Joby Aviation, Inc. (NYSE:JOBY) Receives $10.50 Consensus Price Target from Brokerages

Shares of Joby Aviation, Inc. (NYSE:JOBY) have been assigned a consensus rating of “Hold” from the six analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $10.50.

JOBY has been the subject of several research reports. JPMorgan Chase & Co. raised their price target on Joby Aviation from $5.00 to $7.00 and gave the company an “underweight” rating in a report on Friday, August 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $9.00 price target on shares of Joby Aviation in a report on Monday, June 23rd. Wall Street Zen downgraded Joby Aviation from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. HC Wainwright downgraded Joby Aviation from a “buy” rating to a “neutral” rating in a report on Thursday, August 7th. Finally, Canaccord Genuity Group downgraded Joby Aviation from a “buy” rating to a “hold” rating and raised their price target for the company from $12.00 to $17.00 in a report on Thursday, August 7th.

Insider Activity at Joby Aviation

In other news, insider Bonny W. Simi sold 173,456 shares of Joby Aviation stock in a transaction on Friday, August 8th. The stock was sold at an average price of $17.25, for a total transaction of $2,992,116.00. Following the completion of the sale, the insider owned 211,397 shares of the company’s stock, valued at approximately $3,646,598.25. This trade represents a 45.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Didier Papadopoulos sold 5,102 shares of Joby Aviation stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $10.28, for a total value of $52,448.56. Following the sale, the insider directly owned 84,953 shares of the company’s stock, valued at $873,316.84. This represents a 5.67% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,933,156 shares of company stock valued at $21,528,877. 28.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC increased its position in shares of Joby Aviation by 8.1% in the second quarter. CWM LLC now owns 9,156 shares of the company’s stock worth $97,000 after purchasing an additional 689 shares during the period. GPS Wealth Strategies Group LLC increased its position in shares of Joby Aviation by 32.0% in the second quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock worth $33,000 after purchasing an additional 750 shares during the period. Allworth Financial LP increased its position in shares of Joby Aviation by 11.9% in the second quarter. Allworth Financial LP now owns 7,197 shares of the company’s stock worth $76,000 after purchasing an additional 763 shares during the period. Flagship Harbor Advisors LLC increased its position in shares of Joby Aviation by 2.6% in the second quarter. Flagship Harbor Advisors LLC now owns 31,726 shares of the company’s stock worth $335,000 after purchasing an additional 800 shares during the period. Finally, EP Wealth Advisors LLC increased its position in shares of Joby Aviation by 2.2% in the second quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company’s stock worth $403,000 after purchasing an additional 821 shares during the period. Institutional investors and hedge funds own 52.85% of the company’s stock.

Joby Aviation Trading Down 0.9%

NYSE JOBY opened at $14.7140 on Thursday. The company has a market cap of $12.59 billion, a PE ratio of -13.75 and a beta of 2.52. Joby Aviation has a 12 month low of $4.70 and a 12 month high of $20.95. The stock has a 50 day moving average of $13.81 and a 200-day moving average of $9.23.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.06). Joby Aviation had a negative net margin of 447,083.78% and a negative return on equity of 71.29%. The company had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.05 million. During the same period in the previous year, the company posted ($0.18) EPS. The company’s quarterly revenue was down 94.6% compared to the same quarter last year. As a group, sell-side analysts predict that Joby Aviation will post -0.69 EPS for the current fiscal year.

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.