Joby Aviation (NYSE:JOBY) Stock Price Up 5.7% - Should You Buy?

Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) rose 5.7% during mid-day trading on Friday . The company traded as high as $6.67 and last traded at $6.67. Approximately 4,299,170 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 12,485,188 shares. The stock had previously closed at $6.31.

Analyst Ratings Changes

JOBY has been the topic of several research reports. Morgan Stanley reaffirmed an "equal weight" rating and set a $7.00 price objective (down from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. HC Wainwright reiterated a "buy" rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, April 30th. Needham & Company LLC restated a "buy" rating and set a $10.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. Canaccord Genuity Group increased their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Joby Aviation has a consensus rating of "Moderate Buy" and a consensus target price of $8.58.

Joby Aviation Price Performance

The firm's 50 day moving average price is $6.22 and its 200-day moving average price is $7.04. The stock has a market cap of $5.16 billion, a P/E ratio of -9.35 and a beta of 2.34.

Insider Activity at Joby Aviation

In other news, insider Kate Dehoff sold 6,903 shares of Joby Aviation stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $7.43, for a total value of $51,289.29. Following the completion of the sale, the insider now directly owns 202,276 shares in the company, valued at $1,502,910.68. The trade was a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joeben Bevirt sold 10,785 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $7.43, for a total transaction of $80,132.55. Following the transaction, the chief executive officer now directly owns 793,036 shares of the company's stock, valued at $5,892,257.48. The trade was a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 668,827 shares of company stock valued at $4,108,524. 32.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of JOBY. Whittier Trust Co. purchased a new stake in shares of Joby Aviation during the 4th quarter valued at about $38,000. Allworth Financial LP raised its position in Joby Aviation by 200.6% in the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company's stock worth $44,000 after acquiring an additional 3,320 shares during the period. Compagnie Lombard Odier SCmA purchased a new position in shares of Joby Aviation during the 4th quarter worth $41,000. Toronto Dominion Bank bought a new stake in shares of Joby Aviation during the 4th quarter valued at $41,000. Finally, Carolinas Wealth Consulting LLC purchased a new stake in shares of Joby Aviation in the 4th quarter worth $41,000. 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.