Joby Aviation (NYSE:JOBY) Shares Up 4.4% - Should You Buy?

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

Wall Street Analysts Forecast Growth

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

Joby Aviation Trading Down 1.9%

The firm has a market cap of $9.58 billion, a PE ratio of -14.42 and a beta of 2.47. The firm has a fifty day moving average price of $8.38 and a 200 day moving average price of $7.60.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its quarterly earnings data 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 last year, the company posted ($0.14) EPS. As a group, equities analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Transactions at Joby Aviation

In other Joby Aviation news, insider Kate Dehoff sold 13,790 shares of Joby Aviation stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $9.82, for a total value of $135,417.80. Following the completion of the transaction, the insider directly owned 215,296 shares of the company's stock, valued at $2,114,206.72. The trade was a 6.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Didier Papadopoulos sold 5,102 shares of Joby Aviation stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $10.28, for a total value of $52,448.56. Following the completion of the transaction, the insider directly owned 84,953 shares of the company's stock, valued at approximately $873,316.84. This represents a 5.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,514,473 shares of company stock worth $13,527,540 in the last 90 days. Insiders own 28.50% of the company's stock.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors have recently bought and sold shares of JOBY. Bank of New York Mellon Corp grew its position in Joby Aviation by 7.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,279,027 shares of the company's stock valued at $10,398,000 after acquiring an additional 84,080 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Joby Aviation in the 4th quarter valued at about $145,000. Jones Financial Companies Lllp grew its position in Joby Aviation by 374.3% in the 4th quarter. Jones Financial Companies Lllp now owns 8,703 shares of the company's stock valued at $71,000 after acquiring an additional 6,868 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in Joby Aviation by 488.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,154 shares of the company's stock valued at $83,000 after acquiring an additional 8,427 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Joby Aviation by 10.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company's stock valued at $31,661,000 after acquiring an additional 361,520 shares in the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

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.