Joby Aviation (NYSE:JOBY) Trading Up 1.7% – Time to Buy?

Joby Aviation, Inc. (NYSE:JOBY)’s stock price rose 1.7% on Thursday . The company traded as high as $9.94 and last traded at $9.7050. Approximately 17,733,473 shares were traded during trading, a decline of 37% from the average daily volume of 28,105,279 shares. The stock had previously closed at $9.54.

Wall Street Analysts Forecast Growth

JOBY has been the subject of a number of recent research reports. Oppenheimer set a $18.00 price objective on shares of Joby Aviation in a research report on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a report on Thursday, January 22nd. JPMorgan Chase & Co. decreased their target price on Joby Aviation from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Thursday, February 26th. Needham & Company LLC lowered their target price on Joby Aviation to $18.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Finally, HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a research report on Thursday, March 12th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Joby Aviation presently has an average rating of “Reduce” and an average target price of $13.81.

Joby Aviation Stock Performance

The firm has a market capitalization of $8.44 billion, a P/E ratio of -8.12 and a beta of 2.59. The business has a fifty day moving average of $11.19 and a 200-day moving average of $13.77.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.06. The business had revenue of $30.84 million for the quarter, compared to analyst estimates of $16.88 million. The company’s revenue was up 5506.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.34) EPS. On average, equities 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 other news, insider Kate Dehoff sold 28,260 shares of the company’s 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 completion of the sale, the insider owned 149,369 shares in the company, valued at $2,198,711.68. This represents a 15.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Bonny W. Simi sold 110,173 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $13.85, for a total value of $1,525,896.05. Following 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,486,368 shares of company stock worth $16,211,332 in the last 90 days. Corporate insiders own 28.50% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Institutional investors and hedge funds have recently bought and sold shares of the business. Sowell Financial Services LLC acquired a new position in Joby Aviation in the third quarter worth approximately $663,000. Pier 88 Investment Partners LLC acquired a new stake in shares of Joby Aviation during the 3rd quarter valued at $635,000. Voya Investment Management LLC boosted its stake in shares of Joby Aviation by 20.0% during the 3rd quarter. Voya Investment Management LLC now owns 1,150,050 shares of the company’s stock worth $18,562,000 after acquiring an additional 192,064 shares in the last quarter. Valeo Financial Advisors LLC bought a new stake in shares of Joby Aviation during the 2nd quarter worth $461,000. Finally, Udine Wealth Management Inc. acquired a new position in shares of Joby Aviation in the 3rd quarter worth $1,414,000. 52.85% of the stock is owned by institutional investors and hedge funds.

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.