Joby Aviation (NYSE:JOBY) Shares Down 4.7% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY) was down 4.7% on Wednesday . The stock traded as low as $5.89 and last traded at $6.02. Approximately 7,844,310 shares changed hands during mid-day trading, an increase of 7% from the average daily volume of 7,327,021 shares. The stock had previously closed at $6.32.

Wall Street Analysts Forecast Growth

JOBY has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. Canaccord Genuity Group cut their price target on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a report on Tuesday, October 29th. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, October 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Monday, September 30th.

Joby Aviation Stock Up 0.3 %

The company has a 50 day moving average of $5.39 and a two-hundred day moving average of $5.33.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.06 million. During the same quarter in the previous year, the business earned ($0.13) earnings per share. As a group, analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Activity

In other 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 value of $32,113.25. Following the transaction, the insider now owns 47,474 shares in the company, valued at approximately $253,036.42. This represents a 11.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Matthew Field sold 5,643 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $5.96, for a total transaction of $33,632.28. Following the sale, the insider now directly owns 293,143 shares of the company’s stock, valued at $1,747,132.28. This trade represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 525,499 shares of company stock worth $2,667,151. Insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

A number of institutional investors and hedge funds have recently modified their holdings of the business. Larson Financial Group LLC boosted 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 valued at $37,000 after buying an additional 5,000 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Joby Aviation by 216.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after acquiring an additional 5,840 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Joby Aviation in the third quarter worth approximately $51,000. Sound Income Strategies LLC raised its holdings in shares of Joby Aviation by 3,311.3% during the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Integris Wealth Management LLC bought a new position in Joby Aviation during the second quarter valued at approximately $54,000. 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.