Joby Aviation (NYSE:JOBY) Stock Price Down 1.1% – Should You Sell?

Joby Aviation, Inc. (NYSE:JOBY) was down 1.1% during trading on Thursday . The company traded as low as $8.18 and last traded at $8.24. Approximately 2,593,241 shares traded hands during trading, a decline of 82% from the average daily volume of 14,105,863 shares. The stock had previously closed at $8.33.

Wall Street Analysts Forecast Growth

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

Joby Aviation Stock Down 0.9 %

The company has a market capitalization of $6.32 billion, a P/E ratio of -11.79 and a beta of 2.33. The company has a 50 day simple moving average of $8.34 and a two-hundred day simple moving average of $6.49.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The firm had revenue of $0.28 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the company posted ($0.13) EPS. As a group, research 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, insider Bonny W. Simi sold 31,489 shares of Joby Aviation stock in a transaction on Friday, January 17th. The stock was sold at an average price of $8.33, for a total transaction of $262,303.37. Following the completion of the sale, the insider now directly owns 137,097 shares of the company’s stock, valued at $1,142,018.01. The trade was a 18.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Didier Papadopoulos sold 6,005 shares of the stock in a transaction on 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 directly owns 54,776 shares in the company, valued at $419,036.40. The trade was a 9.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 672,338 shares of company stock worth $5,864,050 in the last quarter. 32.40% of the stock is owned by company insiders.

Institutional Trading of Joby Aviation

A number of hedge funds have recently added to or reduced their stakes in JOBY. State Street Corp raised its holdings in shares of Joby Aviation by 9.5% in the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after purchasing an additional 812,248 shares in the last quarter. Geode Capital Management LLC raised its stake in Joby Aviation by 7.7% in the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after buying an additional 670,852 shares in the last quarter. Rheos Capital Works Inc. lifted its holdings in Joby Aviation by 17.0% during the fourth quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company’s stock worth $19,553,000 after buying an additional 350,000 shares during the period. Holocene Advisors LP boosted its position in Joby Aviation by 91.7% during the 3rd quarter. Holocene Advisors LP now owns 521,327 shares of the company’s stock valued at $2,622,000 after acquiring an additional 249,375 shares in the last quarter. Finally, Yarbrough Capital LLC purchased a new position in shares of Joby Aviation in the 4th quarter valued at $1,362,000. 52.85% of the stock is owned by hedge funds and other 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.