Joby Aviation (NYSE:JOBY) Trading Down 5.2% – Time to Sell?

Joby Aviation, Inc. (NYSE:JOBY)’s share price fell 5.2% during mid-day trading on Tuesday . The company traded as low as $14.59 and last traded at $14.6320. 23,833,573 shares changed hands during trading, a decline of 13% from the average session volume of 27,430,865 shares. The stock had previously closed at $15.43.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Friday, October 31st. HC Wainwright reissued a “neutral” rating on shares of Joby Aviation in a research report on Monday, November 24th. The Goldman Sachs Group began coverage on Joby Aviation in a research note on Monday, December 1st. They issued a “sell” rating and a $10.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Joby Aviation in a research note on Wednesday, October 8th. Finally, Zacks Research raised Joby Aviation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $13.43.

Joby Aviation Trading Down 5.2%

The business has a fifty day simple moving average of $14.52 and a 200 day simple moving average of $15.34. The stock has a market capitalization of $13.34 billion, a P/E ratio of -10.92 and a beta of 2.56.

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

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, insider Didier Papadopoulos sold 11,650 shares of Joby Aviation stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $13.51, for a total transaction of $157,391.50. Following the transaction, the insider directly owned 120,147 shares of the company’s stock, valued at $1,623,185.97. The trade was a 8.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric Allison sold 32,448 shares of the stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $13.25, for a total transaction of $429,936.00. Following the completion of the sale, the insider owned 659,980 shares of the company’s stock, valued at approximately $8,744,735. This represents a 4.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 289,556 shares of company stock worth $4,052,822. 32.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors have recently modified their holdings of the business. CWM LLC increased its position in shares of Joby Aviation by 8.1% during the second quarter. CWM LLC now owns 9,156 shares of the company’s stock valued at $97,000 after acquiring an additional 689 shares during the last quarter. GPS Wealth Strategies Group LLC grew its stake in Joby Aviation by 22.5% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 3,794 shares of the company’s stock valued at $61,000 after purchasing an additional 697 shares during the period. Asset Planning Inc increased its position in shares of Joby Aviation by 70.0% during the 3rd quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock valued at $27,000 after purchasing an additional 700 shares during the last quarter. GoalVest Advisory LLC increased its position in shares of Joby Aviation by 2.1% during the 4th quarter. GoalVest Advisory LLC now owns 33,500 shares of the company’s stock valued at $442,000 after purchasing an additional 700 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Joby Aviation by 4.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 16,705 shares of the company’s stock worth $270,000 after purchasing an additional 736 shares during the period. 52.85% of the stock is owned by institutional investors.

About Joby Aviation

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.