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

Joby Aviation, Inc. (NYSE:JOBY)’s share price traded down 0.6% during trading on Tuesday . The company traded as low as $8.09 and last traded at $8.18. 2,388,737 shares traded hands during trading, a decline of 84% from the average session volume of 14,928,682 shares. The stock had previously closed at $8.23.

Analyst Ratings Changes

A number of brokerages have recently issued reports on JOBY. Needham & Company LLC lifted their price target on Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Canaccord Genuity Group lifted their target price on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, December 18th. JPMorgan Chase & Co. cut shares of Joby Aviation from a “neutral” rating to an “underweight” rating and upped their price objective for the company from $5.00 to $6.00 in a research note on Friday, January 10th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.30.

Joby Aviation Trading Up 2.1 %

The firm’s fifty day simple moving average is $8.25 and its two-hundred day simple moving average is $6.46. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of -12.01 and a beta of 2.33.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The business had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same quarter in the prior year, the company posted ($0.13) earnings per share. As a group, analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Didier Papadopoulos sold 6,005 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $7.65, for a total transaction of $45,938.25. Following the completion of the transaction, the insider now owns 54,776 shares of the company’s stock, valued at approximately $419,036.40. This trade represents a 9.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul Cahill Sciarra sold 333,332 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $8.00, for a total value of $2,666,656.00. Following the completion of the sale, the director now directly owns 58,994,729 shares in the company, valued at approximately $471,957,832. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 672,338 shares of company stock valued at $5,864,050. 32.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors have recently bought and sold shares of the company. Salem Investment Counselors Inc. boosted its holdings in Joby Aviation by 5,000.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock valued at $41,000 after purchasing an additional 5,000 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of Joby Aviation in the 4th quarter valued at about $42,000. Larson Financial Group LLC grew 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 worth $37,000 after buying an additional 5,000 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Joby Aviation during the third quarter worth approximately $51,000. Finally, Sound Income Strategies LLC raised its holdings in Joby Aviation by 3,311.3% in the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after acquiring an additional 10,000 shares in the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

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.