Joby Aviation (NYSE:JOBY) Trading 5.6% Higher - Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report)'s stock price was up 5.6% during trading on Friday . The stock traded as high as $7.94 and last traded at $7.99. Approximately 4,791,801 shares were traded during trading, a decline of 63% from the average daily volume of 13,052,246 shares. The stock had previously closed at $7.56.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on JOBY. Cantor Fitzgerald restated an "overweight" rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Monday, May 5th. JPMorgan Chase & Co. reduced their price objective on shares of Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $12.00 target price on shares of Joby Aviation in a report on Wednesday. Finally, HC Wainwright reissued a "buy" rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Joby Aviation has a consensus rating of "Moderate Buy" and a consensus price target of $8.67.

Joby Aviation Price Performance

The company's 50-day moving average price is $6.61 and its two-hundred day moving average price is $7.31. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of -11.64 and a beta of 2.39.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same quarter in the previous year, the company earned ($0.14) EPS. On average, equities research analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity at Joby Aviation

In other news, insider Bonny W. Simi sold 9,695 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $6.78, for a total transaction of $65,732.10. Following the transaction, the insider now owns 146,941 shares of the company's stock, valued at $996,259.98. This represents a 6.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul Cahill Sciarra sold 166,667 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $6.78, for a total value of $1,130,002.26. Following the completion of the sale, the director now owns 58,494,728 shares of the company's stock, valued at approximately $396,594,255.84. This represents a 0.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 750,950 shares of company stock worth $4,640,619 in the last 90 days. Corporate insiders own 28.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its holdings in shares of Joby Aviation by 5.4% during the first quarter. Rhumbline Advisers now owns 626,743 shares of the company's stock valued at $3,773,000 after acquiring an additional 32,324 shares in the last quarter. Strs Ohio acquired a new stake in Joby Aviation in the 1st quarter valued at $37,000. Intech Investment Management LLC increased its stake in Joby Aviation by 70.4% during the 1st quarter. Intech Investment Management LLC now owns 307,135 shares of the company's stock valued at $1,849,000 after purchasing an additional 126,908 shares in the last quarter. Integrity Alliance LLC. bought a new stake in Joby Aviation during the 1st quarter valued at $124,000. Finally, PharVision Advisers LLC acquired a new position in Joby Aviation during the first quarter worth $61,000. Institutional investors own 52.85% of the company's stock.

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.