Joby Aviation (NYSE:JOBY) Stock Price Down 1% – Should You Sell?

Joby Aviation, Inc. (NYSE:JOBY) was down 1% during mid-day trading on Thursday . The company traded as low as $6.14 and last traded at $6.18. Approximately 4,859,040 shares traded hands during trading, a decline of 22% from the average daily volume of 6,237,207 shares. The stock had previously closed at $6.24.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on JOBY shares. Canaccord Genuity Group reissued a “buy” rating and set a $10.50 price target on shares of Joby Aviation in a report on Friday, October 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th.

Joby Aviation Trading Down 3.2 %

The company’s fifty day simple moving average is $5.31 and its 200-day simple moving average is $5.27.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, meeting analysts’ consensus estimates of ($0.18). The business had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.28 million. During the same quarter last year, the company earned ($0.17) earnings per share. As a group, equities research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Activity

In other news, insider Didier Papadopoulos sold 6,025 shares of the stock in a transaction dated 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 sale, the insider now directly owns 47,474 shares in the company, valued at $253,036.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Didier Papadopoulos sold 6,025 shares of the stock in a transaction dated 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 sale, the insider now directly owns 47,474 shares in the company, valued at $253,036.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kate Dehoff sold 27,898 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $5.50, for a total transaction of $153,439.00. Following the sale, the insider now owns 199,413 shares of the company’s stock, valued at approximately $1,096,771.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 525,499 shares of company stock worth $2,667,151 over the last three months. Insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its position in Joby Aviation by 216.3% during the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after purchasing an additional 5,840 shares during the last quarter. Sound Income Strategies LLC increased its position in Joby Aviation by 3,311.3% during the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock worth $52,000 after purchasing an additional 10,000 shares during the last quarter. Integris Wealth Management LLC acquired a new stake in Joby Aviation during the second quarter worth about $54,000. Dakota Wealth Management purchased a new position in Joby Aviation during the second quarter worth about $56,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Joby Aviation during the second quarter worth about $57,000. 45.54% of the stock is currently 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.