Joby Aviation (NYSE:JOBY) Shares Down 3.8% – Time to Sell?

Joby Aviation, Inc. (NYSE:JOBY) was down 3.8% during trading on Tuesday . The stock traded as low as $7.67 and last traded at $7.89. Approximately 9,985,820 shares changed hands during mid-day trading, an increase of 27% from the average daily volume of 7,878,116 shares. The stock had previously closed at $8.20.

Analyst Upgrades and Downgrades

JOBY has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their price target on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday, October 29th. Needham & Company LLC assumed coverage on shares of Joby Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $8.00 target price for the company. Canaccord Genuity Group cut their price target on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, October 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a report on Monday, September 30th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $8.35.

Joby Aviation Stock Performance

The company has a market capitalization of $6.05 billion, a P/E ratio of -11.27 and a beta of 1.97. The stock’s fifty day moving average price is $5.60 and its 200-day moving average price is $5.40.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $0.06 million. During the same quarter in the prior year, the company earned ($0.13) EPS. On average, research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In other news, insider Didier Papadopoulos sold 6,025 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $5.33, for a total transaction of $32,113.25. Following the transaction, the insider now owns 47,474 shares in the company, valued at approximately $253,036.42. This trade represents a 11.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gregory Bowles sold 26,775 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $5.14, for a total value of $137,623.50. Following the completion of the sale, the insider now owns 18,035 shares of the company’s stock, valued at $92,699.90. This trade represents a 59.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 527,778 shares of company stock valued at $2,683,104 in the last quarter. 32.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Larson Financial Group LLC grew its holdings in shares of Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after purchasing an additional 5,000 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Joby Aviation by 216.3% during the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after buying an additional 5,840 shares in the last quarter. Empowered Funds LLC bought a new position in Joby Aviation in the 3rd quarter valued at about $51,000. Sound Income Strategies LLC raised its position in shares of Joby Aviation by 3,311.3% in the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after buying an additional 10,000 shares in the last quarter. Finally, Integris Wealth Management LLC bought a new stake in shares of Joby Aviation during the 2nd quarter worth approximately $54,000. Institutional investors and hedge funds own 45.54% of the company’s stock.

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.