Joby Aviation (NYSE:JOBY) Trading Down 0.2%

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report)'s share price dropped 0.2% during mid-day trading on Wednesday . The company traded as low as $5.03 and last traded at $5.05. Approximately 564,939 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 5,509,852 shares. The stock had previously closed at $5.06.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Canaccord Genuity Group dropped their price objective on shares of Joby Aviation from $11.00 to $10.50 and set a "buy" rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their price target on Joby Aviation from $5.00 to $6.00 and gave the company a "neutral" rating in a research note on Wednesday, July 24th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday, August 19th.

Joby Aviation Stock Performance

The firm's 50-day moving average price is $5.52 and its two-hundred day moving average price is $5.30. The firm has a market cap of $3.50 billion, a PE ratio of -6.50 and a beta of 2.00.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.18). The company had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.28 million. During the same quarter in the prior year, the company earned ($0.17) EPS. As a group, sell-side analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Kate Dehoff sold 5,815 shares of Joby Aviation stock in a transaction on Monday, July 15th. The shares were sold at an average price of $6.76, for a total value of $39,309.40. Following the transaction, the insider now directly owns 199,413 shares of the company's stock, valued at approximately $1,348,031.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Joby Aviation news, insider Matthew Field sold 5,642 shares of the company's stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $5.19, for a total transaction of $29,281.98. Following the completion of the sale, the insider now directly owns 294,238 shares of the company's stock, valued at approximately $1,527,095.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kate Dehoff sold 5,815 shares of Joby Aviation stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $6.76, for a total value of $39,309.40. Following the completion of the transaction, the insider now owns 199,413 shares in the company, valued at $1,348,031.88. The disclosure for this sale can be found here. Insiders have sold 326,032 shares of company stock worth $1,613,336 in the last quarter. 32.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Joby Aviation

Several large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its position in Joby Aviation by 216.3% in the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company's stock valued at $44,000 after purchasing an additional 5,840 shares during the period. Integris Wealth Management LLC acquired a new stake in Joby Aviation in the 2nd quarter valued at about $54,000. Dakota Wealth Management purchased a new position in Joby Aviation during the 2nd quarter valued at about $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of Joby Aviation in the second quarter valued at about $57,000. Finally, Choreo LLC purchased a new stake in shares of Joby Aviation in the second quarter valued at about $60,000. Hedge funds and other institutional investors own 45.54% 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.