Joby Aviation (NYSE:JOBY) Trading 4.4% Higher - Time to Buy?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) was up 4.4% during mid-day trading on Tuesday . The stock traded as high as $11.45 and last traded at $11.13. Approximately 10,760,150 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 14,965,317 shares. The stock had previously closed at $10.66.

Analysts Set New Price Targets

Several equities analysts recently issued reports on JOBY shares. Canaccord Genuity Group reissued a "buy" rating and issued a $12.00 target price on shares of Joby Aviation in a research report on Wednesday, June 4th. HC Wainwright reissued a "buy" rating and issued a $13.00 target price (up from $9.00) on shares of Joby Aviation in a research report on Monday, June 9th. Morgan Stanley reaffirmed an "equal weight" rating and set a $7.00 price target (down from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $9.00 price target on shares of Joby Aviation in a research report on Monday, June 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $9.33.

Joby Aviation Trading Up 6.5%

The firm has a 50-day simple moving average of $8.26 and a two-hundred day simple moving average of $7.57. The company has a market capitalization of $9.75 billion, a price-to-earnings ratio of -14.66 and a beta of 2.47.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping 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 quarter last year, the company posted ($0.14) EPS. Equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Buying and Selling at Joby Aviation

In other news, insider Bonny W. Simi sold 8,272 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $9.82, for a total transaction of $81,231.04. Following the sale, the insider directly owned 211,397 shares of the company's stock, valued at $2,075,918.54. This represents a 3.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kate Dehoff sold 13,790 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $9.82, for a total transaction of $135,417.80. Following the completion of the transaction, the insider directly owned 215,296 shares in the company, valued at $2,114,206.72. This represents a 6.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,514,473 shares of company stock worth $13,527,540. 28.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. purchased a new position in Joby Aviation in the 4th quarter valued at about $38,000. Toronto Dominion Bank acquired a new stake in Joby Aviation in the 4th quarter valued at about $41,000. Carolinas Wealth Consulting LLC acquired a new stake in Joby Aviation in the 4th quarter valued at about $41,000. GAMMA Investing LLC raised its holdings in Joby Aviation by 773.9% in the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock valued at $34,000 after acquiring an additional 5,015 shares during the last quarter. Finally, Covestor Ltd raised its holdings in Joby Aviation by 195.8% in the 4th quarter. Covestor Ltd now owns 6,022 shares of the company's stock valued at $50,000 after acquiring an additional 3,986 shares during the last quarter. 52.85% of the stock is owned by hedge funds and other institutional investors.

Joby Aviation Company Profile

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.