Joby Aviation (NYSE:JOBY) Stock Price Down 1.9% - What's Next?

Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) traded down 1.9% during trading on Tuesday . The company traded as low as $7.37 and last traded at $7.68. 7,110,762 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 13,211,982 shares. The stock had previously closed at $7.83.

Analysts Set New Price Targets

Several research firms have recently issued reports on JOBY. Needham & Company LLC boosted their target price on Joby Aviation from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. HC Wainwright restated a "buy" rating and set a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, December 18th. Canaccord Genuity Group boosted their target price on Joby Aviation from $9.75 to $11.50 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lowered Joby Aviation from a "neutral" rating to an "underweight" rating and boosted their target price for the stock from $5.00 to $6.00 in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to MarketBeat, Joby Aviation presently has an average rating of "Moderate Buy" and an average price target of $9.30.

Joby Aviation Stock Performance

The company has a 50-day moving average of $8.32 and a 200-day moving average of $6.58. The firm has a market capitalization of $6.01 billion, a price-to-earnings ratio of -11.22 and a beta of 2.33.

Insider Activity at Joby Aviation

In other Joby Aviation news, CEO Joeben Bevirt sold 23,886 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $8.08, for a total value of $192,998.88. Following the sale, the chief executive officer now owns 768,293 shares in the company, valued at approximately $6,207,807.44. The trade was a 3.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bonny W. Simi sold 31,489 shares of the business's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $8.33, for a total value of $262,303.37. Following the completion of the sale, the insider now owns 137,097 shares in the company, valued at $1,142,018.01. The trade was a 18.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,025,284 shares of company stock worth $8,683,241. 32.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors have recently bought and sold shares of JOBY. Uber Technologies Inc bought a new stake in Joby Aviation in the 4th quarter valued at approximately $207,842,000. Vanguard Group Inc. raised its stake in shares of Joby Aviation by 15.8% during the 4th quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company's stock worth $380,163,000 after purchasing an additional 6,388,232 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of Joby Aviation by 4.3% during the 4th 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. Geode Capital Management LLC raised its stake in shares of Joby Aviation by 8.7% during the 4th quarter. Geode Capital Management LLC now owns 10,208,358 shares of the company's stock worth $83,015,000 after purchasing an additional 817,638 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Joby Aviation by 9.5% during the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company's stock worth $47,144,000 after purchasing an additional 812,248 shares in the last quarter. Institutional investors own 52.85% of the company's stock.

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.