Joby Aviation (NYSE:JOBY) Shares Up 1.3% – Still a Buy?

Shares of Joby Aviation, Inc. (NYSE:JOBY) shot up 1.3% on Thursday . The company traded as high as $15.04 and last traded at $14.49. 19,755,706 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 26,898,510 shares. The stock had previously closed at $14.30.

Wall Street Analysts Forecast Growth

JOBY has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Friday, October 31st. The Goldman Sachs Group assumed coverage on shares of Joby Aviation in a research note on Monday, December 1st. They set a “sell” rating and a $10.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price target on shares of Joby Aviation in a research note on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a research report on Wednesday, October 8th. Finally, HC Wainwright restated a “neutral” rating on shares of Joby Aviation in a research note on Monday, November 24th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Joby Aviation has an average rating of “Reduce” and a consensus target price of $13.43.

Joby Aviation Stock Performance

The company’s 50 day moving average price is $14.48 and its 200-day moving average price is $15.33. The stock has a market cap of $13.21 billion, a P/E ratio of -10.81 and a beta of 2.56.

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

Insider Transactions at Joby Aviation

In other news, insider Bonny W. Simi sold 110,173 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $13.85, for a total value of $1,525,896.05. Following the completion of the transaction, the insider directly owned 125,114 shares of the company’s stock, valued at $1,732,828.90. This represents a 46.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kate Dehoff sold 28,260 shares of Joby Aviation stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $14.72, for a total value of $415,987.20. Following the sale, the insider owned 149,369 shares in the company, valued at $2,198,711.68. This trade represents a 15.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 289,556 shares of company stock worth $4,052,822. 28.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently made changes to their positions in JOBY. Asset Planning Inc increased its holdings in Joby Aviation by 70.0% during the third quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock worth $27,000 after buying an additional 700 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Joby Aviation by 284.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock worth $27,000 after purchasing an additional 1,880 shares during the last quarter. Canton Hathaway LLC bought a new stake in shares of Joby Aviation in the 3rd quarter worth approximately $29,000. Strategic Advocates LLC bought a new stake in shares of Joby Aviation in the 3rd quarter worth approximately $29,000. Finally, Hilltop National Bank purchased a new position in Joby Aviation in the third quarter valued at approximately $32,000. 52.85% of the stock is owned by hedge funds and other institutional investors.

About Joby Aviation

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.