Joby Aviation (NYSE:JOBY) Trading Down 0.2% – Here’s What Happened

Joby Aviation, Inc. (NYSE:JOBY)’s share price traded down 0.2% on Wednesday . The stock traded as low as $5.00 and last traded at $5.09. 5,467,924 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 6,959,566 shares. The stock had previously closed at $5.10.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their price target on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 30th. Finally, Canaccord Genuity Group reduced their price objective on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research note on Tuesday, October 29th.

Joby Aviation Trading Down 0.5 %

The firm has a 50 day simple moving average of $5.31 and a 200 day simple moving average of $5.30. The firm has a market capitalization of $3.63 billion, a PE ratio of -10.36 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last released 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 period last year, the business earned ($0.17) earnings per share. Research analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Activity

In other Joby Aviation news, insider Didier Papadopoulos sold 6,025 shares of Joby Aviation stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $5.33, for a total value of $32,113.25. Following the completion of the sale, the insider now owns 47,474 shares of the company’s stock, valued at approximately $253,036.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Paul Cahill Sciarra sold 166,666 shares of Joby Aviation stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $5.15, for a total transaction of $858,329.90. Following the transaction, the director now directly owns 59,828,059 shares of the company’s stock, valued at $308,114,503.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Didier Papadopoulos sold 6,025 shares of Joby Aviation stock in a transaction that occurred 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 transaction, the insider now directly owns 47,474 shares in the company, valued at $253,036.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 525,499 shares of company stock valued at $2,667,151 in the last 90 days. 32.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Joby Aviation

Institutional investors have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC increased its holdings in shares of Joby Aviation by 1,018.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock worth $3,453,000 after purchasing an additional 616,579 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Joby Aviation by 215.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,682 shares of the company’s stock worth $1,965,000 after acquiring an additional 270,794 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Joby Aviation by 26.7% during the 2nd quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock worth $2,798,000 after acquiring an additional 115,483 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Joby Aviation by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock valued at $185,776,000 after acquiring an additional 2,889,012 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Joby Aviation by 84.3% in the first quarter. Janney Montgomery Scott LLC now owns 202,223 shares of the company’s stock valued at $1,084,000 after purchasing an additional 92,508 shares in the last quarter. 45.54% of the stock is owned by hedge funds and other institutional investors.

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.