Joby Aviation (NYSE:JOBY) Stock Price Down 3.5% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBYGet Free Report)’s stock price dropped 3.5% on Wednesday . The company traded as low as $7.62 and last traded at $7.66. Approximately 4,118,353 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 13,117,670 shares. The stock had previously closed at $7.94.

Analyst Ratings Changes

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

View Our Latest Analysis on JOBY

Joby Aviation Price Performance

The company has a market cap of $5.34 billion, a P/E ratio of -9.96 and a beta of 2.33. The company’s 50-day moving average price is $8.27 and its 200-day moving average price is $6.65.

Insiders Place Their Bets

In related news, insider Kate Dehoff sold 6,903 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $7.43, for a total value of $51,289.29. Following the completion of the transaction, the insider now owns 202,276 shares of the company’s stock, valued at approximately $1,502,910.68. This trade represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Didier Papadopoulos sold 7,692 shares of Joby Aviation stock in a transaction on Monday, January 6th. The shares were sold at an average price of $10.00, for a total transaction of $76,920.00. Following the completion of the sale, the insider now owns 50,902 shares in the company, valued at $509,020. The trade was a 13.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,023,005 shares of company stock worth $8,667,288. Corporate insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

Several hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank bought a new stake in shares of Joby Aviation during the 4th quarter worth approximately $41,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Joby Aviation by 15.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 444,860 shares of the company’s stock worth $3,617,000 after acquiring an additional 57,929 shares in the last quarter. Valueworks LLC lifted its stake in Joby Aviation by 14.0% in the fourth quarter. Valueworks LLC now owns 2,340,170 shares of the company’s stock valued at $19,026,000 after acquiring an additional 288,140 shares during the last quarter. Toyota Motor Corp bought a new position in shares of Joby Aviation in the 4th quarter valued at about $640,259,000. Finally, Shay Capital LLC bought a new position in shares of Joby Aviation in the 4th quarter valued at about $373,000. Institutional investors own 52.85% of the company’s stock.

Joby Aviation Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Joby Aviation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Joby Aviation and related companies with MarketBeat.com's FREE daily email newsletter.