Joby Aviation (NYSE:JOBY) Trading Down 1.9%

Joby Aviation, Inc. (NYSE:JOBY)’s share price traded down 1.9% on Friday . The stock traded as low as $4.73 and last traded at $4.74. 1,786,997 shares were traded during trading, a decline of 68% from the average session volume of 5,519,284 shares. The stock had previously closed at $4.83.

Wall Street Analysts Forecast Growth

JOBY has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a research note on Tuesday. HC Wainwright initiated coverage on Joby Aviation in a report on Tuesday. They set a “buy” rating and a $9.00 target price on the stock. JPMorgan Chase & Co. increased their price target on Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Canaccord Genuity Group cut their price objective on Joby Aviation from $11.00 to $10.50 and set a “buy” rating on the stock in a report on Thursday, August 8th.

Joby Aviation Stock Down 1.7 %

The stock’s fifty day moving average price is $5.51 and its 200-day moving average price is $5.25. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of -6.24 and a beta of 1.98.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.18). The business had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.28 million. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. Analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Transactions at Joby Aviation

In other Joby Aviation news, insider Didier Papadopoulos sold 23,188 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $4.86, for a total value of $112,693.68. Following the transaction, the insider now directly owns 54,666 shares in the company, valued at $265,676.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Didier Papadopoulos sold 23,188 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was 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 in the company, valued at $265,676.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Joeben Bevirt sold 250,000 shares of the company’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 value of $1,215,000.00. Following the completion of the transaction, the chief executive officer now directly owns 32,724,274 shares in the company, valued at approximately $159,039,971.64. The disclosure for this sale can be found here. In the last three months, insiders sold 326,032 shares of company stock worth $1,613,336. 32.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors have recently modified their holdings of JOBY. New York State Common Retirement Fund grew its holdings in shares of Joby Aviation by 8.1% during the 4th quarter. New York State Common Retirement Fund now owns 114,331 shares of the company’s stock worth $760,000 after purchasing an additional 8,595 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Joby Aviation by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,818,603 shares of the company’s stock valued at $25,394,000 after buying an additional 64,404 shares during the period. Private Advisor Group LLC acquired a new position in shares of Joby Aviation in the 4th quarter valued at approximately $77,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Joby Aviation by 215.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,682 shares of the company’s stock worth $1,965,000 after acquiring an additional 270,794 shares during the period. Finally, Apollon Wealth Management LLC acquired a new stake in shares of Joby Aviation during the 4th quarter worth approximately $88,000. Institutional investors own 45.54% 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.