Joby Aviation (NYSE:JOBY) Sets New 52-Week Low – Should You Sell?

Joby Aviation, Inc. (NYSE:JOBY) reached a new 52-week low during trading on Thursday . The company traded as low as $7.41 and last traded at $7.4550, with a volume of 6409695 shares changing hands. The stock had previously closed at $7.76.

Analyst Ratings Changes

JOBY has been the subject of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Joby Aviation in a research note on Wednesday, May 6th. Wall Street Zen upgraded Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Weiss Ratings raised shares of Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Canaccord Genuity Group cut their price objective on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a research report on Thursday, May 7th. Finally, Morgan Stanley reduced their price objective on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $13.64.

Joby Aviation Price Performance

The firm has a market cap of $7.28 billion, a PE ratio of -6.44 and a beta of 2.71. The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average price of $9.76 and a two-hundred day moving average price of $10.42.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate 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 net margin of 1,232.62% and a negative return on equity of 60.54%. During the same period last year, the firm posted ($0.11) EPS. As a group, equities analysts expect that Joby Aviation, Inc. will post -0.83 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Kate Dehoff sold 14,240 shares of the company’s stock in a transaction on Tuesday, July 14th. The stock was sold at an average price of $7.73, for a total value of $110,075.20. Following the transaction, the insider directly owned 180,179 shares of the company’s stock, valued at $1,392,783.67. This represents a 7.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Rodrigo Brumana sold 78,489 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $11.30, for a total value of $886,925.70. Following the completion of the transaction, the chief financial officer owned 81,694 shares of the company’s stock, valued at $923,142.20. This trade represents a 49.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,125,580 shares of company stock valued at $12,172,117. Corporate insiders own 28.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. GoalVest Advisory LLC raised its stake in shares of Joby Aviation by 2.1% during the 4th quarter. GoalVest Advisory LLC now owns 33,500 shares of the company’s stock worth $442,000 after buying an additional 700 shares during the period. EP Wealth Advisors LLC raised its position in Joby Aviation by 2.2% during the second quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company’s stock worth $403,000 after acquiring an additional 821 shares during the period. Signaturefd LLC increased its stake in shares of Joby Aviation by 8.4% during the fourth quarter. Signaturefd LLC now owns 11,218 shares of the company’s stock worth $148,000 after purchasing an additional 872 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Joby Aviation by 38.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,256 shares of the company’s stock worth $56,000 after purchasing an additional 1,188 shares in the last quarter. Finally, Strs Ohio raised its position in shares of Joby Aviation by 2.5% during the 1st quarter. Strs Ohio now owns 50,000 shares of the company’s stock worth $413,000 after purchasing an additional 1,200 shares during the last quarter. 52.85% of the stock is currently owned by hedge funds and other 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.