Joby Aviation (NYSE:JOBY) Trading Down 0.8%

Shares of Joby Aviation, Inc. (NYSE:JOBY) dropped 0.8% during trading on Wednesday . The stock traded as low as $5.99 and last traded at $6.04. Approximately 978,703 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 5,505,291 shares. The stock had previously closed at $6.09.

Analyst Ratings Changes

JOBY has been the subject of several recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a research note on Monday, July 22nd. JPMorgan Chase & Co. raised their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th.

Joby Aviation Price Performance

The company has a market cap of $4.24 billion, a price-to-earnings ratio of -7.95 and a beta of 2.00. The business’s 50-day simple moving average is $5.44 and its 200-day simple moving average is $5.39.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. The business had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.05 million. The business’s revenue was down 97.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.16) EPS. As a group, sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Transactions at Joby Aviation

In other news, insider Didier Papadopoulos sold 23,188 shares of Joby Aviation stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $4.86, for a total transaction of $112,693.68. Following the completion of the sale, the insider now directly owns 54,666 shares in the company, valued at $265,676.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Kate Dehoff sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $5.50, for a total value of $68,750.00. Following the completion of the sale, the insider now directly owns 189,163 shares in the company, valued at $1,040,396.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Didier Papadopoulos sold 23,188 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $4.86, for a total transaction of $112,693.68. Following the completion of the sale, the insider now owns 54,666 shares of the company’s stock, valued at $265,676.76. The disclosure for this sale can be found here. Insiders sold a total of 345,982 shares of company stock worth $1,713,310 over the last ninety days. 32.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of JOBY. Nisa Investment Advisors LLC lifted its position in shares of 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 purchasing an additional 5,840 shares in the last quarter. Integris Wealth Management LLC acquired a new position in shares of Joby Aviation during the second quarter worth $54,000. Dakota Wealth Management acquired a new position in shares of Joby Aviation during the second quarter worth $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Joby Aviation during the second quarter worth $57,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Joby Aviation during the fourth quarter worth $73,000. 45.54% of the stock is owned by institutional investors and hedge funds.

About Joby Aviation

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.