Joby Aviation (NYSE:JOBY) Stock Price Down 0.7% – Should You Sell?

Shares of Joby Aviation, Inc. (NYSE:JOBY) traded down 0.7% during trading on Thursday . The company traded as low as $7.87 and last traded at $8.07. 4,981,914 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 9,030,108 shares. The stock had previously closed at $8.13.

Analysts Set New Price Targets

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

Joby Aviation Trading Down 2.6 %

The firm’s fifty day moving average price is $7.04 and its 200-day moving average price is $5.99. The company has a market cap of $6.06 billion, a price-to-earnings ratio of -11.31 and a beta of 2.32.

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

Insider Buying and Selling

In other news, insider Didier Papadopoulos sold 6,005 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $7.65, for a total value of $45,938.25. Following the sale, the insider now directly owns 54,776 shares in the company, valued at $419,036.40. The trade was a 9.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gregory Bowles sold 7,748 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $8.08, for a total value of $62,603.84. Following the transaction, the insider now directly owns 29,235 shares of the company’s stock, valued at $236,218.80. This represents a 20.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 89,154 shares of company stock valued at $534,225. 32.40% of the stock is owned by corporate insiders.

Institutional Trading of Joby Aviation

Institutional investors have recently made changes to their positions in the business. Tidal Investments LLC raised its holdings in Joby Aviation by 13.7% during the third quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock worth $147,000 after acquiring an additional 3,522 shares in the last quarter. Kensington Investment Counsel LLC raised its stake in shares of Joby Aviation by 12.0% during the 3rd quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock worth $172,000 after purchasing an additional 3,653 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Joby Aviation by 46.2% in the 2nd quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock valued at $71,000 after buying an additional 4,391 shares during the last quarter. Larson Financial Group LLC increased its holdings in Joby Aviation by 218.3% during the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after buying an additional 5,000 shares during the last quarter. Finally, EP Wealth Advisors LLC raised its position in Joby Aviation by 15.4% during the third quarter. EP Wealth Advisors LLC now owns 37,369 shares of the company’s stock worth $188,000 after acquiring an additional 5,000 shares in the last quarter. 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.