Joby Aviation (NYSE:JOBY) Stock Price Up 0.1% – Should You Buy?

Joby Aviation, Inc. (NYSE:JOBY) traded up 0.1% during trading on Wednesday . The stock traded as high as $6.81 and last traded at $6.67. 2,487,626 shares changed hands during trading, a decline of 77% from the average session volume of 10,664,734 shares. The stock had previously closed at $6.66.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $9.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. Canaccord Genuity Group lifted their price objective on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. JPMorgan Chase & Co. dropped their price target on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Thursday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.90.

Joby Aviation Stock Down 1.4 %

The firm has a 50 day simple moving average of $7.36 and a two-hundred day simple moving average of $6.91. The stock has a market capitalization of $5.17 billion, a P/E ratio of -9.37 and a beta of 2.35.

Insider Activity

In other news, insider Kate Dehoff sold 6,903 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $7.43, for a total transaction of $51,289.29. Following the completion of the transaction, the insider now owns 202,276 shares of the company’s stock, valued at approximately $1,502,910.68. This trade represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joeben Bevirt sold 23,886 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $8.08, for a total transaction of $192,998.88. Following the completion of the sale, the chief executive officer now directly owns 768,293 shares in the company, valued at approximately $6,207,807.44. This represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,015,470 shares of company stock worth $8,600,479. Insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bouvel Investment Partners LLC lifted its stake in shares of Joby Aviation by 1.4% in the fourth quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company’s stock worth $1,007,000 after acquiring an additional 1,715 shares during the period. NewEdge Advisors LLC raised its holdings in Joby Aviation by 9.9% during the 4th quarter. NewEdge Advisors LLC now owns 21,505 shares of the company’s stock worth $175,000 after purchasing an additional 1,935 shares during the last quarter. Gallagher Fiduciary Advisors LLC boosted its stake in shares of Joby Aviation by 3.1% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 66,800 shares of the company’s stock valued at $543,000 after purchasing an additional 2,000 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Joby Aviation by 1.1% during the fourth quarter. California State Teachers Retirement System now owns 186,003 shares of the company’s stock worth $1,512,000 after buying an additional 2,065 shares during the period. Finally, Private Advisor Group LLC raised its stake in Joby Aviation by 6.6% during the fourth quarter. Private Advisor Group LLC now owns 36,774 shares of the company’s stock worth $299,000 after buying an additional 2,261 shares during the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

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.