Joby Aviation (NYSE:JOBY) Stock Price Down 0.5% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY) shares were down 0.5% during mid-day trading on Wednesday . The company traded as low as $8.29 and last traded at $8.33. Approximately 2,101,092 shares were traded during trading, a decline of 86% from the average daily volume of 14,510,943 shares. The stock had previously closed at $8.37.

Analysts Set New Price Targets

JOBY has been the subject of a number of recent analyst reports. Needham & Company LLC lifted their target price 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 upped their target price on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. cut shares of Joby Aviation from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $5.00 to $6.00 in a research note on Friday, January 10th. Finally, HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.30.

Joby Aviation Price Performance

The firm has a market capitalization of $6.32 billion, a PE ratio of -11.81 and a beta of 2.33. The business’s 50 day moving average is $8.37 and its two-hundred day moving average is $6.50.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. The company had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. During the same quarter last year, the business posted ($0.13) EPS. Analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, insider Didier Papadopoulos sold 6,005 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $7.65, for a total value of $45,938.25. Following the completion of the sale, the insider now owns 54,776 shares in the company, valued at approximately $419,036.40. The trade was a 9.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul Cahill Sciarra sold 333,332 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $8.00, for a total transaction of $2,666,656.00. Following the sale, the director now directly owns 58,994,729 shares of the company’s stock, valued at $471,957,832. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 672,338 shares of company stock worth $5,864,050 over the last 90 days. Corporate insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

Institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund raised its stake in Joby Aviation by 14.6% in the fourth quarter. New York State Common Retirement Fund now owns 124,751 shares of the company’s stock worth $1,014,000 after buying an additional 15,900 shares in the last quarter. D.A. Davidson & CO. purchased a new stake in Joby Aviation in the fourth quarter worth $117,000. Baillie Gifford & Co. raised its holdings in Joby Aviation by 4.3% in the fourth quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company’s stock worth $447,412,000 after purchasing an additional 2,281,161 shares in the last quarter. Allworth Financial LP lifted its position in Joby Aviation by 200.6% during the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock valued at $44,000 after buying an additional 3,320 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Joby Aviation by 8.6% during the 4th quarter. Rhumbline Advisers now owns 594,419 shares of the company’s stock valued at $4,833,000 after buying an additional 47,070 shares in the last quarter. 52.85% of the stock is currently 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.