Joby Aviation (NYSE:JOBY) Trading Up 5.3% – Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY)’s share price was up 5.3% during mid-day trading on Wednesday . The company traded as high as $6.83 and last traded at $6.85. Approximately 3,218,549 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 13,183,083 shares. The stock had previously closed at $6.50.

Analyst Ratings Changes

A number of research analysts recently issued reports on JOBY shares. Needham & Company LLC boosted their price objective on Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Canaccord Genuity Group increased their price objective on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a report on Wednesday, January 8th. HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. lowered shares of Joby Aviation from a “neutral” rating to an “underweight” rating and boosted their target price for the stock from $5.00 to $6.00 in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, Joby Aviation currently has an average rating of “Moderate Buy” and a consensus price target of $9.30.

Joby Aviation Trading Up 2.8 %

The stock has a market capitalization of $5.11 billion, a P/E ratio of -9.61 and a beta of 2.33. The company has a fifty day simple moving average of $8.19 and a two-hundred day simple moving average of $6.71.

Insider Buying and Selling at Joby Aviation

In related news, insider Kate Dehoff sold 6,903 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $7.43, for a total value of $51,289.29. Following the completion of the sale, the insider now directly owns 202,276 shares in the company, valued at approximately $1,502,910.68. The trade was a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Didier Papadopoulos sold 6,005 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $7.65, for a total transaction of $45,938.25. Following the transaction, the insider now owns 54,776 shares of the company’s stock, valued at approximately $419,036.40. This represents a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,018,699 shares of company stock valued at $8,628,124. Corporate insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors have recently made changes to their positions in JOBY. Whittier Trust Co. acquired a new position in shares of Joby Aviation during the fourth quarter valued at about $38,000. Allworth Financial LP increased its stake in Joby Aviation by 200.6% in the 4th quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock valued at $44,000 after buying an additional 3,320 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of Joby Aviation in the 4th quarter worth approximately $41,000. Toronto Dominion Bank bought a new position in shares of Joby Aviation in the fourth quarter valued at approximately $41,000. Finally, Salem Investment Counselors Inc. grew its holdings in shares of Joby Aviation by 5,000.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock valued at $41,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors own 52.85% of the company’s stock.

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.