Joby Aviation (NYSE:JOBY) Stock Price Down 0.2% – Should You Sell?

Joby Aviation, Inc. (NYSE:JOBY) shares dropped 0.2% on Thursday . The stock traded as low as $6.10 and last traded at $6.19. Approximately 5,589,192 shares were traded during trading, a decline of 26% from the average daily volume of 7,535,667 shares. The stock had previously closed at $6.20.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on JOBY shares. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th. Needham & Company LLC initiated coverage on shares of Joby Aviation in a research report on Tuesday. They issued a “buy” rating and a $8.00 price objective on the stock. JPMorgan Chase & Co. lowered their price target on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. Canaccord Genuity Group cut their target price on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Finally, HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Joby Aviation currently has an average rating of “Moderate Buy” and a consensus price target of $8.35.

Joby Aviation Price Performance

The firm has a market cap of $5.33 billion, a price-to-earnings ratio of -9.46 and a beta of 1.97. The firm has a 50 day moving average price of $5.48 and a 200-day moving average price of $5.35.

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 firm had revenue of $0.28 million during the quarter, compared to the consensus estimate 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 earned ($0.13) EPS. On average, sell-side analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity at Joby Aviation

In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the sale, the chief executive officer now directly owns 32,674,274 shares of the company’s stock, valued at $158,470,228.90. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Didier Papadopoulos sold 6,025 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $5.33, for a total value of $32,113.25. Following the completion of the sale, the insider now owns 47,474 shares in the company, valued at $253,036.42. The trade was a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 525,499 shares of company stock valued at $2,667,151. Insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

A number of institutional investors and hedge funds have recently made changes to their positions in JOBY. Flaharty Asset Management LLC boosted its stake in shares of Joby Aviation by 25.0% in the 2nd quarter. Flaharty Asset Management LLC now owns 15,000 shares of the company’s stock worth $76,000 after buying an additional 3,000 shares during the last quarter. Kensington Investment Counsel LLC boosted its stake in Joby Aviation by 12.0% in the third quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock valued at $172,000 after acquiring an additional 3,653 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Joby Aviation by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 50,103 shares of the company’s stock worth $269,000 after purchasing an additional 3,942 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Joby Aviation by 46.2% in the 2nd quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock worth $71,000 after purchasing an additional 4,391 shares during the period. Finally, Larson Financial Group LLC grew its holdings in Joby Aviation by 218.3% during the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after purchasing an additional 5,000 shares during the period. 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.