Joby Aviation (NYSE:JOBY) Trading Down 1.5% – Should You Sell?

Joby Aviation, Inc. (NYSE:JOBY)’s share price was down 1.5% on Thursday . The company traded as low as $6.32 and last traded at $6.39. Approximately 2,603,620 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 10,590,256 shares. The stock had previously closed at $6.49.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $9.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. JPMorgan Chase & Co. lowered their target price on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. Canaccord Genuity Group lifted their price target on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, HC Wainwright reiterated a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $8.90.

Joby Aviation Stock Performance

The company has a fifty day simple moving average of $7.41 and a 200 day simple moving average of $6.86. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of -9.51 and a beta of 2.35.

Insider Transactions at Joby Aviation

In other news, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $9.84, for a total transaction of $2,460,000.00. Following the completion of the sale, the chief executive officer now directly owns 32,325,793 shares in the company, valued at $318,085,803.12. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul Cahill Sciarra sold 333,332 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $8.00, for a total transaction of $2,666,656.00. Following the completion of the transaction, the director now owns 58,994,729 shares in the company, valued at approximately $471,957,832. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,015,470 shares of company stock worth $8,600,479 over the last ninety days. 32.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Joby Aviation

Large investors have recently added to or reduced their stakes in the business. 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 valued at $37,000 after buying an additional 5,000 shares during the period. Whittier Trust Co. bought a new stake in shares of Joby Aviation in the 4th quarter valued at $38,000. Salem Investment Counselors Inc. lifted its position in shares of Joby Aviation by 5,000.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock valued at $41,000 after acquiring an additional 5,000 shares during the period. Compagnie Lombard Odier SCmA bought a new position in Joby Aviation during the fourth quarter worth $41,000. Finally, Toronto Dominion Bank acquired a new stake in Joby Aviation in the fourth quarter worth $41,000. Institutional investors and hedge funds 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.