Joby Aviation (NYSE:JOBY) Shares Down 3.1% – Time to Sell?

Shares of Joby Aviation, Inc. (NYSE:JOBYGet Free Report) fell 3.1% during mid-day trading on Friday . The company traded as low as $8.61 and last traded at $8.88. 7,720,354 shares traded hands during trading, a decline of 14% from the average session volume of 8,963,333 shares. The stock had previously closed at $9.16.

Wall Street Analyst Weigh In

Several equities analysts recently commented on JOBY shares. Canaccord Genuity Group cut their target price on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a research note on Monday, September 30th. Needham & Company LLC initiated coverage on Joby Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $8.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday, October 29th. Finally, HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $8.35.

Read Our Latest Stock Report on Joby Aviation

Joby Aviation Trading Down 2.5 %

The company has a 50 day moving average of $6.91 and a 200 day moving average of $5.93. The firm has a market cap of $6.83 billion, a price-to-earnings ratio of -12.76 and a beta of 2.32.

Joby Aviation (NYSE:JOBYGet Free Report) last announced its earnings results 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 for the quarter, compared to analyst estimates of $0.06 million. During the same quarter last year, the business earned ($0.13) EPS. As a group, sell-side analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Transactions at Joby Aviation

In other Joby Aviation news, Director Paul Cahill Sciarra sold 166,666 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $5.15, for a total transaction of $858,329.90. Following the sale, the director now owns 59,828,059 shares of the company’s stock, valued at $308,114,503.85. This represents a 0.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joeben Bevirt sold 250,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the completion of the transaction, the chief executive officer now directly owns 32,674,274 shares of the company’s stock, valued at approximately $158,470,228.90. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 508,731 shares of company stock valued at $2,621,909 in the last three months. 32.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of JOBY. Larson Financial Group LLC raised its position in shares of Joby Aviation by 218.3% during the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after acquiring an additional 5,000 shares during the last quarter. Empowered Funds LLC acquired a new stake in Joby Aviation in the third quarter worth about $51,000. Sound Income Strategies LLC raised its holdings in Joby Aviation by 3,311.3% during the 3rd 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. International Assets Investment Management LLC lifted its position in Joby Aviation by 403.0% during the 3rd quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock valued at $58,000 after purchasing an additional 9,188 shares during the period. Finally, Choreo LLC bought a new position in shares of Joby Aviation in the 2nd quarter valued at about $60,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

About Joby Aviation

(Get Free Report)

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.

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