Joby Aviation (NYSE:JOBY) Stock Price Down 2.6% – What’s Next?

Shares of Joby Aviation, Inc. (NYSE:JOBY) fell 2.6% during mid-day trading on Thursday . The company traded as low as $7.23 and last traded at $7.40. 4,744,415 shares traded hands during trading, a decline of 64% from the average session volume of 13,122,309 shares. The stock had previously closed at $7.59.

Analysts Set New Price Targets

A number of analysts have weighed in on JOBY shares. HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, December 18th. JPMorgan Chase & Co. lowered Joby Aviation from a “neutral” rating to an “underweight” rating and boosted their price objective for the stock from $5.00 to $6.00 in a research report on Friday, January 10th. Canaccord Genuity Group increased their target price on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Needham & Company LLC boosted their price target on Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $9.30.

Joby Aviation Trading Down 1.9 %

The stock’s 50-day moving average price is $8.27 and its 200-day moving average price is $6.64. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of -10.61 and a beta of 2.33.

Insiders Place Their Bets

In related news, insider Didier Papadopoulos sold 6,005 shares of Joby Aviation stock in a transaction on Monday, December 16th. The shares were sold at an average price of $7.65, for a total value of $45,938.25. Following the completion of the sale, the insider now owns 54,776 shares of the company’s stock, valued at approximately $419,036.40. This trade represents a 9.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bonny W. Simi sold 31,489 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $8.33, for a total transaction of $262,303.37. Following the sale, the insider now owns 137,097 shares of the company’s stock, valued at $1,142,018.01. This trade represents a 18.68 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,023,005 shares of company stock worth $8,667,288. Company insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in JOBY. Larson Financial Group LLC lifted its position in Joby Aviation by 218.3% in the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after acquiring an additional 5,000 shares in the last quarter. Whittier Trust Co. bought a new position in shares of Joby Aviation in the fourth quarter valued at approximately $38,000. Salem Investment Counselors Inc. boosted its holdings in Joby Aviation by 5,000.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock worth $41,000 after acquiring an additional 5,000 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in Joby Aviation during the fourth quarter worth about $41,000. Finally, Toronto Dominion Bank bought a new stake in Joby Aviation in the 4th quarter worth about $41,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

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.