Joby Aviation (NYSE:JOBY) Stock Price Down 1.9%

Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) traded down 1.9% on Wednesday . The stock traded as low as $5.05 and last traded at $5.05. 1,401,291 shares traded hands during trading, a decline of 75% from the average session volume of 5,502,166 shares. The stock had previously closed at $5.15.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on JOBY shares. JPMorgan Chase & Co. increased their target price on Joby Aviation from $5.00 to $6.00 and gave the company a "neutral" rating in a research report on Wednesday, July 24th. Canaccord Genuity Group dropped their price target on Joby Aviation from $11.00 to $10.50 and set a "buy" rating for the company in a research report on Thursday, August 8th. Cantor Fitzgerald restated an "overweight" rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Monday. Finally, HC Wainwright started coverage on shares of Joby Aviation in a report on Tuesday, September 3rd. They issued a "buy" rating and a $9.00 price objective for the company.

Joby Aviation Price Performance

The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of -7.02 and a beta of 1.98. The business has a fifty day moving average of $5.52 and a 200 day moving average of $5.23.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, hitting the consensus estimate of ($0.18). The firm had revenue of $0.28 million for the quarter, compared to analysts' expectations of $0.28 million. During the same quarter in the prior year, the business earned ($0.17) earnings per share. On average, equities research analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Transactions at Joby Aviation

In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of the business's stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $4.86, for a total transaction of $1,215,000.00. Following the completion of the transaction, the chief executive officer now owns 32,724,274 shares in the company, valued at approximately $159,039,971.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Didier Papadopoulos sold 23,188 shares of Joby Aviation stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $4.86, for a total transaction of $112,693.68. Following the sale, the insider now owns 54,666 shares in the company, valued at $265,676.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joeben Bevirt sold 250,000 shares of the firm'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 value of $1,215,000.00. Following the transaction, the chief executive officer now owns 32,724,274 shares in the company, valued at approximately $159,039,971.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 326,032 shares of company stock valued at $1,613,336. 32.40% of the stock is currently owned by company insiders.

Institutional Trading of Joby Aviation

Institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its holdings in shares of 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 buying an additional 5,840 shares during the last quarter. Integris Wealth Management LLC purchased a new position in Joby Aviation in the 2nd quarter valued at $54,000. Dakota Wealth Management purchased a new position in Joby Aviation during the 2nd quarter worth $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Joby Aviation during the second quarter worth about $57,000. Finally, Choreo LLC purchased a new position in Joby Aviation during the second quarter worth 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.