Joby Aviation, Inc. (NYSE:JOBY) Insider Sells $14,826.80 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Sergey Novikov sold 1,835 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $8.08, for a total value of $14,826.80. Following the sale, the insider now owns 45,434 shares in the company, valued at $367,106.72. The trade was a 3.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Joby Aviation Price Performance

Shares of JOBY stock traded up $1.68 during trading hours on Friday, reaching $9.77. The company had a trading volume of 29,006,756 shares, compared to its average volume of 20,730,629. Joby Aviation, Inc. has a 1-year low of $4.50 and a 1-year high of $9.82. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of -13.96 and a beta of 2.32. The company has a 50 day moving average of $7.18 and a 200 day moving average of $6.04.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The firm had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. During the same quarter last year, the business posted ($0.13) earnings per share. As a group, sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors have recently added to or reduced their stakes in JOBY. Larson Financial Group LLC boosted its position in Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after acquiring an additional 5,000 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Joby Aviation in the third quarter worth $51,000. Sound Income Strategies LLC boosted its holdings in Joby Aviation by 3,311.3% during the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock worth $52,000 after purchasing an additional 10,000 shares during the last quarter. International Assets Investment Management LLC increased its stake in Joby Aviation by 403.0% in the 3rd quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock valued at $58,000 after buying an additional 9,188 shares during the last quarter. Finally, Choreo LLC bought a new stake in Joby Aviation during the 2nd quarter worth about $60,000. 52.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on JOBY. Canaccord Genuity Group decreased their price objective on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a report on Tuesday, October 29th. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Wednesday, December 18th. Needham & Company LLC began coverage on shares of Joby Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $8.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a research report on Monday, September 30th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Joby Aviation currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.35.

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.