Joby Aviation (NYSE:JOBY) Trading Up 8.8% – Time to Buy?

Shares of Joby Aviation, Inc. (NYSE:JOBY) traded up 8.8% during trading on Friday . The stock traded as high as $14.40 and last traded at $14.3660. 21,739,475 shares were traded during trading, an increase of 41% from the average session volume of 15,424,115 shares. The stock had previously closed at $13.20.

Wall Street Analysts Forecast Growth

JOBY has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “neutral” rating on shares of Joby Aviation in a report on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Joby Aviation in a research note on Wednesday, October 8th. Morgan Stanley increased their target price on Joby Aviation from $7.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 9th. The Goldman Sachs Group initiated coverage on Joby Aviation in a report on Monday, December 1st. They issued a “sell” rating and a $10.00 price target on the stock. Finally, Zacks Research upgraded Joby Aviation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $13.43.

Joby Aviation Trading Up 8.8%

The stock has a 50 day simple moving average of $14.67 and a 200-day simple moving average of $14.72. The firm has a market cap of $13.10 billion, a P/E ratio of -10.72 and a beta of 2.56.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The business had revenue of $22.57 million for the quarter, compared to analyst estimates of $0.02 million. The firm’s revenue was up 7962.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.21) EPS. As a group, equities analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Joby Aviation news, insider Gregory Bowles sold 3,931 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $13.72, for a total transaction of $53,933.32. Following the sale, the insider directly owned 159,085 shares in the company, valued at $2,182,646.20. This represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kate Dehoff sold 20,824 shares of Joby Aviation stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $17.48, for a total value of $364,003.52. Following the completion of the transaction, the insider owned 149,369 shares of the company’s stock, valued at approximately $2,610,970.12. This trade represents a 12.24% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 105,572 shares of company stock valued at $1,629,617. Insiders own 28.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Allworth Financial LP lifted its holdings in Joby Aviation by 311.9% during the 3rd quarter. Allworth Financial LP now owns 29,642 shares of the company’s stock valued at $478,000 after buying an additional 22,445 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Joby Aviation by 158.1% during the third quarter. IFP Advisors Inc now owns 23,309 shares of the company’s stock valued at $376,000 after acquiring an additional 14,279 shares in the last quarter. Strategic Advocates LLC purchased a new stake in shares of Joby Aviation in the third quarter valued at approximately $29,000. CIBC Bancorp USA Inc. bought a new position in Joby Aviation in the third quarter worth approximately $794,000. Finally, Centaurus Financial Inc. raised its position in Joby Aviation by 69.2% during the 3rd quarter. Centaurus Financial Inc. now owns 21,709 shares of the company’s stock valued at $350,000 after purchasing an additional 8,882 shares in the last quarter. 52.85% of the stock is currently owned by institutional investors.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.