Joby Aviation (NYSE:JOBY) Stock Price Up 11.3% - Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY) experienced a significant surge in its stock price, rising by 11.3% on Tuesday. The stock peaked at $8.94 before closing at $9.10. In total, 6,048,507 shares changed hands, which is a notable decline of 63% compared to the average trading volume of 16,437,955 shares. The stock had previously ended the session at $8.17.

Expert Opinions on Joby Aviation

Several analysts have recently provided their insights on JOBY shares. Needham & Company LLC upgraded their price target for Joby Aviation from $8.00 to $10.00 and issued a "buy" rating. Canaccord Genuity Group also raised their price target from $9.75 to $11.50, maintaining a "buy" rating. Conversely, JPMorgan Chase & Co. downgraded the stock from "neutral" to "underweight," while raising their price target from $5.00 to $6.00. HC Wainwright reiterated a "buy" rating with a target price of $9.00, and Cantor Fitzgerald maintained an "overweight" rating with a price target of $10.00. Currently, one analyst rates the stock as a sell, while four analysts have assigned it a buy rating. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a price target of $9.30.

Current Stock Overview

Despite the recent uptick, Joby Aviation's stock is down 1.1% overall. The company has a market capitalization of $6.64 billion, with a price-to-earnings ratio of -12.39 and a beta of 2.33. Its fifty-day moving average stands at $8.09, while the 200-day moving average is $6.39. Joby Aviation announced its latest quarterly earnings on November 6, where it reported a loss of ($0.21) per share, missing the consensus estimate of ($0.19) by $0.02. The company also reported a negative net margin of 42,844.57% and a negative return on equity of 51.76%. Joby generated revenue of $0.28 million during the quarter, outperforming the analyst expectations of $0.06 million. Analysts anticipate that Joby Aviation will report an earnings per share of -0.69 for the current fiscal year.

Insider Trading Activity

In recent insider trading, Didier Papadopoulos sold 6,005 shares at an average price of $7.65, totaling around $45,938.25. After this sale, he holds 54,776 shares valued at approximately $419,036.40, reflecting a 9.88% decline in his ownership. Likewise, Bonny W. Simi sold 31,489 shares at an average price of $8.33, bringing her total sale amount to $262,303.37. Following this transaction, she retains 137,097 shares valued at $1,142,018.01, signifying an 18.68% decrease in her ownership. In total, over the last ninety days, insiders have sold 672,338 shares worth $5,864,050, while corporate insiders own 32.40% of the stock.

Institutional Investor Activity

Notably, several institutional investors have adjusted their positions in Joby Aviation recently. Flagship Harbor Advisors LLC increased its ownership by 51.6%, now holding 30,476 shares valued at $248,000 after acquiring an additional 10,370 shares. Sound Income Strategies LLC grew its stake by 111.3%, now owning 21,773 shares worth $177,000. Other firms, including GoalVest Advisory LLC and SG Americas Securities LLC, have also expanded their holdings in Joby. Currently, institutional investors and hedge funds own approximately 52.85% of the company's stock.

Overview of Joby Aviation

Joby Aviation is a company focused on creating electric vertical takeoff and landing (eVTOL) aircraft, designed to provide an aerial transportation service. The firm is working towards establishing an aerial ridesharing platform that will allow consumers to easily book flights.

Should You Invest in Joby Aviation?

Considering the recent stock performance and analyst ratings, potential investors might wonder if now is the right time to invest in Joby Aviation. While it presently holds a "Moderate Buy" rating from analysts, it is crucial to evaluate other options in the market before making a decision.

Joby, Stock, Buy