Joby Aviation (NYSE:JOBY) Stock Price Down 2.6% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY) shares were down 2.6% during mid-day trading on Monday . The stock traded as low as $8.33 and last traded at $8.54. Approximately 4,624,503 shares traded hands during trading, a decline of 70% from the average daily volume of 15,181,391 shares. The stock had previously closed at $8.76.

Analysts Set New Price Targets

Several research firms recently issued reports on JOBY. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Wednesday, December 18th. Canaccord Genuity Group raised their target price on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. downgraded shares of Joby Aviation from a “neutral” rating to an “underweight” rating and boosted their price target for the stock from $5.00 to $6.00 in a research note on Friday, January 10th. Finally, Needham & Company LLC raised their price objective on shares of Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.30.

Joby Aviation Trading Down 0.4 %

The company has a market capitalization of $6.38 billion, a P/E ratio of -11.91 and a beta of 2.33. The business has a 50 day moving average price of $8.29 and a 200 day moving average price of $6.48.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The firm had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same period in the previous year, the company posted ($0.13) EPS. On average, analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Didier Papadopoulos sold 7,692 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $10.00, for a total value of $76,920.00. Following the completion of the transaction, the insider now directly owns 50,902 shares of the company’s stock, valued at approximately $509,020. This represents a 13.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joeben Bevirt sold 23,886 shares of the stock in a transaction dated Thursday, January 2nd. The stock was 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. This trade represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 672,338 shares of company stock worth $5,864,050. Corporate insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

Large investors have recently bought and sold shares of the company. Salem Investment Counselors Inc. boosted its holdings in Joby Aviation by 5,000.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock worth $41,000 after purchasing an additional 5,000 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in Joby Aviation in the 4th quarter valued at $42,000. Larson Financial Group LLC lifted 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 buying an additional 5,000 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Joby Aviation in the 3rd quarter valued at about $51,000. Finally, Sound Income Strategies LLC increased its position in shares of Joby Aviation by 3,311.3% in the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after acquiring an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 52.85% 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.