Joby Aviation (NYSE:JOBY) Stock Price Down 2.4%

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) dropped 2.4% during trading on Thursday . The company traded as low as $5.13 and last traded at $5.19. Approximately 1,139,271 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 5,505,945 shares. The stock had previously closed at $5.32.

Analysts Set New Price Targets

Several brokerages recently issued reports on JOBY. HC Wainwright began coverage on shares of Joby Aviation in a research note on Tuesday, September 3rd. They set a "buy" rating and a $9.00 price objective for the company. JPMorgan Chase & Co. upped their price target 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 cut their price target on Joby Aviation from $11.00 to $10.50 and set a "buy" rating for the company in a report on Thursday, August 8th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $10.00 price objective on shares of Joby Aviation in a research note on Monday.

Joby Aviation Stock Up 0.6 %

The firm has a 50-day moving average of $5.52 and a two-hundred day moving average of $5.23. The company has a market capitalization of $3.83 billion, a PE ratio of -7.04 and a beta of 1.98.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.18). The business 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 company posted ($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 company's stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.86, for a total transaction of $1,215,000.00. Following the transaction, the chief executive officer now directly owns 32,724,274 shares in the company, valued at $159,039,971.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Joby Aviation news, insider Didier Papadopoulos sold 23,188 shares of the 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 $112,693.68. Following the sale, the insider now directly owns 54,666 shares in the company, valued at approximately $265,676.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Joeben Bevirt sold 250,000 shares of the firm'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 directly owns 32,724,274 shares of the company's stock, valued at approximately $159,039,971.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 326,032 shares of company stock worth $1,613,336. 32.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of Joby Aviation by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,818,603 shares of the company's stock valued at $25,394,000 after buying an additional 64,404 shares during the period. Private Advisor Group LLC purchased a new position in Joby Aviation in the fourth quarter worth approximately $77,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Joby Aviation by 215.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,682 shares of the company's stock worth $1,965,000 after acquiring an additional 270,794 shares in the last quarter. Apollon Wealth Management LLC purchased a new stake in shares of Joby Aviation in the 4th quarter valued at approximately $88,000. Finally, Vanguard Group Inc. increased its position in shares of Joby Aviation by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company's stock valued at $185,776,000 after purchasing an additional 2,889,012 shares during the last quarter. 45.54% of the stock is owned by institutional investors and hedge funds.

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.