Joby Aviation (NYSE:JOBY) Shares Down 0.2% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY)’s share price was down 0.2% on Wednesday . The stock traded as low as $5.64 and last traded at $5.66. Approximately 2,148,877 shares traded hands during trading, a decline of 65% from the average daily volume of 6,054,298 shares. The stock had previously closed at $5.67.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on JOBY. JPMorgan Chase & Co. raised their target price on Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, October 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 30th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $10.50 price objective on shares of Joby Aviation in a report on Friday, October 4th.

Joby Aviation Stock Down 0.5 %

The firm’s fifty day simple moving average is $5.20 and its 200-day simple moving average is $5.23. The firm has a market capitalization of $4.00 billion, a PE ratio of -7.45 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, hitting analysts’ consensus estimates of ($0.18). The business had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.28 million. During the same period in the previous year, the business posted ($0.17) EPS. As a group, analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Activity

In related news, insider Didier Papadopoulos sold 6,025 shares of Joby Aviation stock in a transaction on Monday, September 16th. The stock was sold at an average price of $5.33, for a total value of $32,113.25. Following the completion of the sale, the insider now owns 47,474 shares of the company’s stock, valued at $253,036.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Joby Aviation news, insider Didier Papadopoulos sold 6,025 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 47,474 shares of the company’s stock, valued at approximately $253,036.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Cahill Sciarra sold 166,666 shares of Joby Aviation stock in a transaction on Monday, September 30th. The stock was sold at an average price of $5.15, for a total transaction of $858,329.90. Following the transaction, the director now owns 59,828,059 shares in the company, valued at $308,114,503.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 488,099 shares of company stock valued at $2,467,109 in the last 90 days. 32.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Joby Aviation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caprock Group LLC bought a new position in Joby Aviation in the 1st quarter worth approximately $239,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Joby Aviation by 215.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,682 shares of the company’s stock valued at $1,965,000 after buying an additional 270,794 shares during the period. Janney Montgomery Scott LLC grew its stake in Joby Aviation by 84.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 202,223 shares of the company’s stock worth $1,084,000 after acquiring an additional 92,508 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Joby Aviation during the first quarter worth approximately $324,000. Finally, ProShare Advisors LLC raised its stake in shares of Joby Aviation by 8.5% during the first quarter. ProShare Advisors LLC now owns 50,103 shares of the company’s stock valued at $269,000 after acquiring an additional 3,942 shares in the last quarter. 45.54% of the stock is 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.