Joby Aviation (NYSE:JOBY) Price Target Lowered to $5.00 at JPMorgan Chase & Co.

Joby Aviation (NYSE:JOBY) had its target price cut by JPMorgan Chase & Co. from $6.00 to $5.00 in a report released on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also weighed in on JOBY. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research note on Monday, September 30th. Canaccord Genuity Group dropped their price target on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research report on Tuesday. Finally, HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Wednesday, October 2nd.

Joby Aviation Stock Down 3.8 %

NYSE:JOBY opened at $4.80 on Tuesday. Joby Aviation has a 52 week low of $4.50 and a 52 week high of $7.69. The business’s 50 day moving average is $5.31 and its two-hundred day moving average is $5.28.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data 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 analyst estimates of $0.28 million. During the same period in the prior year, the firm earned ($0.17) EPS. As a group, equities analysts expect that Joby Aviation will post -0.69 EPS for the current year.

Insiders Place Their Bets

In other news, insider Matthew Field sold 5,643 shares of Joby Aviation stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $5.96, for a total transaction of $33,632.28. Following the sale, the insider now owns 293,143 shares of the company’s stock, valued at approximately $1,747,132.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total value of $1,212,500.00. Following the completion of the sale, the chief executive officer now owns 32,674,274 shares of the company’s stock, valued at $158,470,228.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Matthew Field sold 5,643 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $5.96, for a total transaction of $33,632.28. Following the transaction, the insider now directly owns 293,143 shares in the company, valued at approximately $1,747,132.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 525,499 shares of company stock worth $2,667,151. Insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC lifted its position in Joby Aviation by 1,018.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock worth $3,453,000 after purchasing an additional 616,579 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Joby Aviation by 215.1% during the first 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 in the last quarter. Rhumbline Advisers grew its holdings in Joby Aviation by 26.7% during the second quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock worth $2,798,000 after acquiring an additional 115,483 shares during the period. Vanguard Group Inc. raised its position in Joby Aviation by 9.1% in the first quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after acquiring an additional 2,889,012 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in Joby Aviation by 84.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 202,223 shares of the company’s stock valued at $1,084,000 after acquiring an additional 92,508 shares during the last quarter. 45.54% of the stock is currently owned by institutional investors.

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.