Joby Aviation (NYSE:JOBY) Trading Down 4.8% – Time to Sell?

Joby Aviation, Inc. (NYSE:JOBY)’s share price dropped 4.8% on Monday . The company traded as low as $13.25 and last traded at $13.26. Approximately 14,016,629 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 25,344,895 shares. The stock had previously closed at $13.93.

Analyst Upgrades and Downgrades

JOBY has been the topic of several research reports. The Goldman Sachs Group began coverage on shares of Joby Aviation in a report on Monday, December 1st. They set a “sell” rating and a $10.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a research report on Thursday. Zacks Research raised 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 target price on shares of Joby Aviation in a research note on Thursday, November 6th. Finally, Morgan Stanley raised 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 investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $13.43.

Joby Aviation Stock Performance

The firm has a 50 day simple moving average of $14.45 and a 200-day simple moving average of $15.41.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The firm had revenue of $22.57 million for the quarter, compared to analyst estimates of $0.02 million. During the same quarter last year, the firm posted ($0.21) earnings per share. The business’s revenue was up 7962.1% compared to the same quarter last year. Equities analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Eric Allison sold 21,493 shares of Joby Aviation stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $14.84, for a total value of $318,956.12. Following the completion of the transaction, the insider owned 702,604 shares in the company, valued at approximately $10,426,643.36. The trade was a 2.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Didier Papadopoulos sold 6,429 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $15.84, for a total value of $101,835.36. Following the completion of the transaction, the insider directly owned 113,718 shares in the company, valued at approximately $1,801,293.12. This represents a 5.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 289,556 shares of company stock valued at $4,052,822. Insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in JOBY. Asset Planning Inc grew its holdings in Joby Aviation by 70.0% during the 3rd quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock worth $27,000 after acquiring an additional 700 shares during the last quarter. Strategic Advocates LLC bought a new stake in shares of Joby Aviation during the third quarter valued at approximately $29,000. Canton Hathaway LLC bought a new stake in shares of Joby Aviation during the third quarter valued at approximately $29,000. Hilltop National Bank acquired a new stake in shares of Joby Aviation in the third quarter valued at approximately $32,000. Finally, Ancora Advisors LLC bought a new position in Joby Aviation in the 3rd quarter worth approximately $35,000. 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.