Joby Aviation (NYSE:JOBY) Price Target Lowered to $5.00 at JPMorgan Chase & Co.

Joby Aviation (NYSE:JOBY) had its target price trimmed by JPMorgan Chase & Co. from $6.00 to $5.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

Several other research firms have also weighed in on JOBY. Canaccord Genuity Group increased their price objective on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Needham & Company LLC restated a “buy” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Thursday. Finally, HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $8.90.

Joby Aviation Stock Performance

NYSE:JOBY opened at $6.77 on Thursday. Joby Aviation has a one year low of $4.50 and a one year high of $10.72. The company has a market capitalization of $5.18 billion, a price-to-earnings ratio of -9.66 and a beta of 2.33. The stock has a 50-day simple moving average of $8.16 and a 200 day simple moving average of $6.71.

Insider Activity

In other Joby Aviation news, insider Didier Papadopoulos sold 6,005 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $7.65, for a total value of $45,938.25. Following the completion of the sale, the insider now directly owns 54,776 shares in the company, valued at $419,036.40. This represents a 9.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joeben Bevirt sold 10,785 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $7.43, for a total value of $80,132.55. Following the completion of the sale, the chief executive officer now owns 793,036 shares of the company’s stock, valued at approximately $5,892,257.48. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,018,699 shares of company stock valued at $8,628,124. Company insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of JOBY. Whittier Trust Co. acquired a new position in shares of Joby Aviation in the 4th quarter worth $38,000. Allworth Financial LP lifted its stake in Joby Aviation by 200.6% during the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock valued at $44,000 after buying an additional 3,320 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of Joby Aviation in the fourth quarter worth approximately $41,000. Toronto Dominion Bank acquired a new stake in shares of Joby Aviation during the fourth quarter valued at approximately $41,000. Finally, Carolinas Wealth Consulting LLC acquired a new position in Joby Aviation in the 4th quarter worth approximately $41,000. Institutional investors own 52.85% of the company’s stock.

Joby Aviation Company Profile

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.