Joby Aviation (NYSE:JOBY) Trading 1.3% Higher - Should You Buy?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report)'s stock price was up 1.3% during trading on Friday . The company traded as high as $6.00 and last traded at $5.86. Approximately 11,563,126 shares traded hands during trading, an increase of 2% from the average daily volume of 11,345,349 shares. The stock had previously closed at $5.79.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on JOBY. HC Wainwright reaffirmed a "buy" rating and issued a $9.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. Morgan Stanley restated an "equal weight" rating and set a $7.00 price target (down previously from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. JPMorgan Chase & Co. lowered their target price on shares of Joby Aviation from $6.00 to $5.00 and set an "underweight" rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. Finally, Canaccord Genuity Group upped their target price on Joby Aviation from $9.75 to $11.50 and gave the company a "buy" rating in a research report on Wednesday, January 8th. One 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $8.58.

Joby Aviation Trading Up 1.4 %

The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of -8.41 and a beta of 2.35. The firm has a 50-day simple moving average of $6.40 and a two-hundred day simple moving average of $6.99.

Insider Buying and Selling at Joby Aviation

In other news, Director Paul Cahill Sciarra sold 333,334 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $8.02, for a total transaction of $2,673,338.68. Following the sale, the director now directly owns 58,661,395 shares in the company, valued at $470,464,387.90. This trade represents a 0.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bonny W. Simi sold 12,382 shares of the company's stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $5.81, for a total value of $71,939.42. Following the completion of the transaction, the insider now directly owns 203,588 shares of the company's stock, valued at $1,182,846.28. The trade was a 5.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 835,494 shares of company stock valued at $5,826,861. 32.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Joby Aviation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JOBY. GAMMA Investing LLC raised its position in shares of Joby Aviation by 773.9% during the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock worth $34,000 after purchasing an additional 5,015 shares during the last quarter. Whittier Trust Co. purchased a new position in shares of Joby Aviation in the fourth quarter valued at approximately $38,000. Salem Investment Counselors Inc. raised its stake in Joby Aviation by 5,000.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company's stock valued at $41,000 after purchasing an additional 5,000 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in Joby Aviation during the 4th quarter worth $41,000. Finally, Toronto Dominion Bank purchased a new position in shares of Joby Aviation in the fourth quarter worth about $41,000. 52.85% of the stock is owned by hedge funds and other institutional investors.

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.