Joby Aviation (NYSE:JOBY) Stock Price Down 2.7% – What’s Next?

Shares of Joby Aviation, Inc. (NYSE:JOBY) traded down 2.7% on Monday . The company traded as low as $13.48 and last traded at $13.5080. 16,183,088 shares were traded during trading, a decline of 38% from the average session volume of 26,015,539 shares. The stock had previously closed at $13.88.

Analysts Set New Price Targets

Several brokerages have commented on JOBY. Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Joby Aviation in a research report on Thursday, November 6th. Zacks Research raised shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. lifted their price target on shares of Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Friday, October 31st. HC Wainwright restated a “neutral” rating on shares of Joby Aviation in a report on Monday, November 24th. Finally, Morgan Stanley boosted their target price on Joby Aviation from $7.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $13.43.

Joby Aviation Stock Down 2.7%

The firm has a market cap of $12.32 billion, a price-to-earnings ratio of -10.08 and a beta of 2.53. The firm has a fifty day moving average price of $14.90 and a 200-day moving average price of $14.68.

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 for the quarter, compared to analysts’ expectations of $0.02 million. The business’s revenue was up 7962.1% compared to the same quarter last year. During the same period last year, the business earned ($0.21) earnings per share. Equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Didier Papadopoulos sold 15,439 shares of Joby Aviation stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $16.78, for a total value of $259,066.42. Following the transaction, the insider directly owned 103,206 shares of the company’s stock, valued at $1,731,796.68. The trade was a 13.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Bonny W. Simi sold 8,272 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $16.78, for a total transaction of $138,804.16. Following the sale, the insider directly owned 219,206 shares of the company’s stock, valued at approximately $3,678,276.68. This trade represents a 3.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 588,994 shares of company stock worth $9,660,128. Corporate insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

A number of institutional investors and hedge funds have recently modified their holdings of JOBY. Asset Planning Inc grew its holdings in Joby Aviation by 70.0% in the 3rd quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock worth $27,000 after buying an additional 700 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Joby Aviation by 284.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after purchasing an additional 1,880 shares during the last quarter. Canton Hathaway LLC acquired a new stake in shares of Joby Aviation during the 3rd quarter valued at $29,000. Strategic Advocates LLC acquired a new position in shares of Joby Aviation in the 3rd quarter valued at $29,000. Finally, Hilltop National Bank purchased a new position in shares of Joby Aviation in the third quarter worth approximately $32,000. 52.85% of the stock is owned by institutional investors and hedge funds.

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.