Joby Aviation (NYSE:JOBY) Stock Price Down 1.3% – Time to Sell?

Shares of Joby Aviation, Inc. (NYSE:JOBY) dropped 1.3% during trading on Monday . The company traded as low as $7.40 and last traded at $7.68. Approximately 9,369,040 shares traded hands during trading, an increase of 10% from the average daily volume of 8,517,233 shares. The stock had previously closed at $7.78.

Analyst Ratings Changes

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

Joby Aviation Stock Up 3.3 %

The company has a market capitalization of $6.30 billion, a PE ratio of -11.77 and a beta of 2.32. The company’s 50 day moving average is $6.50 and its two-hundred day moving average is $5.76.

Joby Aviation (NYSE:JOBY) last issued 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 net margin of 42,844.57% and a negative return on equity of 51.76%. The company had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. During the same quarter last year, the company earned ($0.13) earnings per share. Analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Activity at Joby Aviation

In other news, insider Didier Papadopoulos sold 6,005 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $7.65, for a total transaction of $45,938.25. Following the completion of the sale, the insider now owns 54,776 shares in the company, valued at approximately $419,036.40. This represents a 9.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul Cahill Sciarra sold 166,666 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $5.15, for a total transaction of $858,329.90. Following the completion of the transaction, the director now directly owns 59,828,059 shares of the company’s stock, valued at $308,114,503.85. The trade was a 0.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 535,506 shares of company stock worth $2,759,533. Company insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently bought and sold shares of the business. Flaharty Asset Management LLC raised its stake in shares of Joby Aviation by 25.0% during the 2nd quarter. Flaharty Asset Management LLC now owns 15,000 shares of the company’s stock valued at $76,000 after buying an additional 3,000 shares during the last quarter. Tidal Investments LLC grew 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 during the period. Kensington Investment Counsel LLC raised its position in Joby Aviation by 12.0% during the third quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock valued at $172,000 after acquiring an additional 3,653 shares in the last quarter. Amalgamated Bank boosted its position in Joby Aviation by 46.2% in the 2nd quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock worth $71,000 after purchasing an additional 4,391 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in 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 in the last quarter. Institutional investors and hedge funds own 52.85% 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.