Joby Aviation (NYSE:JOBY) Stock Price Down 1.6% – Time to Sell?

Shares of Joby Aviation, Inc. (NYSE:JOBY) were down 1.6% during mid-day trading on Tuesday . The stock traded as low as $4.94 and last traded at $4.96. Approximately 3,103,564 shares traded hands during trading, a decline of 55% from the average daily volume of 6,919,893 shares. The stock had previously closed at $5.04.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on JOBY shares. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 30th. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, October 2nd. Canaccord Genuity Group decreased their target price on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. cut their price target on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th.

Joby Aviation Stock Performance

The company has a 50 day simple moving average of $5.31 and a 200 day simple moving average of $5.30. The company has a market capitalization of $3.63 billion, a PE ratio of -10.36 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, hitting the consensus estimate of ($0.18). The firm had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.28 million. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. As a group, equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insiders Place Their Bets

In other news, insider Didier Papadopoulos sold 6,025 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $5.33, for a total value of $32,113.25. Following the completion of the sale, the insider now directly owns 47,474 shares in the company, valued at $253,036.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Didier Papadopoulos sold 6,025 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $5.33, for a total value of $32,113.25. Following the completion of the sale, the insider now directly owns 47,474 shares in the company, valued at $253,036.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gregory Bowles sold 26,775 shares of Joby Aviation stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $5.14, for a total value of $137,623.50. Following the transaction, the insider now owns 18,035 shares in the company, valued at approximately $92,699.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 525,499 shares of company stock valued at $2,667,151 in the last 90 days. 32.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Joby Aviation

A number of hedge funds have recently modified their holdings of JOBY. Vanguard Group Inc. grew its position in Joby Aviation by 9.1% in the first quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after acquiring an additional 2,889,012 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Joby Aviation during the 1st quarter worth about $15,357,000. Ieq Capital LLC raised its holdings in Joby Aviation by 68.6% in the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock valued at $22,652,000 after buying an additional 1,807,054 shares during the period. Susquehanna Fundamental Investments LLC lifted its position in Joby Aviation by 1,018.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after buying an additional 616,579 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Joby Aviation by 41.8% during the second quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock worth $7,521,000 after buying an additional 435,069 shares during the period. Hedge funds and other 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.