Joby Aviation (NYSE:JOBY) Shares Down 0.5% – Here’s Why

Joby Aviation, Inc. (NYSE:JOBY) fell 0.5% during trading on Tuesday . The company traded as low as $5.95 and last traded at $6.24. 9,875,567 shares changed hands during mid-day trading, an increase of 36% from the average session volume of 7,253,255 shares. The stock had previously closed at $6.27.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on JOBY shares. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. cut their price target on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. Canaccord Genuity Group lowered their target price on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 30th.

Joby Aviation Stock Up 0.7 %

The company has a market capitalization of $4.52 billion, a P/E ratio of -8.91 and a beta of 1.97. The company has a 50 day simple moving average of $5.34 and a two-hundred day simple moving average of $5.32.

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

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Didier Papadopoulos sold 6,025 shares of the stock in a transaction 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 owns 47,474 shares in the company, valued at $253,036.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total value of $1,212,500.00. Following the completion of the sale, the chief executive officer now owns 32,674,274 shares of the company’s stock, valued at approximately $158,470,228.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Didier Papadopoulos sold 6,025 shares of the company’s stock in a transaction 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 owns 47,474 shares of the company’s stock, valued at approximately $253,036.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 525,499 shares of company stock worth $2,667,151. Insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Flaharty Asset Management LLC boosted its stake in Joby Aviation by 25.0% in the second quarter. Flaharty Asset Management LLC now owns 15,000 shares of the company’s stock valued at $76,000 after acquiring an additional 3,000 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Joby Aviation by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 50,103 shares of the company’s stock worth $269,000 after purchasing an additional 3,942 shares in the last quarter. Amalgamated Bank grew its stake in 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 last quarter. Cetera Advisors LLC increased its holdings in shares of Joby Aviation by 32.9% during the first quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock valued at $109,000 after acquiring an additional 5,025 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Joby Aviation by 216.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after acquiring an additional 5,840 shares during the period. 45.54% of the stock is owned by institutional investors.

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.