Joby Aviation (NYSE:JOBY) Hits New 12-Month High – Still a Buy?

Joby Aviation, Inc. (NYSE:JOBY) shares reached a new 52-week high on Saturday . The stock traded as high as $9.82 and last traded at $9.77, with a volume of 29006756 shares changing hands. The stock had previously closed at $8.09.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on JOBY shares. Needham & Company LLC started coverage on shares of Joby Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $8.00 price objective on the stock. HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, December 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a report on Monday, September 30th. Canaccord Genuity Group decreased their price target on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $8.35.

Joby Aviation Trading Up 20.8 %

The firm has a market capitalization of $7.47 billion, a PE ratio of -13.96 and a beta of 2.32. The business has a 50-day moving average of $7.18 and a 200 day moving average of $6.05.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. The firm had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. During the same period in the previous year, the business earned ($0.13) earnings per share. On average, sell-side analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Transactions at Joby Aviation

In other Joby Aviation news, insider Eric Allison sold 27,817 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $5.56, for a total value of $154,662.52. Following the transaction, the insider now directly owns 463,151 shares in the company, valued at $2,575,119.56. The trade was a 5.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kate Dehoff sold 27,898 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $5.50, for a total transaction of $153,439.00. Following the transaction, the insider now directly owns 199,413 shares of the company’s stock, valued at $1,096,771.50. This represents a 12.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,468 shares of company stock worth $640,422 in the last 90 days. Insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors have recently bought and sold shares of JOBY. Intech Investment Management LLC bought a new stake in shares of Joby Aviation in the third quarter valued at $518,000. Fred Alger Management LLC increased its holdings in Joby Aviation by 89.4% in the 3rd quarter. Fred Alger Management LLC now owns 123,368 shares of the company’s stock worth $621,000 after acquiring an additional 58,229 shares during the last quarter. Caprock Group LLC raised its stake in Joby Aviation by 179.5% in the 3rd quarter. Caprock Group LLC now owns 124,404 shares of the company’s stock valued at $626,000 after acquiring an additional 79,896 shares during the period. Susquehanna Fundamental Investments LLC lifted its holdings in Joby Aviation by 1,018.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after purchasing an additional 616,579 shares during the last quarter. Finally, Holocene Advisors LP boosted its position in Joby Aviation by 91.7% during the third quarter. Holocene Advisors LP now owns 521,327 shares of the company’s stock worth $2,622,000 after purchasing an additional 249,375 shares during the period. Hedge funds and other institutional investors own 52.85% of the company’s stock.

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.