Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) fell 2% during mid-day trading on Tuesday . The company traded as low as $6.58 and last traded at $6.64. 2,063,574 shares were traded during trading, a decline of 81% from the average session volume of 10,692,852 shares. The stock had previously closed at $6.77.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on JOBY. HC Wainwright restated a "buy" rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Cantor Fitzgerald reissued an "overweight" rating and set a $9.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. JPMorgan Chase & Co. lowered their target price on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating for the company in a report on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and set a $10.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group boosted their price target on Joby Aviation from $9.75 to $11.50 and gave the stock a "buy" rating in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Joby Aviation presently has an average rating of "Moderate Buy" and a consensus target price of $8.90.
View Our Latest Stock Report on JOBY
Joby Aviation Trading Down 4.8 %
The stock has a market cap of $4.82 billion, a P/E ratio of -8.75 and a beta of 2.35. The business has a 50-day simple moving average of $7.25 and a 200 day simple moving average of $6.91.
Insider Activity at Joby Aviation
In other Joby Aviation news, Director Paul Cahill Sciarra sold 166,667 shares of Joby Aviation stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $6.78, for a total value of $1,130,002.26. Following the completion of the sale, the director now directly owns 58,494,728 shares in the company, valued at approximately $396,594,255.84. The trade was a 0.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joeben Bevirt sold 23,886 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $8.08, for a total value of $192,998.88. Following the transaction, the chief executive officer now owns 768,293 shares in the company, valued at $6,207,807.44. The trade was a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,191,832 shares of company stock worth $9,796,214 over the last ninety days. Insiders own 32.40% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Whittier Trust Co. bought a new stake in Joby Aviation in the fourth quarter valued at $38,000. Allworth Financial LP raised its stake in Joby Aviation by 200.6% during the 4th quarter. Allworth Financial LP now owns 4,975 shares of the company's stock worth $44,000 after buying an additional 3,320 shares during the period. 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 position in Joby Aviation in the fourth quarter worth approximately $41,000. Finally, Carolinas Wealth Consulting LLC acquired a new stake in Joby Aviation in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 52.85% of the company's stock.
Joby Aviation Company Profile
(
Get Free Report)
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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