Joby Aviation (NYSE:JOBY) Trading Down 4.6%

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report)'s stock price traded down 4.6% during mid-day trading on Wednesday . The company traded as low as $5.13 and last traded at $5.14. 1,664,434 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 4,877,709 shares. The stock had previously closed at $5.39.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised Joby Aviation from an "underweight" rating to a "neutral" rating and set a $5.00 price objective for the company in a research note on Friday, May 3rd. One analyst has rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $7.67.

Joby Aviation Trading Down 4.7 %

The stock's fifty day simple moving average is $5.09 and its 200 day simple moving average is $5.69. The company has a market cap of $3.61 billion, a price-to-earnings ratio of -6.76 and a beta of 2.04.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.03. The company had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.05 million. Joby Aviation's revenue for the quarter was down 97.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.16) EPS. On average, analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Transactions at Joby Aviation

In related news, CEO Joeben Bevirt sold 5,448 shares of the company's stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $4.64, for a total value of $25,278.72. Following the completion of the sale, the chief executive officer now owns 662,605 shares of the company's stock, valued at $3,074,487.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Joeben Bevirt sold 5,448 shares of the company's stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $4.64, for a total value of $25,278.72. Following the transaction, the chief executive officer now directly owns 662,605 shares in the company, valued at $3,074,487.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew Field sold 12,500 shares of the firm's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $5.50, for a total value of $68,750.00. Following the sale, the insider now directly owns 232,506 shares of the company's stock, valued at approximately $1,278,783. The disclosure for this sale can be found here. Insiders have sold a total of 545,057 shares of company stock worth $2,786,187 in the last quarter. Company insiders own 49.50% of the company's stock.

Institutional Trading of Joby Aviation

Several institutional investors have recently added to or reduced their stakes in JOBY. 8VC GP I LLC acquired a new stake in shares of Joby Aviation during the fourth quarter worth about $95,727,000. Vanguard Group Inc. lifted its holdings in Joby Aviation by 20.6% during the 3rd quarter. Vanguard Group Inc. now owns 34,130,744 shares of the company's stock worth $220,143,000 after buying an additional 5,819,837 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of Joby Aviation by 10.3% in the fourth quarter. Baillie Gifford & Co. now owns 56,320,441 shares of the company's stock worth $374,531,000 after acquiring an additional 5,267,436 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Joby Aviation during the first quarter worth $15,357,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Joby Aviation by 55.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,754,199 shares of the company's stock valued at $24,215,000 after acquiring an additional 1,341,811 shares in the last quarter. Institutional investors and hedge funds own 45.54% 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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