Joby Aviation (NYSE:JOBY) Trading Down 0.6%

Shares of Joby Aviation, Inc. (NYSE:JOBY) dropped 0.6% during trading on Tuesday . The stock traded as low as $4.95 and last traded at $4.97. Approximately 1,844,099 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 5,523,366 shares. The stock had previously closed at $5.00.

Analysts Set New Price Targets

JOBY has been the subject of several research reports. JPMorgan Chase & Co. raised their target price on Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. HC Wainwright initiated coverage on Joby Aviation in a research report on Tuesday. They issued a “buy” rating and a $9.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Tuesday. Finally, Canaccord Genuity Group reduced their target price on Joby Aviation from $11.00 to $10.50 and set a “buy” rating for the company in a research report on Thursday, August 8th.

Joby Aviation Stock Down 0.9 %

The company has a market capitalization of $3.46 billion, a P/E ratio of -6.45 and a beta of 1.98. The stock has a fifty day simple moving average of $5.52 and a 200-day simple moving average of $5.26.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.18). The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.28 million. During the same period in the previous year, the business posted ($0.17) earnings per share. Analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity at Joby Aviation

In related news, insider Kate Dehoff sold 5,815 shares of Joby Aviation stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $6.76, for a total value of $39,309.40. Following the completion of the transaction, the insider now directly owns 199,413 shares of the company’s stock, valued at $1,348,031.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Matthew Field sold 11,766 shares of Joby Aviation stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $5.17, for a total value of $60,830.22. Following the completion of the transaction, the insider now directly owns 299,880 shares of the company’s stock, valued at $1,550,379.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kate Dehoff sold 5,815 shares of Joby Aviation stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $6.76, for a total value of $39,309.40. Following the completion of the sale, the insider now owns 199,413 shares of the company’s stock, valued at $1,348,031.88. The disclosure for this sale can be found here. Insiders sold 326,032 shares of company stock valued at $1,613,336 over the last ninety days. 32.40% of the stock is owned by insiders.

Institutional Trading of Joby Aviation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Flaharty Asset Management LLC grew its position in shares of Joby Aviation by 25.0% during the 2nd quarter. Flaharty Asset Management LLC now owns 15,000 shares of the company’s stock worth $76,000 after buying an additional 3,000 shares during the period. ProShare Advisors LLC grew its position in shares of Joby Aviation by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 50,103 shares of the company’s stock worth $269,000 after buying an additional 3,942 shares during the period. Amalgamated Bank grew its position in shares of Joby Aviation by 46.2% during the 2nd quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock worth $71,000 after buying an additional 4,391 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Joby Aviation by 4.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 109,715 shares of the company’s stock worth $730,000 after buying an additional 4,445 shares during the period. Finally, Cetera Advisors LLC grew its position in shares of Joby Aviation by 32.9% during the 1st quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock worth $109,000 after buying an additional 5,025 shares during the period. 45.54% of the stock is currently owned by institutional investors and hedge funds.

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.