Joby Aviation (NYSE:JOBY) Stock Price Down 3.8% – Time to Sell?

Joby Aviation, Inc. (NYSE:JOBY)’s share price traded down 3.8% during mid-day trading on Monday . The stock traded as low as $5.42 and last traded at $5.51. 4,348,109 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 7,417,691 shares. The stock had previously closed at $5.73.

Analysts Set New Price Targets

Several analysts have commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a research note on Monday, September 30th. JPMorgan Chase & Co. lowered their target price 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. HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, October 2nd. Finally, Canaccord Genuity Group dropped their target price on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a report on Tuesday, October 29th.

Joby Aviation Price Performance

The stock has a market cap of $4.08 billion, a P/E ratio of -7.87 and a beta of 1.97. The stock’s 50-day moving average is $5.43 and its two-hundred day moving average is $5.34.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data 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). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The firm had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.06 million. During the same period in the previous year, the firm earned ($0.13) EPS. On average, analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In related news, insider Gregory Bowles sold 26,775 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $5.14, for a total value of $137,623.50. Following the transaction, the insider now owns 18,035 shares of the company’s stock, valued at $92,699.90. This trade represents a 59.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Didier Papadopoulos sold 6,025 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $5.33, for a total value of $32,113.25. Following the transaction, the insider now owns 47,474 shares in the company, valued at $253,036.42. The trade was a 11.26 % 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. Insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC lifted its position in shares of Joby Aviation by 218.3% in the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after purchasing an additional 5,000 shares during the period. Nisa Investment Advisors LLC lifted its holdings 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 buying an additional 5,840 shares during the period. Empowered Funds LLC bought a new stake in Joby Aviation during the 3rd quarter valued at $51,000. Sound Income Strategies LLC increased its holdings in shares of Joby Aviation by 3,311.3% in the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after acquiring an additional 10,000 shares during the period. Finally, Integris Wealth Management LLC bought a new position in shares of Joby Aviation in the 2nd quarter worth $54,000. 45.54% of the stock is currently owned by institutional investors.

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.