Joby Aviation (NYSE:JOBY) Trading Down 4.4% – Here’s What Happened

Joby Aviation, Inc. (NYSE:JOBY)’s stock price fell 4.4% during trading on Friday . The company traded as low as $13.81 and last traded at $13.9070. 14,716,661 shares changed hands during trading, a decline of 44% from the average session volume of 26,090,805 shares. The stock had previously closed at $14.54.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Joby Aviation from $7.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a report on Wednesday, October 8th. HC Wainwright reaffirmed a “neutral” rating on shares of Joby Aviation in a report on Monday, November 24th. Zacks Research upgraded Joby Aviation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price on shares of Joby Aviation in a research note on Thursday, November 6th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Joby Aviation has an average rating of “Reduce” and an average price target of $13.43.

Joby Aviation Price Performance

The business’s 50 day simple moving average is $14.47 and its 200-day simple moving average is $15.33. The stock has a market capitalization of $12.68 billion, a P/E ratio of -10.38 and a beta of 2.56.

Joby Aviation (NYSE:JOBY) last issued its 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 business had revenue of $22.57 million for the quarter, compared to the consensus estimate of $0.02 million. The business’s revenue was up 7962.1% on a year-over-year basis. During the same period last year, the firm earned ($0.21) EPS. Research analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Joeben Bevirt sold 23,552 shares of the company’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $13.51, for a total value of $318,187.52. Following the completion of the sale, the chief executive officer directly owned 288,814 shares of the company’s stock, valued at $3,901,877.14. This represents a 7.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Eric Allison sold 21,493 shares of the stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $14.84, for a total transaction of $318,956.12. Following the completion of the sale, the insider owned 702,604 shares in the company, valued at $10,426,643.36. This represents a 2.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 289,556 shares of company stock valued at $4,052,822 in the last ninety days. 28.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of JOBY. CWM LLC grew its holdings in shares of Joby Aviation by 8.1% in the 2nd quarter. CWM LLC now owns 9,156 shares of the company’s stock valued at $97,000 after acquiring an additional 689 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its position in Joby Aviation by 22.5% during 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 last quarter. Asset Planning Inc boosted its position in Joby Aviation by 70.0% during the third 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 grew its stake 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 in the last quarter. Finally, Thrivent Financial for Lutherans increased its position 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 last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

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.