Joby Aviation (NYSE:JOBY) Shares Down 0.6% – Time to Sell?

Shares of Joby Aviation, Inc. (NYSE:JOBY) traded down 0.6% during trading on Tuesday . The stock traded as low as $8.16 and last traded at $8.34. 4,320,761 shares changed hands during trading, a decline of 52% from the average session volume of 8,999,138 shares. The stock had previously closed at $8.39.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 30th. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, December 18th. Canaccord Genuity Group lowered their price objective on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Needham & Company LLC began coverage on Joby Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $8.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.35.

Joby Aviation Trading Down 2.5 %

The company has a fifty day simple moving average of $6.97 and a two-hundred day simple moving average of $5.96. The company has a market cap of $6.26 billion, a PE ratio of -11.69 and a beta of 2.32.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The firm had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter in the previous year, the firm posted ($0.13) EPS. On average, research analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity

In related news, insider Didier Papadopoulos sold 6,005 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $7.65, for a total value of $45,938.25. Following the transaction, the insider now owns 54,776 shares in the company, valued at $419,036.40. The trade was a 9.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kate Dehoff sold 27,898 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $5.50, for a total value of $153,439.00. Following the sale, the insider now directly owns 199,413 shares of the company’s stock, valued at approximately $1,096,771.50. This represents a 12.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,065 shares of company stock worth $551,080. Corporate insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

A number of hedge funds have recently added to or reduced their stakes in JOBY. Larson Financial Group LLC boosted its position in shares of Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after purchasing an additional 5,000 shares in the last quarter. Empowered Funds LLC purchased a new stake in Joby Aviation during the third quarter worth about $51,000. Sound Income Strategies LLC grew its position in Joby Aviation by 3,311.3% during the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock worth $52,000 after buying an additional 10,000 shares during the period. International Assets Investment Management LLC increased its holdings in Joby Aviation by 403.0% in the third quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock valued at $58,000 after buying an additional 9,188 shares in the last quarter. Finally, Choreo LLC acquired a new stake in shares of Joby Aviation during the 2nd quarter valued at approximately $60,000. Institutional investors and hedge funds own 52.85% 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.