Joby Aviation (NYSE:JOBY) Stock Price Down 4.7% – What’s Next?

Shares of Joby Aviation, Inc. (NYSE:JOBY) traded down 4.7% on Friday . The company traded as low as $8.64 and last traded at $9.04. 10,381,774 shares traded hands during trading, a decline of 46% from the average session volume of 19,271,301 shares. The stock had previously closed at $9.49.

Analyst Ratings Changes

A number of equities analysts have commented on JOBY shares. Needham & Company LLC initiated coverage on Joby Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $8.00 target price on the stock. Canaccord Genuity Group increased their price objective on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a research report on Monday, September 30th. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. downgraded Joby Aviation from a “neutral” rating to an “underweight” rating and upped their price objective for the stock from $5.00 to $6.00 in a report on Friday. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $8.90.

Joby Aviation Trading Down 5.9 %

The business’s fifty day simple moving average is $7.56 and its 200 day simple moving average is $6.18. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of -12.76 and a beta of 2.33.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. The company had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.06 million. During the same quarter in the prior year, the company posted ($0.13) EPS. As a group, research analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Buying and Selling

In other Joby Aviation news, CEO Joeben Bevirt sold 23,886 shares of Joby Aviation stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $8.08, for a total value of $192,998.88. Following the transaction, the chief executive officer now owns 768,293 shares of the company’s stock, valued at approximately $6,207,807.44. The trade was a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kate Dehoff sold 27,898 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $5.50, for a total transaction of $153,439.00. Following the sale, the insider now directly owns 199,413 shares of the company’s stock, valued at $1,096,771.50. This represents a 12.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 355,160 shares of company stock valued at $3,177,342 in the last 90 days. 32.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC raised its stake in shares of Joby Aviation by 13.7% in the 3rd quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock valued at $147,000 after purchasing an additional 3,522 shares during the period. Kensington Investment Counsel LLC raised its position in Joby Aviation by 12.0% in the 3rd quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock valued at $172,000 after buying an additional 3,653 shares during the last quarter. Amalgamated Bank lifted its stake in Joby Aviation by 46.2% in the 2nd quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock valued at $71,000 after acquiring an additional 4,391 shares in the last quarter. Larson Financial Group LLC boosted its position in Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after acquiring an additional 5,000 shares during the last quarter. Finally, EP Wealth Advisors LLC raised its holdings in shares of Joby Aviation by 15.4% in the third quarter. EP Wealth Advisors LLC now owns 37,369 shares of the company’s stock valued at $188,000 after purchasing an additional 5,000 shares during the last quarter. 52.85% of the stock is 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.