Joby Aviation (NYSE:JOBY) Shares Down 0.5% - Time to Sell?

Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) fell 0.5% on Thursday . The company traded as low as $7.02 and last traded at $7.13. 3,869,457 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 11,818,623 shares. The stock had previously closed at $7.17.

Analyst Upgrades and Downgrades

JOBY has been the subject of several research reports. Morgan Stanley reiterated an "equal weight" rating and issued a $7.00 target price (down from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Thursday, February 27th. JPMorgan Chase & Co. decreased their price target on shares of Joby Aviation from $6.00 to $5.00 and set an "underweight" rating for the company in a research note on Thursday, February 27th. Canaccord Genuity Group raised their target price on Joby Aviation from $11.50 to $12.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $9.00 price target on shares of Joby Aviation in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Joby Aviation has a consensus rating of "Moderate Buy" and an average target price of $8.67.

Joby Aviation Stock Down 0.5%

The company has a 50-day moving average of $6.23 and a 200-day moving average of $7.08. The company has a market cap of $5.62 billion, a PE ratio of -10.19 and a beta of 2.34.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. As a group, equities analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Activity

In other Joby Aviation news, Director Paul Cahill Sciarra sold 166,667 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $6.78, for a total transaction of $1,130,002.26. Following the completion of the sale, the director now directly owns 58,494,728 shares in the company, valued at $396,594,255.84. The trade was a 0.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joeben Bevirt sold 250,000 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $5.89, for a total transaction of $1,472,500.00. Following the sale, the chief executive officer now directly owns 32,275,793 shares of the company's stock, valued at approximately $190,104,420.77. The trade was a 0.77% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 652,114 shares of company stock valued at $3,982,965. 28.50% of the stock is currently owned by insiders.

Institutional Trading of Joby Aviation

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in shares of Joby Aviation by 773.9% in the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock worth $34,000 after purchasing an additional 5,015 shares during the period. Whittier Trust Co. purchased a new stake in shares of Joby Aviation in the fourth quarter valued at $38,000. Salem Investment Counselors Inc. lifted its holdings in shares of 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 during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of Joby Aviation during the 4th quarter worth about $41,000. Finally, Toronto Dominion Bank bought a new position in Joby Aviation during the 4th quarter valued at about $41,000. 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.

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