Joby Aviation (NYSE:JOBY) Shares Down 2.6% – Time to Sell?

Shares of Joby Aviation, Inc. (NYSE:JOBY) fell 2.6% during mid-day trading on Friday . The stock traded as low as $10.04 and last traded at $10.3650. 25,178,880 shares changed hands during mid-day trading, a decline of 9% from the average session volume of 27,751,357 shares. The stock had previously closed at $10.64.

Wall Street Analyst Weigh In

Several brokerages have commented on JOBY. Oppenheimer set a $18.00 price objective on shares of Joby Aviation in a research report on Thursday, February 26th. JPMorgan Chase & Co. lowered their price objective on shares of Joby Aviation from $8.00 to $7.00 and set an “underweight” rating for the company in a research report on Thursday, February 26th. Wall Street Zen upgraded shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a research report on Thursday, March 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $13.06.

Joby Aviation Stock Down 2.6%

The firm’s fifty day moving average price is $9.25 and its 200-day moving average price is $12.01. The company has a market capitalization of $10.15 billion, a price-to-earnings ratio of -9.01 and a beta of 2.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.09. The company had revenue of $24.25 million during the quarter, compared to the consensus estimate of $20.17 million. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. During the same period in the prior year, the business earned ($0.11) earnings per share. Sell-side analysts expect that Joby Aviation, Inc. will post -0.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Didier Papadopoulos sold 3,394 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $8.76, for a total value of $29,731.44. Following the completion of the sale, the insider directly owned 144,284 shares in the company, valued at $1,263,927.84. This represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Allison sold 74,844 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $10.00, for a total value of $748,440.00. Following the completion of the sale, the insider owned 676,008 shares of the company’s stock, valued at $6,760,080. The trade was a 9.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,252,276 shares of company stock valued at $11,852,787 over the last ninety days. 28.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Joby Aviation

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GPS Wealth Strategies Group LLC increased its holdings in Joby Aviation by 22.5% in the third 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. GoalVest Advisory LLC increased its holdings in Joby Aviation by 2.1% in the fourth 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 period. Thrivent Financial for Lutherans boosted its position in Joby Aviation by 4.6% during the third quarter. Thrivent Financial for Lutherans now owns 16,705 shares of the company’s stock valued at $270,000 after acquiring an additional 736 shares during the last quarter. Compagnie Lombard Odier SCmA boosted its position in Joby Aviation by 15.3% during the third quarter. Compagnie Lombard Odier SCmA now owns 5,765 shares of the company’s stock valued at $93,000 after acquiring an additional 765 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its position in Joby Aviation by 2.2% during the second quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company’s stock valued at $403,000 after acquiring an additional 821 shares during the last quarter. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Joby Aviation Company Profile

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.