Joby Aviation (NYSE:JOBY) Trading Down 1.4% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY)’s stock price was down 1.4% during trading on Tuesday . The company traded as low as $5.77 and last traded at $5.94. Approximately 3,495,811 shares changed hands during trading, a decline of 72% from the average daily volume of 12,450,154 shares. The stock had previously closed at $6.02.

Analyst Ratings Changes

JOBY has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Canaccord Genuity Group upped their price objective on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research report on Wednesday, January 8th. HC Wainwright reissued 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 reaffirmed an “overweight” rating and set a $9.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.90.

Joby Aviation Price Performance

The company has a market capitalization of $4.55 billion, a PE ratio of -8.26 and a beta of 2.35. The business has a 50-day moving average of $7.21 and a 200 day moving average of $6.94.

Insider Activity at Joby Aviation

In related news, Director Paul Cahill Sciarra sold 333,334 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $8.02, for a total value of $2,673,338.68. Following the completion of the sale, the director now directly owns 58,661,395 shares in the company, valued at $470,464,387.90. This trade represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Didier Papadopoulos sold 7,692 shares of Joby Aviation stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $10.00, for a total transaction of $76,920.00. Following the transaction, the insider now directly owns 50,902 shares of the company’s stock, valued at approximately $509,020. This represents a 13.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,191,832 shares of company stock valued at $9,796,214. 32.40% of the stock is owned by corporate insiders.

Institutional Trading of Joby Aviation

Hedge funds and other institutional investors have recently bought and sold shares of the business. Whittier Trust Co. bought a new position in shares of Joby Aviation in the fourth quarter worth about $38,000. Salem Investment Counselors Inc. grew its stake in Joby Aviation by 5,000.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock worth $41,000 after acquiring an additional 5,000 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of Joby Aviation during the fourth quarter worth approximately $41,000. Toronto Dominion Bank bought a new stake in shares of Joby Aviation during the fourth quarter valued at approximately $41,000. Finally, Carolinas Wealth Consulting LLC bought a new stake in shares of Joby Aviation during the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 52.85% 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.