Joby Aviation (NYSE:JOBY) Stock Price Down 2.6% - Time to Sell?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report)'s share price traded down 2.6% on Thursday . The stock traded as low as $7.23 and last traded at $7.40. 4,744,415 shares traded hands during trading, a decline of 64% from the average session volume of 13,122,309 shares. The stock had previously closed at $7.59.

Wall Street Analysts Forecast Growth

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

Joby Aviation Trading Down 6.6 %

The company's fifty day moving average is $8.27 and its 200 day moving average is $6.65. The company has a market cap of $5.34 billion, a P/E ratio of -9.96 and a beta of 2.33.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Gregory Bowles sold 7,748 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $8.08, for a total value of $62,603.84. Following the sale, the insider now owns 29,235 shares of the company's stock, valued at $236,218.80. This trade represents a 20.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Didier Papadopoulos sold 7,692 shares of the firm's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $10.00, for a total transaction of $76,920.00. Following the completion of the sale, the insider now directly owns 50,902 shares in the company, valued at approximately $509,020. This trade represents a 13.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,023,005 shares of company stock valued at $8,667,288. Insiders own 32.40% of the company's stock.

Institutional Investors Weigh In On Joby Aviation

A number of large investors have recently added to or reduced their stakes in JOBY. Larson Financial Group LLC grew its holdings in Joby Aviation by 218.3% in the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company's stock worth $37,000 after acquiring an additional 5,000 shares during the last quarter. Whittier Trust Co. purchased a new stake in shares of Joby Aviation in the 4th quarter worth about $38,000. Salem Investment Counselors Inc. lifted its position in shares of Joby Aviation by 5,000.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company's stock worth $41,000 after purchasing an additional 5,000 shares during the period. Compagnie Lombard Odier SCmA purchased a new stake in shares of Joby Aviation in the 4th quarter worth about $41,000. Finally, Toronto Dominion Bank purchased a new stake in shares of Joby Aviation in the 4th quarter worth about $41,000. Institutional investors own 52.85% 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.