Joby Aviation (NYSE:JOBY) Stock Price Down 0.8% on Insider Selling

Shares of Joby Aviation, Inc. (NYSE:JOBY) fell 0.8% on Wednesday following insider selling activity. The company traded as low as $5.18 and last traded at $5.22. 598,675 shares changed hands during trading, a decline of 89% from the average session volume of 5,475,564 shares. The stock had previously closed at $5.26.

Specifically, insider Didier Papadopoulos sold 6,025 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $5.33, for a total transaction of $32,113.25. Following the transaction, the insider now directly owns 47,474 shares of the company’s stock, valued at $253,036.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 9th. HC Wainwright started coverage on Joby Aviation in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $9.00 price target on the stock. Finally, Canaccord Genuity Group reduced their price objective on Joby Aviation from $11.00 to $10.50 and set a “buy” rating for the company in a research report on Thursday, August 8th.

Joby Aviation Stock Performance

The firm has a market cap of $3.72 billion, a price-to-earnings ratio of -6.84 and a beta of 1.97. The business’s 50-day moving average is $5.53 and its 200-day moving average is $5.22.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, hitting the consensus estimate of ($0.18). The business had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.28 million. During the same quarter in the previous year, the company posted ($0.17) EPS. Equities research analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Flaharty Asset Management LLC boosted its position in Joby Aviation by 25.0% in 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. ProShare Advisors LLC increased its position in Joby Aviation by 8.5% in the first quarter. ProShare Advisors LLC now owns 50,103 shares of the company’s stock worth $269,000 after purchasing an additional 3,942 shares during the period. Amalgamated Bank raised its holdings in Joby Aviation by 46.2% during 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 during the last quarter. Janney Montgomery Scott LLC lifted its position in Joby Aviation by 4.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 109,715 shares of the company’s stock valued at $730,000 after purchasing an additional 4,445 shares during the period. Finally, Cetera Advisors LLC boosted its stake in shares of Joby Aviation by 32.9% in the 1st quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock valued at $109,000 after purchasing an additional 5,025 shares during the last quarter. Institutional investors own 45.54% of the company’s stock.

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.