Joby Aviation (NYSE:JOBY) Trading Down 1% – Should You Sell?

Shares of Joby Aviation, Inc. (NYSE:JOBY) were down 1% during trading on Thursday . The stock traded as low as $6.14 and last traded at $6.18. Approximately 4,859,040 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 6,237,207 shares. The stock had previously closed at $6.24.

Analyst Upgrades and Downgrades

JOBY has been the subject of several research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th. JPMorgan Chase & Co. increased their price target on Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, October 2nd. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $10.50 target price on shares of Joby Aviation in a research report on Friday, October 4th.

Joby Aviation Stock Performance

The stock has a market cap of $3.69 billion, a P/E ratio of -10.51 and a beta of 1.97. The stock’s fifty day moving average is $5.32 and its 200 day moving average is $5.28.

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

Insider Buying and Selling at Joby Aviation

In other news, insider Gregory Bowles sold 26,775 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $5.14, for a total value of $137,623.50. Following the completion of the sale, the insider now owns 18,035 shares in the company, valued at approximately $92,699.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Gregory Bowles sold 26,775 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $5.14, for a total transaction of $137,623.50. Following the transaction, the insider now owns 18,035 shares of the company’s stock, valued at approximately $92,699.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Didier Papadopoulos sold 6,025 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $5.33, for a total value of $32,113.25. Following the sale, the insider now directly owns 47,474 shares of the company’s stock, valued at $253,036.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 525,499 shares of company stock worth $2,667,151 over the last quarter. Insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

A number of large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its stake in Joby Aviation by 216.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after buying an additional 5,840 shares during the period. Sound Income Strategies LLC grew its stake in Joby Aviation by 3,311.3% in the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock worth $52,000 after acquiring an additional 10,000 shares in the last quarter. Integris Wealth Management LLC purchased a new position in shares of Joby Aviation during the second quarter worth approximately $54,000. Dakota Wealth Management bought a new stake in shares of Joby Aviation during the second quarter valued at approximately $56,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of Joby Aviation in the second quarter valued at approximately $57,000. 45.54% 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.