Joby Aviation (NYSE:JOBY) Shares Down 5.5% - Should You Sell?

Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) traded down 5.5% during mid-day trading on Thursday . The company traded as low as $7.41 and last traded at $7.50. 9,627,150 shares were traded during trading, an increase of 10% from the average session volume of 8,720,123 shares. The stock had previously closed at $7.94.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Monday, September 30th. HC Wainwright reissued a "buy" rating and set a $9.00 price objective on shares of Joby Aviation in a report on Wednesday. Needham & Company LLC initiated coverage on Joby Aviation in a report on Tuesday, November 19th. They issued a "buy" rating and a $8.00 target price for the company. Canaccord Genuity Group cut their price target on Joby Aviation from $10.50 to $9.75 and set a "buy" rating on the stock in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. dropped their price objective 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. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the 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 Price Performance

The company has a fifty day moving average of $6.54 and a 200 day moving average of $5.77. The firm has a market capitalization of $5.53 billion, a P/E ratio of -10.33 and a beta of 2.32.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. The firm had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. During the same quarter in the previous year, the firm earned ($0.13) EPS. On average, sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Buying and Selling

In other news, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the completion of the transaction, the chief executive officer now directly owns 32,674,274 shares in the company, valued at $158,470,228.90. This trade represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Didier Papadopoulos sold 6,005 shares of Joby Aviation stock in a transaction on Monday, December 16th. The stock was sold at an average price of $7.65, for a total value of $45,938.25. Following the sale, the insider now owns 54,776 shares in the company, valued at $419,036.40. The trade was a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 535,506 shares of company stock valued at $2,759,533 over the last 90 days. Company insiders own 32.40% of the company's stock.

Institutional Trading of Joby Aviation

Several hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC increased its stake in shares of Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company's stock worth $37,000 after purchasing an additional 5,000 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Joby Aviation by 216.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company's stock valued at $44,000 after buying an additional 5,840 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Joby Aviation during the third quarter valued at about $51,000. Sound Income Strategies LLC lifted its holdings in shares of Joby Aviation by 3,311.3% in the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company's stock worth $52,000 after buying an additional 10,000 shares in the last quarter. Finally, Dakota Wealth Management purchased a new position in Joby Aviation during the second quarter valued at approximately $56,000. 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.