Joby Aviation (NYSE:JOBY) Trading Down 4.7% - Should You Sell?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) shares were down 4.7% on Friday . The company traded as low as $8.64 and last traded at $9.04. Approximately 10,381,774 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 19,271,301 shares. The stock had previously closed at $9.49.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on JOBY. Needham & Company LLC initiated coverage on shares of Joby Aviation in a report on Tuesday, November 19th. They issued a "buy" rating and a $8.00 price target on the stock. HC Wainwright reiterated a "buy" rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, December 18th. Cantor Fitzgerald reissued 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. cut shares of Joby Aviation from a "neutral" rating to an "underweight" rating and increased their price target for the company from $5.00 to $6.00 in a research report on Friday. Finally, Canaccord Genuity Group upped their price objective on shares of Joby Aviation from $9.75 to $11.50 and gave the company a "buy" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, Joby Aviation has an average rating of "Moderate Buy" and an average price target of $8.90.

Joby Aviation Trading Down 7.7 %

The company has a market capitalization of $6.70 billion, a P/E ratio of -12.51 and a beta of 2.33. The stock's fifty day moving average is $7.56 and its 200 day moving average is $6.18.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) EPS 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. On average, analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Transactions at Joby Aviation

In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of the company's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $9.84, for a total transaction of $2,460,000.00. Following the transaction, the chief executive officer now owns 32,325,793 shares in the company, valued at approximately $318,085,803.12. This represents a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Didier Papadopoulos sold 6,005 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $7.65, for a total value of $45,938.25. Following the completion of the transaction, the insider now owns 54,776 shares of the company's stock, valued at approximately $419,036.40. The trade was a 9.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 355,160 shares of company stock worth $3,177,342. 32.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Joby Aviation

Institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its position in shares of 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 buying an additional 5,000 shares during the period. Empowered Funds LLC bought a new position in shares of Joby Aviation during the third quarter valued at approximately $51,000. Sound Income Strategies LLC lifted its holdings in shares of Joby Aviation by 3,311.3% during the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company's stock valued at $52,000 after purchasing an additional 10,000 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Joby Aviation by 403.0% in the 3rd quarter. International Assets Investment Management LLC now owns 11,468 shares of the company's stock worth $58,000 after purchasing an additional 9,188 shares in the last quarter. Finally, Choreo LLC purchased a new stake in shares of Joby Aviation in the 2nd quarter worth approximately $60,000. 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.