Joby Aviation (NYSE:JOBY) Trading Up 1.7% – Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY) was up 1.7% during mid-day trading on Monday . The company traded as high as $7.18 and last traded at $6.90. Approximately 3,836,233 shares were traded during trading, a decline of 67% from the average daily volume of 11,740,830 shares. The stock had previously closed at $6.78.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on JOBY shares. Cantor Fitzgerald restated an “overweight” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Monday, May 5th. JPMorgan Chase & Co. decreased their price objective on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. Morgan Stanley reiterated an “equal weight” rating and issued a $7.00 price target (down previously from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. Finally, HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.67.

Joby Aviation Stock Up 3.2%

The company’s fifty day moving average is $6.21 and its 200 day moving average is $7.06. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of -9.99 and a beta of 2.34.

Insider Buying and Selling at Joby Aviation

In other news, CEO Joeben Bevirt sold 10,785 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $7.43, for a total transaction of $80,132.55. Following the transaction, the chief executive officer now directly owns 793,036 shares in the company, valued at $5,892,257.48. The trade was a 1.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bonny W. Simi sold 9,695 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $6.78, for a total transaction of $65,732.10. Following the transaction, the insider now owns 146,941 shares in the company, valued at $996,259.98. This represents a 6.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 671,726 shares of company stock worth $4,128,817. Insiders own 28.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in JOBY. GAMMA Investing LLC boosted its stake 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 acquiring an additional 5,015 shares during the period. Whittier Trust Co. bought a new position in shares of Joby Aviation in the fourth quarter valued at about $38,000. Salem Investment Counselors Inc. raised its position 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 purchasing an additional 5,000 shares during the period. Compagnie Lombard Odier SCmA bought a new position in shares of Joby Aviation in the fourth quarter valued at about $41,000. Finally, Toronto Dominion Bank bought a new position in shares of Joby Aviation in the fourth quarter valued at about $41,000. 52.85% of the stock is currently owned by 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.