Joby Aviation (NYSE:JOBY) Trading Down 1.2% - Should You Sell?

Key Points

• Joby Aviation's shares fell 1.2% to $16.96, with trading volume down 59% compared to its average, indicating decreased investor activity.
• Analysts have mixed ratings for Joby Aviation, with a consensus average rating of "Hold" and an average price target of $9.33, reflecting uncertainty in the stock's future performance.
• A significant insider transaction occurred, with Director Paul Cahill Sciarra selling over 500,000 shares for approximately $6.19 million, which raises questions about insider confidence in the company's outlook.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) was down 1.2% during mid-day trading on Tuesday . The stock traded as low as $16.84 and last traded at $16.96. Approximately 8,069,184 shares traded hands during trading, a decline of 59% from the average daily volume of 19,657,506 shares. The stock had previously closed at $17.16.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on JOBY. Morgan Stanley restated an "equal weight" rating and set a $7.00 price objective (down from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. Wall Street Zen upgraded Joby Aviation from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. HC Wainwright reaffirmed a "buy" rating and set a $13.00 price objective (up from $9.00) on shares of Joby Aviation in a research report on Monday, June 9th. Cantor Fitzgerald reissued a "neutral" rating and issued a $9.00 price objective on shares of Joby Aviation in a research report on Monday, June 23rd. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $12.00 target price on shares of Joby Aviation in a report on Wednesday, June 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Joby Aviation currently has an average rating of "Hold" and a consensus price target of $9.33.

Joby Aviation Stock Down 1.2%

The business's 50 day simple moving average is $11.02 and its 200-day simple moving average is $8.31. The stock has a market capitalization of $13.16 billion, a price-to-earnings ratio of -19.78 and a beta of 2.47.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 63.27% and a negative net margin of 447,083.78%. During the same period last year, the business posted ($0.14) EPS. On average, analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Kate Dehoff sold 20,823 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $13.67, for a total value of $284,650.41. Following the completion of the transaction, the insider directly owned 202,276 shares in the company, valued at approximately $2,765,112.92. This represents a 9.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Allison sold 27,538 shares of the business's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $11.97, for a total value of $329,629.86. Following the sale, the insider owned 660,076 shares in the company, valued at $7,901,109.72. This represents a 4.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,867,653 shares of company stock worth $19,256,442 in the last quarter. Corporate insiders own 28.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted its position 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. Strs Ohio acquired a new stake in Joby Aviation during the 1st quarter worth about $37,000. Ameritas Advisory Services LLC acquired a new stake in Joby Aviation during the 2nd quarter worth about $39,000. Toronto Dominion Bank bought a new position in shares of Joby Aviation in the 4th quarter worth about $41,000. Finally, Carolinas Wealth Consulting LLC acquired a new position in shares of Joby Aviation in the 4th quarter valued at about $41,000. Institutional investors and hedge funds 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.