Joby Aviation (NYSE:JOBY) Trading Down 1.4%

Joby Aviation, Inc. (NYSE:JOBY) shares fell 1.4% during mid-day trading on Tuesday . The stock traded as low as $4.86 and last traded at $4.92. 1,008,993 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 5,509,766 shares. The stock had previously closed at $4.99.

Analysts Set New Price Targets

JOBY has been the subject of several research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research report on Monday. JPMorgan Chase & Co. upped their price objective on Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Canaccord Genuity Group reduced their price objective on shares of Joby Aviation from $11.00 to $10.50 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, HC Wainwright initiated coverage on Joby Aviation in a report on Tuesday, September 3rd. They set a “buy” rating and a $9.00 price objective on the stock.

Joby Aviation Price Performance

The company has a 50 day moving average of $5.51 and a two-hundred day moving average of $5.23. The company has a market capitalization of $3.60 billion, a PE ratio of -6.47 and a beta of 1.98.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, meeting the consensus estimate of ($0.18). The firm had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.28 million. During the same quarter in the previous year, the business earned ($0.17) earnings per share. On average, equities analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Didier Papadopoulos sold 23,188 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.86, for a total value of $112,693.68. Following the sale, the insider now owns 54,666 shares in the company, valued at $265,676.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Joby Aviation news, insider Didier Papadopoulos sold 23,188 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.86, for a total transaction of $112,693.68. Following the sale, the insider now owns 54,666 shares of the company’s stock, valued at approximately $265,676.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $4.86, for a total transaction of $1,215,000.00. Following the sale, the chief executive officer now directly owns 32,724,274 shares of the company’s stock, valued at approximately $159,039,971.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 326,032 shares of company stock worth $1,613,336. Insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

Several institutional investors and hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new position in shares of Joby Aviation during the 2nd quarter worth approximately $81,000. EP Wealth Advisors LLC acquired a new stake in shares of Joby Aviation during the 2nd quarter worth approximately $165,000. Algert Global LLC purchased a new position in shares of Joby Aviation during the 2nd quarter worth approximately $90,000. Susquehanna Fundamental Investments LLC boosted its position in shares of Joby Aviation by 1,018.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock worth $3,453,000 after buying an additional 616,579 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Joby Aviation by 28.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 248,275 shares of the company’s stock worth $1,266,000 after buying an additional 55,340 shares in the last quarter. 45.54% of the stock is currently owned by institutional investors and hedge funds.

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.