Joby Aviation (NYSE:JOBY) Shares Down 2.8%

Joby Aviation, Inc. (NYSE:JOBY) traded down 2.8% during trading on Monday . The company traded as low as $5.28 and last traded at $5.28. 884,703 shares were traded during mid-day trading, a decline of 84% from the average session volume of 5,493,238 shares. The stock had previously closed at $5.43.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 9th. HC Wainwright began coverage on Joby Aviation in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $9.00 price objective on the stock. Finally, Canaccord Genuity Group decreased their target price 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 Down 1.1 %

The stock has a market capitalization of $3.72 billion, a P/E ratio of -6.87 and a beta of 1.97. The stock’s 50 day moving average price is $5.53 and its 200-day moving average price is $5.22.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.18). The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.28 million. During the same period last year, the business posted ($0.17) EPS. Analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Didier Papadopoulos sold 23,188 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $4.86, for a total transaction of $112,693.68. Following the completion of the transaction, the insider now owns 54,666 shares in the company, valued at approximately $265,676.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Joby Aviation news, insider Kate Dehoff sold 5,815 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $6.76, for a total transaction of $39,309.40. Following the sale, the insider now owns 199,413 shares of the company’s stock, valued at approximately $1,348,031.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Didier Papadopoulos sold 23,188 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.86, for a total transaction of $112,693.68. Following the completion of the transaction, the insider now directly owns 54,666 shares of the company’s stock, valued at approximately $265,676.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 327,840 shares of company stock worth $1,624,660. 32.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in shares of Joby Aviation by 216.3% in the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after purchasing an additional 5,840 shares during the period. Integris Wealth Management LLC acquired a new position in Joby Aviation in the 2nd quarter worth approximately $54,000. Dakota Wealth Management purchased a new position in Joby Aviation during the 2nd quarter worth approximately $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Joby Aviation during the 2nd quarter valued at approximately $57,000. Finally, Choreo LLC purchased a new stake in shares of Joby Aviation in the 2nd quarter valued at $60,000. Hedge funds and other institutional investors own 45.54% 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.