Joby Aviation (NYSE:JOBY) Stock Price Down 1.1%

Joby Aviation, Inc. (NYSE:JOBY) shares traded down 1.1% during mid-day trading on Tuesday . The stock traded as low as $6.13 and last traded at $6.14. 1,193,518 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 5,505,953 shares. The stock had previously closed at $6.21.

Analysts Set New Price Targets

JOBY has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday, July 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th.

Joby Aviation Stock Down 1.3 %

The firm has a market cap of $4.34 billion, a P/E ratio of -8.08 and a beta of 2.00. The stock’s 50-day simple moving average is $5.41 and its 200 day simple moving average is $5.38.

Joby Aviation (NYSE:JOBY) last released its earnings results on Tuesday, May 7th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. The firm had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $0.05 million. The company’s revenue for the quarter was down 97.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.16) EPS. On average, research analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity at Joby Aviation

In other news, insider Didier Papadopoulos sold 23,188 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $4.86, for a total value of $112,693.68. Following the completion of the transaction, the insider now directly owns 54,666 shares in the company, valued at $265,676.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Didier Papadopoulos sold 23,188 shares of Joby Aviation stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.86, for a total transaction of $112,693.68. Following the transaction, the insider now owns 54,666 shares in the company, valued at approximately $265,676.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kate Dehoff sold 5,815 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $6.76, for a total value of $39,309.40. Following the transaction, the insider now owns 199,413 shares of the company’s stock, valued at $1,348,031.88. The disclosure for this sale can be found here. Insiders sold a total of 345,982 shares of company stock worth $1,713,310 in the last quarter. 32.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC bought a new position in shares of Joby Aviation during the 4th quarter valued at about $73,000. Prime Capital Investment Advisors LLC lifted its holdings in shares of Joby Aviation by 18.1% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 20,317 shares of the company’s stock valued at $135,000 after acquiring an additional 3,120 shares during the period. Baillie Gifford & Co. lifted its position in Joby Aviation by 10.3% during the 4th quarter. Baillie Gifford & Co. now owns 56,320,441 shares of the company’s stock worth $374,531,000 after buying an additional 5,267,436 shares in the last quarter. Cookson Peirce & Co. Inc. lifted its stake in shares of Joby Aviation by 3.9% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 150,393 shares of the company’s stock valued at $1,000,000 after purchasing an additional 5,704 shares during the period. Finally, Duality Advisers LP acquired a new stake in Joby Aviation during the 4th quarter worth approximately $1,644,000. Hedge funds and other institutional investors own 45.54% of the company’s stock.

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.