Joby Aviation (NYSE:JOBY) Trading Up 2.5% - Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report)'s stock price traded up 2.5% during trading on Monday . The stock traded as high as $18.53 and last traded at $18.22. 19,053,307 shares were traded during trading, an increase of 17% from the average session volume of 16,314,631 shares. The stock had previously closed at $17.78.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Canaccord Genuity Group reissued a "buy" rating and issued a $12.00 price objective on shares of Joby Aviation in a research report on Wednesday, June 4th. Cantor Fitzgerald reissued a "neutral" rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Monday, June 23rd. HC Wainwright reiterated a "buy" rating and set a $13.00 price objective (up from $9.00) on shares of Joby Aviation in a research note on Monday, June 9th. Morgan Stanley reiterated an "equal weight" rating and issued a $7.00 price objective (down previously from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. Finally, Wall Street Zen upgraded shares of Joby Aviation from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $9.33.

Joby Aviation Trading Down 0.3%

The firm's 50-day moving average is $10.20 and its 200-day moving average is $8.10. The firm has a market cap of $13.88 billion, a price-to-earnings ratio of -20.88 and a beta of 2.47.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.07. Joby Aviation had a negative net margin of 447,083.78% and a negative return on equity of 63.27%. During the same period in the prior year, the company posted ($0.14) earnings per share. Analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity at Joby Aviation

In other news, insider Kate Dehoff sold 20,823 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $13.67, for a total transaction of $284,650.41. Following the completion of the transaction, the insider owned 202,276 shares of the company's stock, valued at approximately $2,765,112.92. The trade was a 9.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gregory Bowles sold 7,961 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $10.28, for a total value of $81,839.08. Following the completion of the sale, the insider directly owned 153,280 shares of the company's stock, valued at approximately $1,575,718.40. This represents a 4.94% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,867,653 shares of company stock worth $19,256,442. 28.50% of the stock is owned by company insiders.

Institutional Trading of Joby Aviation

A number of institutional investors have recently made changes to their positions in the stock. Total Wealth Planning & Management Inc. boosted its stake in shares of Joby Aviation by 12.5% during the second quarter. Total Wealth Planning & Management Inc. now owns 28,264 shares of the company's stock valued at $298,000 after purchasing an additional 3,142 shares during the period. IFP Advisors Inc boosted its stake in shares of Joby Aviation by 137.9% during the second quarter. IFP Advisors Inc now owns 9,030 shares of the company's stock valued at $95,000 after purchasing an additional 5,234 shares during the period. Valeo Financial Advisors LLC purchased a new stake in shares of Joby Aviation during the second quarter valued at approximately $461,000. Ameritas Advisory Services LLC purchased a new stake in shares of Joby Aviation during the second quarter valued at approximately $39,000. Finally, Signaturefd LLC boosted its stake in shares of Joby Aviation by 459.6% during the second quarter. Signaturefd LLC now owns 9,362 shares of the company's stock valued at $99,000 after purchasing an additional 7,689 shares during the period. 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.