Joby Aviation (NYSE:JOBY) Trading Down 2.4% - Should You Sell?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) traded down 2.4% on Thursday . The stock traded as low as $7.66 and last traded at $7.75. 4,580,004 shares traded hands during trading, a decline of 46% from the average session volume of 8,457,227 shares. The stock had previously closed at $7.94.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Cantor Fitzgerald restated an "overweight" rating and set a $10.00 price target on shares of Joby Aviation in a report on Monday, September 30th. JPMorgan Chase & Co. lowered their price objective on Joby Aviation from $6.00 to $5.00 and set a "neutral" rating for the company in a research note on Tuesday, October 29th. Needham & Company LLC started coverage on Joby Aviation in a research note on Tuesday, November 19th. They issued a "buy" rating and a $8.00 price objective for the company. 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 lowered their price objective on Joby Aviation from $10.50 to $9.75 and set a "buy" rating for the company in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $8.35.

Joby Aviation Trading Down 4.0 %

The firm has a market capitalization of $5.83 billion, a P/E ratio of -10.89 and a beta of 2.31. The firm has a 50 day moving average price of $6.37 and a 200-day moving average price of $5.68.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. During the same period in the prior year, the business posted ($0.13) earnings per share. Research analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Buying and Selling

In other Joby Aviation news, Director Paul Cahill Sciarra sold 166,666 shares of Joby Aviation stock in a transaction on Monday, September 30th. The stock was sold at an average price of $5.15, for a total transaction of $858,329.90. Following the completion of the sale, the director now directly owns 59,828,059 shares of the company's stock, valued at $308,114,503.85. The trade was a 0.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Didier Papadopoulos sold 6,025 shares of Joby Aviation stock in a transaction on Monday, September 16th. The shares were 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 approximately $253,036.42. This trade represents a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 535,526 shares of company stock valued at $2,745,708. Insiders own 32.40% of the company's stock.

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors and hedge funds have recently bought and sold shares of JOBY. Intech Investment Management LLC purchased a new position in shares of Joby Aviation in the 3rd quarter valued at $518,000. Fred Alger Management LLC increased its holdings in shares of Joby Aviation by 89.4% in the 3rd quarter. Fred Alger Management LLC now owns 123,368 shares of the company's stock valued at $621,000 after acquiring an additional 58,229 shares during the period. Caprock Group LLC increased its holdings in shares of Joby Aviation by 179.5% in the 3rd quarter. Caprock Group LLC now owns 124,404 shares of the company's stock valued at $626,000 after acquiring an additional 79,896 shares during the period. Susquehanna Fundamental Investments LLC increased its holdings in shares of Joby Aviation by 1,018.5% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company's stock valued at $3,453,000 after acquiring an additional 616,579 shares during the period. Finally, Holocene Advisors LP increased its holdings in shares of Joby Aviation by 91.7% in the 3rd quarter. Holocene Advisors LP now owns 521,327 shares of the company's stock valued at $2,622,000 after acquiring an additional 249,375 shares during the period. 45.54% of the stock is owned by 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.