Joby Aviation (NYSE:JOBY) Trading Up 3.8% - Time to Buy?

Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) shot up 3.8% during trading on Thursday . The stock traded as high as $6.42 and last traded at $6.40. 3,196,905 shares traded hands during trading, a decline of 72% from the average session volume of 11,425,622 shares. The stock had previously closed at $6.16.

Analyst Ratings Changes

JOBY has been the topic of several recent analyst reports. HC Wainwright reiterated a "buy" rating and issued a $9.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Thursday, February 27th. Canaccord Genuity Group raised their target price on Joby Aviation from $9.75 to $11.50 and gave the company a "buy" rating in a report on Wednesday, January 8th. Morgan Stanley reiterated an "equal weight" rating and set a $7.00 price target (down from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. lowered 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. One equities research 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.58.

Joby Aviation Price Performance

The stock has a market cap of $5.08 billion, a price-to-earnings ratio of -9.21 and a beta of 2.35. The stock's 50 day simple moving average is $6.28 and its two-hundred day simple moving average is $7.01.

Insider Activity at Joby Aviation

In other Joby Aviation news, Director Paul Cahill Sciarra sold 166,667 shares of the company's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $5.73, for a total transaction of $955,001.91. Following the transaction, the director now owns 58,328,061 shares of the company's stock, valued at approximately $334,219,789.53. This represents a 0.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kate Dehoff sold 6,903 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $7.43, for a total value of $51,289.29. Following the completion of the transaction, the insider now directly owns 202,276 shares in the company, valued at approximately $1,502,910.68. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,002,161 shares of company stock valued at $6,781,863 over the last quarter. 32.40% of the stock is owned by company insiders.

Institutional Trading of Joby Aviation

Hedge funds and other institutional investors have recently made changes to their positions in the business. Toyota Motor Corp bought a new stake in Joby Aviation in the 4th quarter valued at $640,259,000. Uber Technologies Inc acquired a new stake in Joby Aviation in the fourth quarter valued at approximately $207,842,000. Vanguard Group Inc. grew its holdings in shares of Joby Aviation by 15.8% during the fourth quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company's stock worth $380,163,000 after purchasing an additional 6,388,232 shares during the last quarter. Nuveen Asset Management LLC increased its position in Joby Aviation by 331.4% in the 4th quarter. Nuveen Asset Management LLC now owns 4,260,082 shares of the company's stock valued at $34,634,000 after acquiring an additional 3,272,597 shares during the period. Finally, Baillie Gifford & Co. lifted its holdings in Joby Aviation by 4.3% during 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 period. 52.85% of the stock is currently 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.