Joby Aviation (NYSE:JOBY) Stock Price Down 2.9%

Joby Aviation, Inc. (NYSE:JOBY)’s share price traded down 2.9% during trading on Monday . The company traded as low as $4.93 and last traded at $4.95. 571,101 shares changed hands during trading, a decline of 89% from the average session volume of 4,976,869 shares. The stock had previously closed at $5.10.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a report on Monday. JPMorgan Chase & Co. raised Joby Aviation from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a report on Friday, May 3rd.

Joby Aviation Price Performance

The stock has a fifty day simple moving average of $5.04 and a 200-day simple moving average of $5.44.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. The company had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.05 million. During the same period in the previous year, the firm posted ($0.16) earnings per share. The company’s revenue was down 97.5% compared to the same quarter last year. Equities research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, insider Eric Allison sold 19,393 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $4.70, for a total value of $91,147.10. Following the completion of the transaction, the insider now directly owns 422,592 shares of the company’s stock, valued at $1,986,182.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Eric Allison sold 19,393 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $4.70, for a total value of $91,147.10. Following the completion of the sale, the insider now directly owns 422,592 shares in the company, valued at $1,986,182.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew Field sold 13,953 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $4.96, for a total value of $69,206.88. Following the completion of the sale, the insider now owns 269,196 shares of the company’s stock, valued at $1,335,212.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,475 shares of company stock valued at $248,636. 32.40% of the stock is owned by company insiders.

Institutional Trading of Joby Aviation

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Joby Aviation by 20.6% during the third quarter. Vanguard Group Inc. now owns 34,130,744 shares of the company’s stock worth $220,143,000 after purchasing an additional 5,819,837 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of Joby Aviation by 10.3% during the fourth quarter. Baillie Gifford & Co. now owns 56,320,441 shares of the company’s stock worth $374,531,000 after purchasing an additional 5,267,436 shares in the last quarter. New York State Common Retirement Fund grew its holdings in Joby Aviation by 8.1% in the 4th quarter. New York State Common Retirement Fund now owns 114,331 shares of the company’s stock valued at $760,000 after buying an additional 8,595 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in Joby Aviation by 596.5% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 160,200 shares of the company’s stock valued at $1,033,000 after buying an additional 137,200 shares in the last quarter. Finally, Rheos Capital Works Inc. grew its holdings in Joby Aviation by 113.0% in the 4th quarter. Rheos Capital Works Inc. now owns 2,055,000 shares of the company’s stock valued at $13,666,000 after buying an additional 1,090,000 shares in the last quarter. 45.54% of the stock is currently owned by hedge funds and other 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.