Joby Aviation (NYSE:JOBY) Shares Up 1.3% - Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) was up 1.3% on Thursday . The company traded as high as $8.09 and last traded at $7.98. Approximately 6,951,182 shares were traded during trading, a decline of 47% from the average daily volume of 12,993,531 shares. The stock had previously closed at $7.87.

Wall Street Analyst Weigh In

A number of analysts have weighed in on JOBY shares. Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. Morgan Stanley restated an "equal weight" rating and issued a $7.00 target price (down previously from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. JPMorgan Chase & Co. dropped their target price on shares of Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a report on Thursday, February 27th. Canaccord Genuity Group reiterated a "buy" rating and set a $12.00 price objective on shares of Joby Aviation in a report on Wednesday. Finally, HC Wainwright reiterated a "buy" rating and set a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Joby Aviation presently has a consensus rating of "Moderate Buy" and an average target price of $8.67.

Joby Aviation Trading Up 6.0%

The firm has a market capitalization of $6.35 billion, a P/E ratio of -11.36 and a beta of 2.39. The stock's 50-day simple moving average is $6.57 and its 200-day simple moving average is $7.30.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced 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 posted ($0.14) EPS. On average, equities research analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Activity at Joby Aviation

In other news, Director Motor Corp/ Toyota bought 49,701,790 shares of the stock in a transaction on Thursday, May 22nd. The shares were acquired at an average cost of $5.03 per share, for a total transaction of $250,000,003.70. Following the purchase, the director now directly owns 122,573,621 shares of the company's stock, valued at $616,545,313.63. This trade represents a 68.20% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bonny W. Simi sold 9,695 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $6.78, for a total transaction of $65,732.10. Following the completion of the transaction, the insider now directly owns 146,941 shares in the company, valued at $996,259.98. The trade was a 6.19% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 750,950 shares of company stock worth $4,640,619. 28.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Joby Aviation

A number of institutional investors have recently made changes to their positions in the stock. Toyota Motor Corp bought a new position in shares of Joby Aviation in the 4th quarter worth $640,259,000. Baillie Gifford & Co. increased its holdings in shares of Joby Aviation by 4.3% in the 4th quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company's stock worth $447,412,000 after buying an additional 2,281,161 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of 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 last quarter. Uber Technologies Inc bought a new position in shares of Joby Aviation in the 4th quarter worth $207,842,000. Finally, Geode Capital Management LLC increased its holdings in shares of Joby Aviation by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 10,208,358 shares of the company's stock worth $83,015,000 after buying an additional 817,638 shares during the last quarter. 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.