Joby Aviation (NYSE:JOBY) Trading Down 0.2% – Here’s What Happened

Shares of Joby Aviation, Inc. (NYSE:JOBY) traded down 0.2% during trading on Thursday . The stock traded as low as $6.10 and last traded at $6.19. 5,589,192 shares were traded during trading, a decline of 26% from the average session volume of 7,535,667 shares. The stock had previously closed at $6.20.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Needham & Company LLC initiated coverage on Joby Aviation in a research report on Tuesday. They set a “buy” rating and a $8.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, October 2nd. Canaccord Genuity Group decreased their price objective on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. lowered their target price on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.35.

Joby Aviation Trading Up 12.4 %

The stock has a fifty day simple moving average of $5.48 and a 200-day simple moving average of $5.35. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of -9.46 and a beta of 1.97.

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

Insider Buying and Selling at Joby Aviation

In related news, insider Didier Papadopoulos sold 6,025 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $5.33, for a total value of $32,113.25. Following the completion of the transaction, the insider now directly owns 47,474 shares in the company, valued at approximately $253,036.42. The trade was a 11.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gregory Bowles sold 26,775 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $5.14, for a total transaction of $137,623.50. Following the sale, the insider now owns 18,035 shares of the company’s stock, valued at approximately $92,699.90. This represents a 59.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 525,499 shares of company stock worth $2,667,151 over the last quarter. Corporate insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Joby Aviation by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after purchasing an additional 2,889,012 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Joby Aviation by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after purchasing an additional 670,852 shares during the last quarter. State Street Corp grew its stake in shares of Joby Aviation by 9.5% in the third quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after buying an additional 812,248 shares in the last quarter. Ieq Capital LLC lifted its holdings in Joby Aviation by 68.6% during the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after buying an additional 1,807,054 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Joby Aviation by 41.8% during the second quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock worth $7,521,000 after buying an additional 435,069 shares during the period. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Joby Aviation Company Profile

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.