Joby Aviation (NYSE:JOBY) Trading Down 4.6% – Time to Sell?

by · The Cerbat Gem

Joby Aviation, Inc. (NYSE:JOBY – Get Free Report)’s stock price traded down 4.6% on Friday . The stock traded as low as $14.73 and last traded at $14.8490. 18,565,410 shares were traded during trading, a decline of 30% from the average session volume of 26,426,553 shares. The stock had previously closed at $15.56.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Morgan Stanley boosted their target price on shares of Joby Aviation from $7.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, October 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Friday, October 31st. HC Wainwright reaffirmed a “neutral” rating on shares of Joby Aviation in a research report on Monday, November 24th. Finally, The Goldman Sachs Group started coverage on Joby Aviation in a research report on Monday, December 1st. They issued a “sell” rating and a $10.00 price target for the company. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $13.43.

View Our Latest Stock Analysis on Joby Aviation

Joby Aviation Stock Performance

The stock has a market capitalization of $13.54 billion, a PE ratio of -11.08 and a beta of 2.53. The firm has a 50 day moving average of $15.62 and a 200-day moving average of $14.13.

Joby Aviation (NYSE:JOBY – Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.29). The firm had revenue of $22.57 million for the quarter, compared to analyst estimates of $0.02 million. Joby Aviation’s quarterly revenue was up 7962.1% compared to the same quarter last year. During the same period last year, the business earned ($0.21) earnings per share. On average, sell-side analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Buying and Selling

In other Joby Aviation news, insider Kate Dehoff sold 20,824 shares of the company’s stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $17.48, for a total value of $364,003.52. Following the transaction, the insider directly owned 149,369 shares of the company’s stock, valued at $2,610,970.12. This represents a 12.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gregory Bowles sold 3,931 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $13.72, for a total transaction of $53,933.32. Following the completion of the sale, the insider directly owned 159,085 shares of the company’s stock, valued at $2,182,646.20. This represents a 2.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,154,802 shares of company stock worth $17,844,775. Insiders own 28.50% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Institutional investors and hedge funds have recently modified their holdings of the business. Asset Planning Inc boosted its holdings in Joby Aviation by 70.0% in the third quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock worth $27,000 after purchasing an additional 700 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Joby Aviation by 284.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock worth $27,000 after acquiring an additional 1,880 shares in the last quarter. Canton Hathaway LLC acquired a new position in shares of Joby Aviation during the 3rd quarter valued at about $29,000. Strategic Advocates LLC bought a new position in shares of Joby Aviation in the 3rd quarter valued at approximately $29,000. Finally, Hilltop National Bank acquired a new stake in Joby Aviation in the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Joby Aviation Company Profile

(Get Free Report)

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.

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