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

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

Analyst Ratings Changes

A number of analysts have issued reports on JOBY shares. HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, December 18th. JPMorgan Chase & Co. downgraded shares of Joby Aviation from a “neutral” rating to an “underweight” rating and boosted their price target 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 stock a “buy” rating in a research note on Tuesday, January 14th. Finally, Canaccord Genuity Group boosted their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.30.

Joby Aviation Price Performance

The business’s 50 day moving average is $8.37 and its 200 day moving average is $6.50. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of -11.81 and a beta of 2.33.

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

Insider Activity at Joby Aviation

In other news, insider Bonny W. Simi sold 31,489 shares of the company’s stock in a transaction dated 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 directly owns 137,097 shares of the company’s stock, valued at approximately $1,142,018.01. This represents a 18.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Didier Papadopoulos sold 6,005 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $7.65, for a total transaction of $45,938.25. Following the completion of the sale, the insider now directly owns 54,776 shares of the company’s stock, valued at $419,036.40. The trade was a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 672,338 shares of company stock valued at $5,864,050 over the last ninety days. Insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Institutional investors have recently added to or reduced their stakes in the business. Bouvel Investment Partners LLC boosted its stake in shares of Joby Aviation by 1.4% during the 4th quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company’s stock worth $1,007,000 after acquiring an additional 1,715 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Joby Aviation by 32.7% during the 4th quarter. Empowered Funds LLC now owns 13,409 shares of the company’s stock worth $109,000 after buying an additional 3,308 shares during the last quarter. Allworth Financial LP raised its stake in shares of 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 last quarter. Tidal Investments LLC increased its holdings in Joby Aviation by 13.7% during the 3rd quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock valued at $147,000 after acquiring an additional 3,522 shares in the last quarter. Finally, Kensington Investment Counsel LLC raised its position in Joby Aviation by 12.0% during the third quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock worth $172,000 after acquiring an additional 3,653 shares during the last quarter. Hedge funds and other institutional investors own 52.85% 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.