Joby Aviation (NYSE:JOBY) Shares Down 2.8%

Joby Aviation, Inc. (NYSE:JOBY)’s share price fell 2.8% during mid-day trading on Monday . The stock traded as low as $5.28 and last traded at $5.28. 884,703 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 5,493,238 shares. The stock had previously closed at $5.43.

Analysts Set New Price Targets

Several equities research analysts recently commented on JOBY shares. Canaccord Genuity Group cut their price target on shares of Joby Aviation from $11.00 to $10.50 and set a “buy” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their target price on Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a research note on Monday, September 9th. Finally, HC Wainwright assumed coverage on Joby Aviation in a report on Tuesday, September 3rd. They set a “buy” rating and a $9.00 price target for the company.

Joby Aviation Price Performance

The stock has a 50 day moving average of $5.53 and a two-hundred day moving average of $5.22. The stock has a market capitalization of $3.82 billion, a PE ratio of -6.95 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.18). The company had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.28 million. During the same period last year, the company earned ($0.17) earnings per share. As a group, research analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity

In other Joby Aviation news, insider Matthew Field sold 11,766 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $5.17, for a total value of $60,830.22. Following the sale, the insider now owns 299,880 shares of the company’s stock, valued at $1,550,379.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Joby Aviation news, insider Kate Dehoff sold 5,815 shares of Joby Aviation stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $6.76, for a total transaction of $39,309.40. Following the transaction, the insider now directly owns 199,413 shares of the company’s stock, valued at $1,348,031.88. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Matthew Field sold 11,766 shares of Joby Aviation stock in a transaction on Friday, July 5th. The stock was sold at an average price of $5.17, for a total transaction of $60,830.22. Following the sale, the insider now directly owns 299,880 shares in the company, valued at approximately $1,550,379.60. The disclosure for this sale can be found here. In the last three months, insiders sold 321,815 shares of company stock worth $1,592,547. Company insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its position in Joby Aviation by 216.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after purchasing an additional 5,840 shares during the period. Integris Wealth Management LLC acquired a new position in shares of Joby Aviation during the second quarter valued at $54,000. Dakota Wealth Management bought a new position in shares of Joby Aviation during the second quarter worth about $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Joby Aviation in the 2nd quarter worth about $57,000. Finally, Private Advisor Group LLC bought a new stake in Joby Aviation in the 4th quarter valued at about $77,000. 45.54% of the stock is currently owned by institutional investors.

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.