Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) dropped 1.4% during mid-day trading on Tuesday . The stock traded as low as $5.77 and last traded at $5.94. Approximately 3,495,811 shares were traded during trading, a decline of 72% from the average daily volume of 12,450,154 shares. The stock had previously closed at $6.02.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on JOBY shares. JPMorgan Chase & Co. decreased their target price on shares of Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a research note on Thursday, February 27th. 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, January 8th. Cantor Fitzgerald reissued an "overweight" rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. HC Wainwright reissued a "buy" rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Thursday, February 27th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $10.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $8.90.
Get Our Latest Stock Report on JOBY
Joby Aviation Trading Up 1.4 %
The company's 50 day moving average is $7.15 and its 200-day moving average is $6.95. The company has a market capitalization of $4.74 billion, a P/E ratio of -8.59 and a beta of 2.35.
Insider Activity
In other news, insider Didier Papadopoulos sold 7,692 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $10.00, for a total transaction of $76,920.00. Following the sale, the insider now owns 50,902 shares in the company, valued at $509,020. This represents a 13.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bonny W. Simi sold 31,489 shares of the firm's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $8.33, for a total transaction of $262,303.37. Following the sale, the insider now directly owns 137,097 shares of the company's stock, valued at $1,142,018.01. This trade represents a 18.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,191,832 shares of company stock worth $9,796,214. Insiders own 32.40% of the company's stock.
Institutional Trading of Joby Aviation
A number of institutional investors have recently made changes to their positions in the stock. Whittier Trust Co. bought a new position in shares of Joby Aviation during the 4th quarter valued at $38,000. Salem Investment Counselors Inc. increased its holdings in Joby Aviation by 5,000.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company's stock valued at $41,000 after buying an additional 5,000 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new position in Joby Aviation in the fourth quarter worth approximately $41,000. Toronto Dominion Bank bought a new stake in shares of Joby Aviation during the 4th quarter valued at $41,000. Finally, Carolinas Wealth Consulting LLC bought a new stake in shares of Joby Aviation during the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 52.85% of the company's stock.
About Joby Aviation
(
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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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