Joby Aviation (NYSE:JOBY) Stock Price Down 1.4%

Joby Aviation, Inc. (NYSE:JOBY)’s share price traded down 1.4% on Tuesday . The company traded as low as $4.86 and last traded at $4.92. 1,008,993 shares traded hands during trading, a decline of 82% from the average session volume of 5,509,766 shares. The stock had previously closed at $4.99.

Analyst Ratings Changes

JOBY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Monday. HC Wainwright initiated coverage on Joby Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $9.00 price objective for the company. Finally, Canaccord Genuity Group dropped their target price on Joby Aviation from $11.00 to $10.50 and set a “buy” rating on the stock in a research report on Thursday, August 8th.

Joby Aviation Stock Performance

The stock has a market cap of $3.82 billion, a P/E ratio of -7.02 and a beta of 1.98. The business’s 50-day moving average price is $5.52 and its 200-day moving average price is $5.23.

Joby Aviation (NYSE:JOBY) last released 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 company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.28 million. During the same period in the prior year, the firm posted ($0.17) EPS. As a group, equities research analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Kate Dehoff sold 12,500 shares of the company’s stock in a transaction 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 transaction, the insider now owns 189,163 shares of the company’s stock, valued at approximately $1,040,396.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $5.50, for a total value of $68,750.00. Following the transaction, the insider now directly owns 189,163 shares of the company’s stock, valued at approximately $1,040,396.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Matthew Field sold 5,642 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $5.19, for a total value of $29,281.98. Following the completion of the transaction, the insider now owns 294,238 shares of the company’s stock, valued at $1,527,095.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 326,032 shares of company stock worth $1,613,336. Company insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

A number of institutional investors and hedge funds have recently bought and sold shares of JOBY. Victory Capital Management Inc. grew its holdings in Joby Aviation by 25.2% during the 4th quarter. Victory Capital Management Inc. now owns 51,534 shares of the company’s stock valued at $343,000 after buying an additional 10,367 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Joby Aviation in the fourth quarter valued at $77,000. Apollon Wealth Management LLC bought a new stake in Joby Aviation in the fourth quarter worth $88,000. Charles Schwab Investment Management Inc. raised its stake in Joby Aviation by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,818,603 shares of the company’s stock valued at $25,394,000 after purchasing an additional 64,404 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Joby Aviation in the 4th quarter worth $86,000. 45.54% of the stock is currently owned by institutional investors.

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.