Joby Aviation (NYSE:JOBY) Stock Price Down 1.9%

Joby Aviation, Inc. (NYSE:JOBY) fell 1.9% during mid-day trading on Wednesday . The stock traded as low as $5.05 and last traded at $5.05. 1,401,291 shares changed hands during trading, a decline of 75% from the average session volume of 5,502,166 shares. The stock had previously closed at $5.15.

Analyst Upgrades and Downgrades

JOBY has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Canaccord Genuity Group decreased their price target on shares of Joby Aviation from $11.00 to $10.50 and set a “buy” rating on the stock in a research note on Thursday, August 8th. HC Wainwright initiated coverage on shares of Joby Aviation in a report on Tuesday, September 3rd. They issued a “buy” rating and a $9.00 price target for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a report on Monday.

Joby Aviation Stock Performance

The business’s 50-day simple moving average is $5.51 and its 200-day simple moving average is $5.23. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of -6.64 and a beta of 1.98.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting 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) earnings per share. On average, analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Transactions at Joby Aviation

In other news, insider Kate Dehoff sold 5,815 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $6.76, for a total transaction of $39,309.40. Following the completion of the transaction, the insider now directly owns 199,413 shares in the company, valued at approximately $1,348,031.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Joby Aviation news, insider Kate Dehoff sold 5,815 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $6.76, for a total value of $39,309.40. Following the sale, the insider now directly owns 199,413 shares in the company, valued at $1,348,031.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Didier Papadopoulos sold 7,262 shares of Joby Aviation stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $5.15, for a total transaction of $37,399.30. Following the transaction, the insider now directly owns 65,561 shares in the company, valued at $337,639.15. The disclosure for this sale can be found here. Insiders have sold 326,032 shares of company stock worth $1,613,336 in the last three months. Insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Large investors have recently modified their holdings of the business. Nisa Investment Advisors LLC grew its position in shares of Joby Aviation by 216.3% in the 2nd 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 bought a new position in Joby Aviation in the second quarter valued at approximately $54,000. Dakota Wealth Management acquired a new position in shares of Joby Aviation in the second quarter valued at approximately $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Joby Aviation during the second quarter worth $57,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Joby Aviation during the fourth quarter worth $77,000. 45.54% of the stock is currently owned by 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.