5,840 shares during the period. Sound Income Strategies LLC raised its holdings in Joby Aviation by 3,311.3% during the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock worth $52,000 after buying an additional 10,000 shares during the period. Integris Wealth Management LLC purchased a new stake in Joby Aviation during the second quarter valued at about $54,000. Dakota Wealth Management acquired a new position in shares of Joby Aviation in the second quarter worth about $56,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Joby Aviation during the 2nd quarter worth approximately $57,000. Institutional investors own 45.54% of the company’s stock.

About Joby Aviation

(Get Free Report)

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.

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