Joby Aviation (NYSE:JOBY) Shares Down 0.2% - Should You Sell?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) traded down 0.2% on Wednesday . The stock traded as low as $5.00 and last traded at $5.09. 5,467,924 shares were traded during mid-day trading, a decline of 21% from the average session volume of 6,959,566 shares. The stock had previously closed at $5.10.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. HC Wainwright reiterated a "buy" rating and set a $9.00 price target on shares of Joby Aviation in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Joby Aviation from $6.00 to $5.00 and set a "neutral" rating for the company in a research note 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 restated an "overweight" rating and set a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th.

Joby Aviation Price Performance

The company has a 50 day simple moving average of $5.31 and a 200-day simple moving average of $5.30. The stock has a market cap of $3.63 billion, a P/E ratio of -10.36 and a beta of 1.97.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, hitting analysts' consensus estimates of ($0.18). The business had revenue of $0.28 million during the quarter, compared to analysts' expectations of $0.28 million. During the same quarter in the previous year, the business earned ($0.17) EPS. As a group, research analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Activity

In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 in the company, valued at approximately $158,470,228.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 32,674,274 shares in the company, 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 can be accessed through the SEC website. Also, insider Didier Papadopoulos sold 6,025 shares of Joby Aviation stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $5.33, for a total transaction of $32,113.25. Following the sale, the insider now directly owns 47,474 shares in the company, valued at $253,036.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 525,499 shares of company stock valued at $2,667,151. Insiders own 32.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its position in shares of Joby Aviation by 216.3% during the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company's stock valued at $44,000 after purchasing an additional 5,840 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Joby Aviation during the 3rd quarter valued at $51,000. Sound Income Strategies LLC boosted its holdings in shares of Joby Aviation by 3,311.3% during the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company's stock valued at $52,000 after buying an additional 10,000 shares in the last quarter. Integris Wealth Management LLC bought a new position in shares of Joby Aviation in the 2nd quarter worth about $54,000. Finally, Dakota Wealth Management bought a new position in shares of Joby Aviation in the 2nd quarter worth about $56,000. Hedge funds and other institutional investors own 45.54% of the company's stock.

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.

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