Joby Aviation (NYSE:JOBY) Stock Price Up 2.1% – Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY) shares shot up 2.1% during mid-day trading on Tuesday . The stock traded as high as $9.82 and last traded at $9.7390. 19,728,680 shares changed hands during trading, a decline of 33% from the average session volume of 29,239,230 shares. The stock had previously closed at $9.54.

Analysts Set New Price Targets

Several analysts have issued reports on JOBY shares. Canaccord Genuity Group reissued a “hold” rating and set a $15.50 price target on shares of Joby Aviation in a report on Tuesday, February 3rd. Needham & Company LLC reiterated a “buy” rating and set a $22.00 price objective on shares of Joby Aviation in a research report on Thursday, November 6th. HC Wainwright reissued a “neutral” rating on shares of Joby Aviation in a research report on Monday, November 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Joby Aviation in a research report on Thursday, January 22nd. Finally, The Goldman Sachs Group started coverage on Joby Aviation in a report on Monday, December 1st. They set a “sell” rating and a $10.00 price objective for the company. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Joby Aviation currently has an average rating of “Reduce” and a consensus price target of $13.21.

Joby Aviation Stock Performance

The company has a market capitalization of $8.88 billion, a P/E ratio of -7.27 and a beta of 2.57. The company’s fifty day simple moving average is $12.90 and its 200-day simple moving average is $14.51.

Insider Buying and Selling at Joby Aviation

In related news, CEO Joeben Bevirt sold 507,182 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $10.62, for a total transaction 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 $339,816,657.24. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bonny W. Simi sold 110,173 shares of Joby Aviation stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $13.85, for a total transaction of $1,525,896.05. Following the completion of the transaction, the insider directly owned 125,114 shares in the company, valued at $1,732,828.90. This represents a 46.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,454,993 shares of company stock worth $15,939,012. 32.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Joby Aviation

A number of large investors have recently modified their holdings of the business. CWM LLC boosted its stake in Joby Aviation by 8.1% in the 2nd quarter. CWM LLC now owns 9,156 shares of the company’s stock worth $97,000 after purchasing an additional 689 shares in the last quarter. GPS Wealth Strategies Group LLC raised its holdings in shares of Joby Aviation by 22.5% in the third quarter. GPS Wealth Strategies Group LLC now owns 3,794 shares of the company’s stock worth $61,000 after buying an additional 697 shares during the last quarter. Asset Planning Inc lifted its stake in shares of Joby Aviation by 70.0% during the third quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock worth $27,000 after buying an additional 700 shares during the period. GoalVest Advisory LLC grew its holdings in shares of Joby Aviation by 2.1% during the fourth quarter. GoalVest Advisory LLC now owns 33,500 shares of the company’s stock valued at $442,000 after buying an additional 700 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of Joby Aviation by 4.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 16,705 shares of the company’s stock valued at $270,000 after acquiring an additional 736 shares during the period. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Joby Aviation Company Profile

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.