Joby Aviation (NYSE:JOBY) Stock Price Down 2.8%

Joby Aviation, Inc. (NYSE:JOBY) traded down 2.8% on Monday . The company traded as low as $5.28 and last traded at $5.28. 884,703 shares were traded during trading, a decline of 84% from the average session volume of 5,493,238 shares. The stock had previously closed at $5.43.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. HC Wainwright initiated coverage on shares of Joby Aviation in a research note on Tuesday, September 3rd. They set a “buy” rating and a $9.00 target price on the stock. JPMorgan Chase & Co. raised their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Monday, September 9th. Finally, Canaccord Genuity Group lowered their price target 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 Trading Down 1.8 %

The firm has a market capitalization of $3.82 billion, a P/E ratio of -6.95 and a beta of 1.97. The business’s fifty day moving average is $5.53 and its 200 day moving average is $5.22.

Joby Aviation (NYSE:JOBY) last posted 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 during the quarter, compared to the consensus estimate of $0.28 million. During the same period in the prior year, the company posted ($0.17) EPS. As a group, sell-side analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Didier Papadopoulos sold 7,262 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $5.15, for a total transaction of $37,399.30. Following the transaction, the insider now owns 65,561 shares in the company, valued at approximately $337,639.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction 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 owns 32,724,274 shares in the company, valued at approximately $159,039,971.64. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Didier Papadopoulos sold 7,262 shares of Joby Aviation stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $5.15, for a total transaction of $37,399.30. Following the sale, the insider now owns 65,561 shares in the company, valued at $337,639.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 321,815 shares of company stock valued at $1,592,547. 32.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its stake in Joby Aviation by 25.2% during the fourth quarter. Victory Capital Management Inc. now owns 51,534 shares of the company’s stock worth $343,000 after acquiring an additional 10,367 shares in the last quarter. Private Advisor Group LLC bought a new position in Joby Aviation in the 4th quarter valued at $77,000. Charles Schwab Investment Management Inc. boosted its stake in Joby Aviation by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,818,603 shares of the company’s stock worth $25,394,000 after purchasing an additional 64,404 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Joby Aviation in the fourth quarter valued at $86,000. Finally, Janney Montgomery Scott LLC increased its stake in shares of Joby Aviation by 4.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 109,715 shares of the company’s stock valued at $730,000 after buying an additional 4,445 shares in the last quarter. Institutional investors and hedge funds own 45.54% of the company’s stock.

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.