Joby Aviation (NYSE:JOBY) Stock Price Down 2.3% – Time to Sell?

Shares of Joby Aviation, Inc. (NYSE:JOBY) traded down 2.3% on Tuesday . The company traded as low as $10.07 and last traded at $10.4950. 27,861,902 shares were traded during trading, an increase of 1% from the average session volume of 27,715,150 shares. The stock had previously closed at $10.74.

Analyst Ratings Changes

A number of analysts have commented on JOBY shares. Weiss Ratings lowered Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. JPMorgan Chase & Co. decreased their price objective on Joby Aviation from $8.00 to $7.00 and set an “underweight” rating for the company in a report on Thursday, February 26th. Wall Street Zen raised Joby Aviation from a “strong sell” rating to a “sell” rating in a report on Sunday. HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a report on Thursday, March 12th. Finally, Morgan Stanley decreased their price objective on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $13.06.

Joby Aviation Price Performance

The company has a current ratio of 22.06, a quick ratio of 22.05 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $9.21 and a 200 day simple moving average of $12.11. The stock has a market capitalization of $10.28 billion, a P/E ratio of -9.13 and a beta of 2.61.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. The firm had revenue of $24.25 million during the quarter, compared to analyst estimates of $20.17 million. Joby Aviation had a negative return on equity of 60.54% and a negative net margin of 1,232.62%.During the same period in the previous year, the company posted ($0.11) EPS. On average, analysts expect that Joby Aviation, Inc. will post -0.85 earnings per share for the current year.

Insider Activity

In other news, insider Kate Dehoff sold 16,235 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $9.91, for a total value of $160,888.85. Following the completion of the transaction, the insider directly owned 149,369 shares of the company’s stock, valued at $1,480,246.79. This represents a 9.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Eric Allison sold 74,844 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $10.00, for a total value of $748,440.00. Following the completion of the transaction, the insider directly owned 676,008 shares of the company’s stock, valued at approximately $6,760,080. This represents a 9.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,325,635 shares of company stock valued at $12,578,273 over the last three months. Corporate insiders own 28.50% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors have recently modified their holdings of the business. Fifth Third Bancorp lifted its position in shares of Joby Aviation by 207.4% during the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock worth $26,000 after acquiring an additional 1,348 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Joby Aviation by 284.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock worth $27,000 after acquiring an additional 1,880 shares in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of Joby Aviation during the fourth quarter worth $28,000. Strategic Advocates LLC purchased a new stake in shares of Joby Aviation during the third quarter worth $29,000. Finally, Pandora Wealth Inc. purchased a new stake in shares of Joby Aviation during the fourth quarter worth $32,000. 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.