Joby Aviation (NYSE:JOBY) Trading Down 0.6%

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) was down 0.6% during mid-day trading on Tuesday . The company traded as low as $4.95 and last traded at $4.97. Approximately 1,844,099 shares traded hands during trading, a decline of 67% from the average daily volume of 5,523,366 shares. The stock had previously closed at $5.00.

Analyst Ratings Changes

JOBY has been the subject of a number of recent research reports. HC Wainwright initiated coverage on Joby Aviation in a research report on Tuesday. They set a "buy" rating and a $9.00 price objective for the company. Cantor Fitzgerald reiterated an "overweight" rating and set a $10.00 price objective on shares of Joby Aviation in a report on Tuesday. JPMorgan Chase & Co. increased their target price on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 24th. Finally, Canaccord Genuity Group lowered their price target on Joby Aviation from $11.00 to $10.50 and set a "buy" rating on the stock in a research report on Thursday, August 8th.

Joby Aviation Trading Down 1.4 %

The company has a fifty day simple moving average of $5.52 and a two-hundred day simple moving average of $5.27. The stock has a market capitalization of $3.49 billion, a P/E ratio of -6.51 and a beta of 2.00.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.18). The business had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.28 million. During the same quarter last year, the company earned ($0.17) earnings per share. As a group, analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Didier Papadopoulos sold 23,188 shares of the business's stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $4.86, for a total transaction of $112,693.68. Following the completion of the sale, the insider now owns 54,666 shares in the company, valued at $265,676.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Matthew Field sold 11,766 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $5.17, for a total value of $60,830.22. Following the completion of the transaction, the insider now owns 299,880 shares of the company's stock, valued at approximately $1,550,379.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Didier Papadopoulos sold 23,188 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $4.86, for a total value of $112,693.68. Following the completion of the transaction, the insider now owns 54,666 shares of the company's stock, valued at $265,676.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 326,032 shares of company stock valued at $1,613,336. 32.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Flaharty Asset Management LLC boosted its stake in Joby Aviation by 25.0% in the 2nd quarter. Flaharty Asset Management LLC now owns 15,000 shares of the company's stock worth $76,000 after purchasing an additional 3,000 shares during the period. ProShare Advisors LLC boosted its stake in Joby Aviation by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 50,103 shares of the company's stock valued at $269,000 after purchasing an additional 3,942 shares during the last quarter. Amalgamated Bank grew its stake in shares of Joby Aviation by 46.2% in the second quarter. Amalgamated Bank now owns 13,905 shares of the company's stock worth $71,000 after acquiring an additional 4,391 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Joby Aviation by 4.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 109,715 shares of the company's stock valued at $730,000 after purchasing an additional 4,445 shares during the period. Finally, Cetera Advisors LLC boosted its stake in shares of Joby Aviation by 32.9% during the 1st quarter. Cetera Advisors LLC now owns 20,276 shares of the company's stock worth $109,000 after acquiring an additional 5,025 shares during the last quarter. Institutional investors and hedge funds 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.