Joby Aviation (NYSE:JOBY) Price Target Lowered to $5.00 at JPMorgan Chase & Co.

Joby Aviation (NYSE:JOBY) had its price objective decreased by JPMorgan Chase & Co. from $6.00 to $5.00 in a research note published on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

Several other research analysts also recently weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, December 18th. Canaccord Genuity Group raised their price objective on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of Joby Aviation in a research note on Thursday. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Joby Aviation currently has an average rating of “Moderate Buy” and a consensus price target of $8.90.

Joby Aviation Stock Performance

Shares of NYSE:JOBY opened at $6.77 on Thursday. Joby Aviation has a one year low of $4.50 and a one year high of $10.72. The stock has a market cap of $5.18 billion, a PE ratio of -9.66 and a beta of 2.33. The business’s fifty day moving average price is $8.16 and its two-hundred day moving average price is $6.71.

Insiders Place Their Bets

In other news, insider Bonny W. Simi sold 31,489 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $8.33, for a total value of $262,303.37. Following the completion of the sale, the insider now owns 137,097 shares of the company’s stock, valued at $1,142,018.01. This represents a 18.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kate Dehoff sold 6,903 shares of Joby Aviation stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $7.43, for a total transaction of $51,289.29. Following the transaction, the insider now owns 202,276 shares in the company, valued at $1,502,910.68. The trade was a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,018,699 shares of company stock worth $8,628,124 over the last three months. 32.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Joby Aviation

Several hedge funds and other institutional investors have recently bought and sold shares of JOBY. Whittier Trust Co. acquired a new position in shares of Joby Aviation during the fourth quarter worth $38,000. Allworth Financial LP increased its stake in Joby Aviation by 200.6% during the 4th quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock worth $44,000 after buying an additional 3,320 shares during the period. Compagnie Lombard Odier SCmA acquired a new position in Joby Aviation in the 4th quarter worth $41,000. Toronto Dominion Bank purchased a new position in Joby Aviation in the 4th quarter valued at about $41,000. Finally, Carolinas Wealth Consulting LLC purchased a new position in Joby Aviation in the 4th quarter valued at 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.