Joby Aviation (NYSE:JOBY) Shares Down 3.4% – Should You Sell?

Shares of Joby Aviation, Inc. (NYSE:JOBY) fell 3.4% during mid-day trading on Friday . The stock traded as low as $5.58 and last traded at $5.71. 4,186,308 shares changed hands during trading, a decline of 43% from the average session volume of 7,391,074 shares. The stock had previously closed at $5.91.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on JOBY. Canaccord Genuity Group dropped 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 30th. 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. Finally, JPMorgan Chase & Co. dropped their target price 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.

Joby Aviation Stock Performance

The firm’s 50-day simple moving average is $5.43 and its 200 day simple moving average is $5.34. The stock has a market capitalization of $4.10 billion, a P/E ratio of -8.19 and a beta of 1.97.

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

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Didier Papadopoulos sold 6,025 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $5.33, for a total transaction of $32,113.25. Following the transaction, the insider now owns 47,474 shares of the company’s stock, valued at $253,036.42. The trade was a 11.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Matthew Field sold 5,643 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $5.96, for a total value of $33,632.28. Following the completion of the sale, the insider now directly owns 293,143 shares of the company’s stock, valued at approximately $1,747,132.28. The trade was a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 525,499 shares of company stock valued at $2,667,151. 32.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Joby Aviation

A number of large investors have recently added to or reduced their stakes in the business. 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 valued at $3,453,000 after purchasing an additional 616,579 shares during the last quarter. Rhumbline Advisers grew its stake in Joby Aviation by 26.7% in the 2nd quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock valued at $2,798,000 after buying an additional 115,483 shares during the last quarter. Vanguard Group Inc. raised its holdings in Joby Aviation by 9.1% in 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 period. ProShare Advisors LLC lifted its position in Joby Aviation by 8.5% during the first quarter. ProShare Advisors LLC now owns 50,103 shares of the company’s stock worth $269,000 after acquiring an additional 3,942 shares during the last quarter. Finally, Cetera Advisors LLC boosted its holdings in shares of Joby Aviation by 32.9% during the first quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock worth $109,000 after acquiring an additional 5,025 shares during the period. Institutional investors 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.