JPMorgan Chase & Co. Issues Pessimistic Forecast for Joby Aviation (NYSE:JOBY) Stock Price

Joby Aviation (NYSE:JOBY) had its price objective cut by equities research analysts at JPMorgan Chase & Co. from $6.00 to $5.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 0.10% from the company’s previous close.

Other research analysts have also issued reports about the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Monday, September 30th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, October 2nd. Finally, Canaccord Genuity Group reduced their price objective on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research report on Tuesday.

Joby Aviation Stock Down 0.3 %

Shares of NYSE JOBY opened at $5.00 on Tuesday. The stock’s 50-day simple moving average is $5.32 and its two-hundred day simple moving average is $5.29. Joby Aviation has a twelve month low of $4.50 and a twelve month high of $7.69. The firm has a market capitalization of $3.58 billion, a P/E ratio of -10.19 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, hitting the consensus estimate of ($0.18). The company had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.28 million. During the same quarter last year, the company posted ($0.17) earnings per share. As a group, research analysts anticipate that Joby Aviation will post -0.69 EPS for the current fiscal year.

Insider Transactions at Joby Aviation

In related news, insider Gregory Bowles sold 26,775 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $5.14, for a total transaction of $137,623.50. Following the transaction, the insider now directly owns 18,035 shares in the company, valued at $92,699.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Joby Aviation news, insider Gregory Bowles sold 26,775 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $5.14, for a total transaction of $137,623.50. Following the completion of the sale, the insider now owns 18,035 shares of the company’s stock, valued at $92,699.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Didier Papadopoulos sold 6,025 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $253,036.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 525,499 shares of company stock worth $2,667,151. Company insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

A number of large investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its stake in Joby Aviation by 216.3% in the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after acquiring an additional 5,840 shares during the period. Sound Income Strategies LLC boosted its stake in shares of Joby Aviation by 3,311.3% during the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after purchasing an additional 10,000 shares in the last quarter. Integris Wealth Management LLC bought a new stake in shares of Joby Aviation during the 2nd quarter valued at about $54,000. Dakota Wealth Management purchased a new position in shares of Joby Aviation during the second quarter valued at about $56,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Joby Aviation in the second quarter worth about $57,000. 45.54% of the stock is currently owned by institutional investors.

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.