Joby Aviation (NYSE:JOBY) Shares Down 0.2% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY) shares traded down 0.2% during mid-day trading on Wednesday . The company traded as low as $5.64 and last traded at $5.66. 2,148,877 shares traded hands during trading, a decline of 65% from the average session volume of 6,054,298 shares. The stock had previously closed at $5.67.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on JOBY. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, October 2nd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $10.50 price target on shares of Joby Aviation in a research report on Friday, October 4th. JPMorgan Chase & Co. lifted their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a report on Monday, September 30th.

Joby Aviation Trading Down 0.5 %

The business’s 50-day moving average price is $5.20 and its 200-day moving average price is $5.23. The stock has a market cap of $4.00 billion, a PE ratio of -7.45 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, meeting the consensus estimate of ($0.18). The business had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.28 million. During the same quarter in the prior year, the company posted ($0.17) EPS. As a group, analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Activity

In other Joby Aviation news, insider Kate Dehoff sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $5.50, for a total transaction of $68,750.00. Following the sale, the insider now owns 189,163 shares of the company’s stock, valued at approximately $1,040,396.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Didier Papadopoulos sold 6,025 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $5.33, for a total transaction of $32,113.25. Following the completion of the transaction, the insider now owns 47,474 shares of the company’s stock, valued at $253,036.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kate Dehoff sold 12,500 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $5.50, for a total transaction of $68,750.00. Following the transaction, the insider now owns 189,163 shares of the company’s stock, valued at $1,040,396.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 488,099 shares of company stock worth $2,467,109 over the last 90 days. 32.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Joby Aviation by 9.1% during the first quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after buying an additional 2,889,012 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Joby Aviation in the 1st quarter valued at about $15,357,000. Ieq Capital LLC raised its holdings in Joby Aviation by 68.6% in the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after purchasing an additional 1,807,054 shares during the period. Susquehanna Fundamental Investments LLC grew its holdings in Joby Aviation by 1,018.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after purchasing an additional 616,579 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Joby Aviation by 41.8% in the second quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock valued at $7,521,000 after buying an additional 435,069 shares in the last quarter. Institutional investors and hedge funds own 45.54% of the company’s stock.

About Joby Aviation

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.