Joby Aviation (NYSE:JOBY) Stock Price Down 4.6% – Should You Sell?

Joby Aviation, Inc. (NYSE:JOBY)’s share price fell 4.6% on Monday . The stock traded as low as $14.08 and last traded at $14.1610. 15,271,071 shares were traded during mid-day trading, a decline of 42% from the average session volume of 26,385,756 shares. The stock had previously closed at $14.85.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Joby Aviation in a research note on Wednesday, October 8th. HC Wainwright reiterated a “neutral” rating on shares of Joby Aviation in a report on Monday, November 24th. The Goldman Sachs Group initiated coverage on Joby Aviation in a research note on Monday, December 1st. They set a “sell” rating and a $10.00 price objective on the stock. Morgan Stanley lifted their price objective on shares of Joby Aviation from $7.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, October 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $22.00 target price on shares of Joby Aviation in a report on Thursday, November 6th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $13.43.

Joby Aviation Trading Down 4.6%

The firm has a market capitalization of $12.91 billion, a price-to-earnings ratio of -10.57 and a beta of 2.53. The business has a 50-day moving average price of $15.55 and a two-hundred day moving average price of $14.27.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.29). The company had revenue of $22.57 million during the quarter, compared to analysts’ expectations of $0.02 million. Joby Aviation’s revenue was up 7962.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.21) EPS. On average, equities research analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Joby Aviation news, insider Kate Dehoff sold 20,824 shares of the company’s stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $17.48, for a total value of $364,003.52. Following the completion of the transaction, the insider owned 149,369 shares in the company, valued at approximately $2,610,970.12. This represents a 12.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Didier Papadopoulos sold 5,102 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $18.08, for a total transaction of $92,244.16. Following the completion of the sale, the insider owned 98,104 shares in the company, valued at $1,773,720.32. The trade was a 4.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 648,814 shares of company stock worth $10,607,650. 32.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of JOBY. Cetera Investment Advisers increased its holdings in shares of Joby Aviation by 44.3% during the first quarter. Cetera Investment Advisers now owns 55,229 shares of the company’s stock valued at $332,000 after purchasing an additional 16,953 shares during the period. LPL Financial LLC grew its position in Joby Aviation by 56.1% in the 1st quarter. LPL Financial LLC now owns 253,925 shares of the company’s stock valued at $1,529,000 after buying an additional 91,278 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Joby Aviation by 23.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,928 shares of the company’s stock valued at $90,000 after buying an additional 2,877 shares during the period. Swiss National Bank raised its position in shares of Joby Aviation by 5.3% during the 1st quarter. Swiss National Bank now owns 370,600 shares of the company’s stock worth $2,231,000 after buying an additional 18,500 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Joby Aviation by 16.1% in the 1st quarter. Invesco Ltd. now owns 972,517 shares of the company’s stock worth $5,855,000 after acquiring an additional 134,982 shares during the period. Institutional investors own 52.85% 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.