Joby Aviation (NYSE:JOBY) Shares Down 1.3% – Time to Sell?

Joby Aviation, Inc. (NYSE:JOBY)’s share price was down 1.3% on Friday . The company traded as low as $7.33 and last traded at $7.37. Approximately 2,717,092 shares were traded during trading, a decline of 79% from the average daily volume of 13,050,564 shares. The stock had previously closed at $7.47.

Wall Street Analysts Forecast Growth

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

Joby Aviation Stock Down 5.6 %

The company’s 50 day moving average price is $8.27 and its two-hundred day moving average price is $6.65. The firm has a market cap of $5.40 billion, a PE ratio of -10.05 and a beta of 2.33.

Insider Transactions at Joby Aviation

In other news, insider Bonny W. Simi sold 31,489 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $8.33, for a total value of $262,303.37. Following the completion of the transaction, the insider now directly owns 137,097 shares of the company’s stock, valued at approximately $1,142,018.01. The trade was a 18.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Didier Papadopoulos sold 6,005 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $7.65, for a total transaction of $45,938.25. Following the sale, the insider now directly owns 54,776 shares of the company’s stock, valued at approximately $419,036.40. The trade was a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,023,005 shares of company stock worth $8,667,288. 32.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Joby Aviation

A number of large investors have recently made changes to their positions in JOBY. Bouvel Investment Partners LLC boosted its holdings in Joby Aviation by 1.4% in the fourth quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company’s stock valued at $1,007,000 after purchasing an additional 1,715 shares during the last quarter. NewEdge Advisors LLC raised its position in Joby Aviation by 9.9% during the fourth quarter. NewEdge Advisors LLC now owns 21,505 shares of the company’s stock valued at $175,000 after acquiring an additional 1,935 shares in the last quarter. Gallagher Fiduciary Advisors LLC boosted its position in Joby Aviation by 3.1% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 66,800 shares of the company’s stock worth $543,000 after purchasing an additional 2,000 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of Joby Aviation by 6.6% during the 4th quarter. Private Advisor Group LLC now owns 36,774 shares of the company’s stock worth $299,000 after purchasing an additional 2,261 shares during the period. Finally, Larson Financial Group LLC grew its position in Joby Aviation by 35.3% during the fourth quarter. Larson Financial Group LLC now owns 9,864 shares of the company’s stock valued at $80,000 after buying an additional 2,574 shares during the period. 52.85% of the stock is owned by hedge funds and other institutional investors.

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.