Joby Aviation (NYSE:JOBY) Stock Price Down 1.8% – Time to Sell?

Joby Aviation, Inc. (NYSE:JOBYGet Free Report) fell 1.8% on Thursday . The company traded as low as $15.17 and last traded at $15.2670. 33,491,275 shares were traded during trading, an increase of 14% from the average session volume of 29,431,080 shares. The stock had previously closed at $15.55.

Joby Aviation News Summary

Here are the key news stories impacting Joby Aviation this week:

Analysts Set New Price Targets

Several brokerages recently commented on JOBY. Zacks Research raised Joby Aviation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price target on shares of Joby Aviation in a research report on Thursday, November 6th. JPMorgan Chase & Co. lifted their price objective on Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Friday, October 31st. HC Wainwright restated a “neutral” rating on shares of Joby Aviation in a report on Monday, November 24th. Finally, Morgan Stanley upped their price target on shares of Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, October 9th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Joby Aviation has an average rating of “Reduce” and a consensus price target of $13.43.

View Our Latest Stock Report on Joby Aviation

Joby Aviation Trading Up 0.7%

The company has a 50 day simple moving average of $14.55 and a 200 day simple moving average of $15.00. The stock has a market cap of $14.00 billion, a P/E ratio of -11.46 and a beta of 2.56.

Joby Aviation (NYSE:JOBYGet Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.29). The firm had revenue of $22.57 million for the quarter, compared to the consensus estimate of $0.02 million. The firm’s revenue was up 7962.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.21) EPS. As a group, sell-side analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Activity at Joby Aviation

In related news, insider Didier Papadopoulos sold 11,650 shares of Joby Aviation stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $13.51, for a total value of $157,391.50. Following the sale, the insider owned 120,147 shares of the company’s stock, valued at approximately $1,623,185.97. The trade was a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kate Dehoff sold 20,824 shares of the company’s stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $17.48, for a total value of $364,003.52. Following the sale, the insider owned 149,369 shares in the company, valued at $2,610,970.12. The trade was a 12.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 277,501 shares of company stock worth $4,004,816. Corporate insiders own 28.50% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

A number of institutional investors have recently added to or reduced their stakes in the company. Asset Planning Inc grew its position in shares of Joby Aviation by 70.0% in the 3rd quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock valued at $27,000 after acquiring an additional 700 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Joby Aviation by 284.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after purchasing an additional 1,880 shares during the last quarter. Canton Hathaway LLC acquired a new stake in Joby Aviation in the 3rd quarter valued at about $29,000. Strategic Advocates LLC acquired a new position in Joby Aviation during the third quarter worth approximately $29,000. Finally, Hilltop National Bank acquired a new position in Joby Aviation during the third quarter worth approximately $32,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Joby Aviation Company Profile

(Get Free Report)

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.

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