Joby Aviation (NYSE:JOBY) PT Lowered to $5.00

Joby Aviation (NYSE:JOBY) had its price objective cut by JPMorgan Chase & Co. from $6.00 to $5.00 in a report issued on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

JOBY has been the topic of a number of other reports. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, October 2nd. Canaccord Genuity Group decreased their price objective on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a report on Tuesday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a research note on Monday, September 30th.

Joby Aviation Price Performance

Joby Aviation stock opened at $5.01 on Tuesday. The company’s fifty day moving average price is $5.32 and its two-hundred day moving average price is $5.29. Joby Aviation has a one year low of $4.50 and a one year high of $7.69. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of -10.21 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.18). The company had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.28 million. During the same quarter in the previous year, the business posted ($0.17) EPS. As a group, sell-side analysts anticipate that Joby Aviation will post -0.69 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Didier Papadopoulos sold 6,025 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $5.33, for a total value of $32,113.25. Following the sale, the insider now directly owns 47,474 shares in the company, valued at approximately $253,036.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Didier Papadopoulos sold 6,025 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $5.33, for a total value of $32,113.25. Following the sale, the insider now owns 47,474 shares of the company’s stock, valued at approximately $253,036.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Matthew Field sold 5,643 shares of Joby Aviation stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $5.96, for a total transaction of $33,632.28. Following the transaction, the insider now directly owns 293,143 shares of the company’s stock, valued at $1,747,132.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 525,499 shares of company stock worth $2,667,151 over the last quarter. Company insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its stake in shares of Joby Aviation by 216.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after purchasing an additional 5,840 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in Joby Aviation by 3,311.3% in the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after buying an additional 10,000 shares during the period. Integris Wealth Management LLC bought a new position in Joby Aviation in the second quarter valued at approximately $54,000. Dakota Wealth Management acquired a new stake in Joby Aviation during the 2nd quarter worth $56,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Joby Aviation during the 2nd quarter worth $57,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

About Joby Aviation

Joby Aviation, Inc, a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.