Joby Aviation (NYSE:JOBY) Shares Down 3.1% – Should You Sell?

Joby Aviation, Inc. (NYSE:JOBY) was down 3.1% during mid-day trading on Tuesday . The company traded as low as $9.77 and last traded at $10.0280. Approximately 23,445,613 shares traded hands during trading, a decline of 15% from the average daily volume of 27,629,400 shares. The stock had previously closed at $10.35.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on JOBY shares. JPMorgan Chase & Co. decreased their price objective on shares of Joby Aviation from $8.00 to $7.00 and set an “underweight” rating for the company in a report on Thursday, February 26th. Weiss Ratings cut shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Morgan Stanley decreased their price objective on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a report on Thursday, March 12th. Finally, Canaccord Genuity Group decreased their price objective on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $13.06.

Joby Aviation Price Performance

The company has a market cap of $9.86 billion, a price-to-earnings ratio of -8.72 and a beta of 2.61. The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36. The company’s fifty day moving average price is $9.28 and its two-hundred day moving average price is $11.93.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.09. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. The company had revenue of $24.25 million during the quarter, compared to analysts’ expectations of $20.17 million. During the same quarter in the prior year, the company earned ($0.11) earnings per share. On average, equities research analysts forecast that Joby Aviation, Inc. will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In related news, insider Didier Papadopoulos sold 12,965 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $8.15, for a total transaction of $105,664.75. Following the completion of the transaction, the insider owned 147,678 shares in the company, valued at approximately $1,203,575.70. This represents a 8.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joeben Bevirt sold 421,019 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $10.38, for a total transaction of $4,370,177.22. Following the transaction, the chief executive officer owned 31,678,802 shares of the company’s stock, valued at $328,825,964.76. The trade was a 1.31% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,096,111 shares of company stock valued at $10,504,153 in the last three months. 32.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp raised its position in Joby Aviation by 207.4% during the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock worth $26,000 after acquiring an additional 1,348 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Joby Aviation by 284.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock worth $27,000 after acquiring an additional 1,880 shares in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Joby Aviation during the fourth quarter worth $28,000. Strategic Advocates LLC bought a new stake in Joby Aviation during the third quarter worth $29,000. Finally, Pandora Wealth Inc. bought a new stake in Joby Aviation during the fourth quarter worth $32,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.