Joby Aviation (NYSE:JOBY) Trading Down 2.5% – Time to Sell?

Joby Aviation, Inc. (NYSE:JOBY) shares were down 2.5% on Monday . The stock traded as low as $5.51 and last traded at $5.55. 1,949,625 shares traded hands during trading, a decline of 68% from the average session volume of 6,053,329 shares. The stock had previously closed at $5.69.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on JOBY. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. increased their price objective on Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Canaccord Genuity Group reissued a “buy” rating and issued a $10.50 target price on shares of Joby Aviation in a research report on Friday, October 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a report on Monday, September 30th.

Joby Aviation Trading Up 2.6 %

The firm has a market cap of $3.94 billion, a PE ratio of -7.30 and a beta of 1.97. The company’s 50 day moving average price is $5.22 and its two-hundred day moving average price is $5.24.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.18). The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.28 million. During the same period in the prior year, the firm posted ($0.17) EPS. Equities research analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Joby Aviation news, insider Eric Allison sold 27,817 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $5.56, for a total value of $154,662.52. Following the completion of the transaction, the insider now directly owns 463,151 shares in the company, valued at $2,575,119.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Eric Allison sold 27,817 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $5.56, for a total value of $154,662.52. Following the transaction, the insider now directly owns 463,151 shares in the company, valued at $2,575,119.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew Field sold 5,643 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $5.96, for a total value of $33,632.28. Following the sale, the insider now owns 293,143 shares of the company’s stock, valued at $1,747,132.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 497,601 shares of company stock worth $2,513,712. Company insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Several large investors have recently made changes to their positions in JOBY. Nisa Investment Advisors LLC increased its stake in Joby Aviation by 216.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after acquiring an additional 5,840 shares during the last quarter. Sound Income Strategies LLC increased its position 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 worth $52,000 after purchasing an additional 10,000 shares during the last quarter. Integris Wealth Management LLC bought a new position in Joby Aviation during the second quarter valued at $54,000. Dakota Wealth Management purchased a new position in shares of Joby Aviation in the 2nd quarter worth $56,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Joby Aviation in the 2nd quarter worth about $57,000. 45.54% of the stock is owned by institutional investors.

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.