Joby Aviation (NYSE:JOBY) Stock Price Up 4.7% - Should You Buy?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) shot up 4.7% on Thursday . The stock traded as high as $9.15 and last traded at $8.92. 8,353,190 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 14,278,016 shares. The stock had previously closed at $8.52.

Analyst Ratings Changes

JOBY has been the topic of a number of recent research reports. HC Wainwright reiterated a "buy" rating and issued a $13.00 target price (up from $9.00) on shares of Joby Aviation in a research note on Monday, June 9th. Canaccord Genuity Group restated a "buy" rating and issued a $12.00 price target on shares of Joby Aviation in a research note on Wednesday, June 4th. Needham & Company LLC reissued 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 reissued an "equal weight" rating and set a $7.00 target price (down previously from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $9.00 price target on shares of Joby Aviation in a report on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Joby Aviation currently has a consensus rating of "Hold" and an average target price of $9.33.

Joby Aviation Trading Down 0.5%

The firm's fifty day moving average is $7.49 and its 200 day moving average is $7.41. The stock has a market cap of $7.47 billion, a P/E ratio of -11.23 and a beta of 2.39.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 63.27% and a negative net margin of 447,083.78%. During the same period last year, the company posted ($0.14) EPS. Research analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity at Joby Aviation

In related news, Director Paul Cahill Sciarra sold 166,667 shares of the firm's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $5.73, for a total value of $955,001.91. Following the completion of the transaction, the director now owns 58,328,061 shares of the company's stock, valued at approximately $334,219,789.53. This trade represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kate Dehoff sold 9,720 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $6.00, for a total transaction of $58,320.00. Following the transaction, the insider now owns 219,366 shares in the company, valued at $1,316,196. This represents a 4.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 912,605 shares of company stock valued at $6,286,569 in the last three months. Corporate insiders own 28.50% of the company's stock.

Hedge Funds Weigh In On Joby Aviation

A number of institutional investors have recently bought and sold shares of the business. Toyota Motor Corp bought a new position in shares of Joby Aviation during the 4th quarter worth approximately $640,259,000. Vanguard Group Inc. raised its position in shares of Joby Aviation by 15.8% in the fourth quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company's stock valued at $380,163,000 after purchasing an additional 6,388,232 shares during the period. Uber Technologies Inc acquired a new stake in shares of Joby Aviation during the 4th quarter worth about $207,842,000. Geode Capital Management LLC boosted its holdings in shares of Joby Aviation by 8.7% during 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 period. Finally, Rheos Capital Works Inc. grew its stake in Joby Aviation by 89.4% in the 1st quarter. Rheos Capital Works Inc. now owns 4,555,000 shares of the company's stock valued at $27,421,000 after buying an additional 2,150,000 shares during the last quarter. Institutional investors and hedge funds 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.