Joby Aviation (NYSE:JOBY) Trading Down 1.3% - Time to Sell?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report)'s stock price fell 1.3% during mid-day trading on Monday . The stock traded as low as $7.40 and last traded at $7.68. 9,369,040 shares traded hands during mid-day trading, an increase of 10% from the average session volume of 8,517,233 shares. The stock had previously closed at $7.78.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC began coverage on shares of Joby Aviation in a report on Tuesday, November 19th. They set a "buy" rating and a $8.00 price target for the company. HC Wainwright reissued a "buy" rating and set a $9.00 price target on shares of Joby Aviation in a research report on Wednesday, October 2nd. Canaccord Genuity Group cut their price target on shares of Joby Aviation from $10.50 to $9.75 and set a "buy" rating on the stock in a report on Tuesday, October 29th. JPMorgan Chase & Co. decreased their price target 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. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $10.00 price objective on shares of Joby Aviation in a research note on Monday, September 30th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $8.35.

Joby Aviation Stock Performance

The company's fifty day moving average price is $6.45 and its 200 day moving average price is $5.73. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of -11.39 and a beta of 2.32.

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 analysts' consensus estimates of ($0.19) by ($0.02). The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter in the previous year, the company earned ($0.13) earnings per share. As a group, sell-side analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, insider Gregory Bowles sold 26,775 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $5.14, for a total transaction of $137,623.50. Following the completion of the transaction, the insider now directly owns 18,035 shares of the company's stock, valued at approximately $92,699.90. This trade represents a 59.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eric Allison sold 27,817 shares of the firm's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $5.56, for a total value of $154,662.52. Following the transaction, the insider now directly owns 463,151 shares of the company's stock, valued at $2,575,119.56. This represents a 5.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 529,501 shares of company stock worth $2,713,595. 32.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ieq Capital LLC increased its holdings in shares of Joby Aviation by 68.6% in the second quarter. Ieq Capital LLC now owns 4,441,574 shares of the company's stock valued at $22,652,000 after buying an additional 1,807,054 shares in the last quarter. State Street Corp boosted its position in Joby Aviation by 9.5% during 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 during the period. Geode Capital Management LLC grew 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 acquiring an additional 670,852 shares in the last quarter. Susquehanna Fundamental Investments LLC lifted its holdings in shares of Joby Aviation by 1,018.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company's stock valued at $3,453,000 after buying an additional 616,579 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Joby Aviation by 41.8% in the second quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company's stock worth $7,521,000 after acquiring an additional 435,069 shares in the last quarter. 52.85% of the stock is currently 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.