Joby Aviation (NYSE:JOBY) Trading Up 0.4% - Time to Buy?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) was up 0.4% during mid-day trading on Thursday . The company traded as high as $6.00 and last traded at $5.82. Approximately 4,168,677 shares changed hands during trading, a decline of 63% from the average daily volume of 11,288,155 shares. The stock had previously closed at $5.79.

Analysts Set New Price Targets

JOBY has been the subject of a number of analyst reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. HC Wainwright reiterated a "buy" rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $7.00 price target (down previously from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. JPMorgan Chase & Co. decreased their target price on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating for the company in a research report on Thursday, February 27th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $8.58.

Joby Aviation Stock Performance

The firm has a 50 day simple moving average of $6.43 and a 200 day simple moving average of $6.99. The firm has a market cap of $4.58 billion, a P/E ratio of -8.30 and a beta of 2.35.

Insider Activity

In related news, CEO Joeben Bevirt sold 250,000 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $5.89, for a total value of $1,472,500.00. Following the completion of the sale, the chief executive officer now owns 32,275,793 shares in the company, valued at $190,104,420.77. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Eric Allison sold 24,395 shares of Joby Aviation stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $6.04, for a total transaction of $147,345.80. Following the transaction, the insider now directly owns 627,726 shares in the company, valued at $3,791,465.04. This trade represents a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 823,112 shares of company stock worth $5,754,922 in the last three months. Corporate insiders own 32.40% of the company's stock.

Institutional Investors Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently modified their holdings of the stock. Toyota Motor Corp purchased a new stake in shares of Joby Aviation during the fourth quarter valued at approximately $640,259,000. Uber Technologies Inc bought a new stake in shares of Joby Aviation in the fourth quarter worth about $207,842,000. Vanguard Group Inc. lifted its holdings in Joby Aviation by 15.8% in the 4th quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company's stock worth $380,163,000 after buying an additional 6,388,232 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of Joby Aviation by 331.4% during the fourth quarter. Nuveen Asset Management LLC now owns 4,260,082 shares of the company's stock valued at $34,634,000 after acquiring an additional 3,272,597 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its holdings in Joby Aviation by 4.3% in the fourth quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company's stock valued at $447,412,000 after acquiring an additional 2,281,161 shares in the last quarter. 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.