Joby Aviation (NYSE:JOBY) Stock Price Down 1.3% – Time to Sell?

Shares of Joby Aviation, Inc. (NYSE:JOBY) dropped 1.3% during trading on Friday . The company traded as low as $7.33 and last traded at $7.37. Approximately 2,717,092 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 13,050,564 shares. The stock had previously closed at $7.47.

Analyst Upgrades and Downgrades

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

Joby Aviation Trading Down 6.6 %

The firm has a market capitalization of $5.34 billion, a PE ratio of -9.96 and a beta of 2.33. The business has a fifty day moving average price of $8.25 and a two-hundred day moving average price of $6.66.

Insiders Place Their Bets

In other Joby Aviation news, insider Kate Dehoff sold 6,903 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $7.43, for a total value of $51,289.29. Following the completion of the transaction, the insider now owns 202,276 shares of the company’s stock, valued at $1,502,910.68. This trade represents a 3.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Joeben Bevirt sold 23,886 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $8.08, for a total value of $192,998.88. Following the sale, the chief executive officer now directly owns 768,293 shares in the company, valued at $6,207,807.44. This represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,023,005 shares of company stock valued at $8,667,288 over the last 90 days. 32.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Joby Aviation

A number of institutional investors and hedge funds have recently made changes to their positions in JOBY. Larson Financial Group LLC lifted its stake in Joby Aviation by 218.3% in the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after acquiring an additional 5,000 shares during the last quarter. Whittier Trust Co. acquired a new position in shares of Joby Aviation during the fourth quarter worth $38,000. Salem Investment Counselors Inc. increased its holdings in Joby Aviation by 5,000.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock valued at $41,000 after buying an additional 5,000 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in Joby Aviation during the 4th quarter worth about $41,000. Finally, Toronto Dominion Bank acquired a new position in shares of Joby Aviation during the 4th quarter worth about $41,000. 52.85% of the stock is owned by institutional investors and hedge funds.

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.