Joby Aviation (NYSE:JOBY) Stock Price Up 1.4% – Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY) shares shot up 1.4% during trading on Wednesday . The stock traded as high as $10.10 and last traded at $9.90. 14,829,539 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 29,483,320 shares. The stock had previously closed at $9.76.

Analyst Ratings Changes

JOBY has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Joby Aviation in a report on Thursday, January 22nd. HC Wainwright upgraded Joby Aviation from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Thursday, February 26th. Zacks Research upgraded shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Needham & Company LLC dropped their target price on shares of Joby Aviation to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Joby Aviation from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Thursday, February 26th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Joby Aviation presently has a consensus rating of “Reduce” and a consensus price target of $13.81.

Joby Aviation Trading Up 1.4%

The firm’s 50 day moving average price is $12.41 and its 200-day moving average price is $14.21. The company has a market cap of $9.03 billion, a P/E ratio of -8.68 and a beta of 2.59.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.06. The business had revenue of $30.84 million for the quarter, compared to the consensus estimate of $16.88 million. During the same period last year, the firm earned ($0.34) earnings per share. The company’s quarterly revenue was up 5506.5% on a year-over-year basis. Analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Joby Aviation news, CEO Joeben Bevirt sold 507,182 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $10.62, for a total value of $5,386,272.84. Following the completion of the sale, the chief executive officer owned 31,997,802 shares of the company’s stock, valued at approximately $339,816,657.24. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bonny W. Simi sold 110,173 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $13.85, for a total transaction of $1,525,896.05. Following the completion of the sale, the insider owned 125,114 shares of the company’s stock, valued at approximately $1,732,828.90. This represents a 46.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,470,074 shares of company stock worth $16,083,913 in the last ninety days. 32.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Joby Aviation

A number of hedge funds have recently modified their holdings of the business. Asset Planning Inc lifted its holdings in shares of Joby Aviation by 70.0% during the 3rd quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock valued at $27,000 after purchasing an additional 700 shares in the last quarter. Strategic Advocates LLC bought a new stake in Joby Aviation during the 3rd quarter worth approximately $29,000. Canton Hathaway LLC acquired a new stake in Joby Aviation during the 3rd quarter worth approximately $29,000. Fifth Third Bancorp lifted its stake in Joby Aviation by 207.4% in the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock valued at $26,000 after buying an additional 1,348 shares in the last quarter. Finally, Hilltop National Bank bought a new position in Joby Aviation in the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

About Joby Aviation

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.