Joby Aviation (NYSE:JOBY) Trading Down 4.3% – What’s Next?

Shares of Joby Aviation, Inc. (NYSE:JOBY) traded down 4.3% during trading on Tuesday . The stock traded as low as $14.15 and last traded at $14.7530. 32,353,059 shares changed hands during trading, an increase of 9% from the average session volume of 29,584,594 shares. The stock had previously closed at $15.41.

Wall Street Analyst Weigh In

JOBY has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of Joby Aviation in a report on Monday, December 1st. They issued a “sell” rating and a $10.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Joby Aviation in a research note on Wednesday, October 8th. Zacks Research upgraded Joby Aviation from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Needham & Company LLC restated a “buy” rating and issued a $22.00 price target on shares of Joby Aviation in a report on Thursday, November 6th. Finally, HC Wainwright reissued a “neutral” rating on shares of Joby Aviation in a research report on Monday, November 24th. One equities 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 company. According to MarketBeat, Joby Aviation presently has an average rating of “Reduce” and a consensus price target of $13.43.

Joby Aviation Stock Performance

The company has a fifty day moving average price of $14.53 and a two-hundred day moving average price of $15.13. The company has a market cap of $13.45 billion, a P/E ratio of -11.01 and a beta of 2.56.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate 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. The business’s revenue was up 7962.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.21) earnings per share. Research analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insiders Place Their Bets

In other Joby Aviation news, insider Eric Allison sold 32,448 shares of the stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $13.25, for a total value of $429,936.00. Following the completion of the sale, the insider owned 659,980 shares in the company, valued at $8,744,735. This trade represents a 4.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bonny W. Simi sold 110,173 shares of Joby Aviation stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $13.85, for a total transaction of $1,525,896.05. Following the completion of the transaction, the insider directly owned 125,114 shares of the company’s stock, valued at approximately $1,732,828.90. This trade represents a 46.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 220,878 shares of company stock valued at $3,037,957 in the last ninety days. 32.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors and hedge funds have recently modified their holdings of JOBY. Defender Capital LLC. acquired a new stake in Joby Aviation in the 4th quarter valued at about $133,000. DAVENPORT & Co LLC acquired a new position in Joby Aviation during the fourth quarter worth approximately $146,000. Capital CS Group LLC bought a new stake in Joby Aviation in the fourth quarter valued at approximately $553,000. 180 Wealth Advisors LLC lifted its position in shares of Joby Aviation by 57.1% in the fourth quarter. 180 Wealth Advisors LLC now owns 18,797 shares of the company’s stock valued at $248,000 after buying an additional 6,831 shares during the last quarter. Finally, Green Alpha Advisors LLC bought a new position in shares of Joby Aviation during the 4th quarter worth approximately $554,000. 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.