Joby Aviation (NYSE:JOBY) Stock Price Down 3.8% - Time to Sell?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) dropped 3.8% on Monday . The stock traded as low as $5.42 and last traded at $5.51. Approximately 4,348,109 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 7,417,691 shares. The stock had previously closed at $5.73.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. HC Wainwright reissued a "buy" rating and set a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, October 2nd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th. JPMorgan Chase & Co. lowered their target price on shares of Joby Aviation from $6.00 to $5.00 and set a "neutral" rating for the company in a report on Tuesday, October 29th. Finally, Canaccord Genuity Group reduced their price objective on shares of Joby Aviation from $10.50 to $9.75 and set a "buy" rating for the company in a research report on Tuesday, October 29th.

Joby Aviation Stock Down 0.5 %

The firm's 50-day simple moving average is $5.43 and its 200 day simple moving average is $5.34. The firm has a market cap of $4.08 billion, a P/E ratio of -7.87 and a beta of 1.97.

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

Insider Activity at Joby Aviation

In other news, insider Kate Dehoff sold 27,898 shares of Joby Aviation stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $5.50, for a total transaction of $153,439.00. Following the completion of the sale, the insider now owns 199,413 shares in the company, valued at approximately $1,096,771.50. This trade represents a 12.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Matthew Field sold 5,643 shares of the business's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $5.96, for a total transaction of $33,632.28. Following the completion of the transaction, the insider now directly owns 293,143 shares of the company's stock, valued at approximately $1,747,132.28. This represents a 1.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 525,499 shares of company stock worth $2,667,151. Company insiders own 32.40% of the company's stock.

Hedge Funds Weigh In On Joby Aviation

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Joby Aviation by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company's stock worth $185,776,000 after buying an additional 2,889,012 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Joby Aviation by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company's stock valued at $47,245,000 after buying an additional 670,852 shares in the last quarter. State Street Corp increased its stake in shares of Joby Aviation by 9.5% in the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company's stock worth $47,144,000 after acquiring an additional 812,248 shares in the last quarter. Ieq Capital LLC lifted its position in Joby Aviation by 68.6% during the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company's stock valued at $22,652,000 after acquiring an additional 1,807,054 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Joby Aviation during the 1st quarter valued at about $15,357,000. Hedge funds and other institutional investors own 45.54% 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.

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