Joby Aviation (NYSE:JOBY) Trading Down 0.5% – Time to Sell?

Joby Aviation, Inc. (NYSE:JOBY)’s share price was down 0.5% during trading on Tuesday . The stock traded as low as $5.95 and last traded at $6.24. Approximately 9,875,567 shares were traded during mid-day trading, an increase of 36% from the average daily volume of 7,253,255 shares. The stock had previously closed at $6.27.

Wall Street Analyst Weigh In

JOBY has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price objective on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a research note on Monday, September 30th. Canaccord Genuity Group dropped their price objective on Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Finally, HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, October 2nd.

Joby Aviation Stock Up 0.7 %

The stock has a 50 day moving average price of $5.34 and a 200 day moving average price of $5.32. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of -8.91 and a beta of 1.97.

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

Insiders Place Their Bets

In other news, insider Didier Papadopoulos sold 6,025 shares of the firm’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 transaction of $32,113.25. Following the completion of the sale, the insider now owns 47,474 shares of the company’s stock, valued at $253,036.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Gregory Bowles sold 26,775 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $5.14, for a total transaction of $137,623.50. Following the completion of the sale, the insider now directly owns 18,035 shares of the company’s stock, valued at $92,699.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Didier Papadopoulos sold 6,025 shares of Joby Aviation stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $5.33, for a total value of $32,113.25. Following the transaction, the insider now owns 47,474 shares of the company’s stock, valued at $253,036.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 525,499 shares of company stock worth $2,667,151. Company insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC bought a new stake in Joby Aviation during the 3rd quarter valued at $518,000. Caprock Group LLC lifted its holdings in shares of Joby Aviation by 179.5% in the 3rd quarter. Caprock Group LLC now owns 124,404 shares of the company’s stock worth $626,000 after acquiring an additional 79,896 shares during the last quarter. Empowered Funds LLC purchased a new stake in Joby Aviation during the third quarter valued at about $51,000. Bouvel Investment Partners LLC bought a new position in Joby Aviation during the 3rd quarter worth approximately $614,000. Finally, Janney Montgomery Scott LLC increased its stake in shares of Joby Aviation by 15.0% in the third quarter. Janney Montgomery Scott LLC now owns 266,882 shares of the company’s stock worth $1,342,000 after buying an additional 34,866 shares during the period. 45.54% of the stock is owned by hedge funds and other institutional investors.

Joby Aviation Company Profile

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.