Joby Aviation, Inc. (NYSE:JOBY) Receives Consensus Rating of “Reduce” from Analysts

Joby Aviation, Inc. (NYSE:JOBY) has received a consensus recommendation of “Reduce” from the eight research firms that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $13.6429.

A number of research analysts recently weighed in on JOBY shares. Weiss Ratings raised shares of Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Canaccord Genuity Group reduced their target price on Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a report on Thursday, May 7th. Wall Street Zen raised Joby Aviation from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Morgan Stanley decreased their target price on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of Joby Aviation in a research note on Wednesday, May 6th.

Insider Buying and Selling

In other Joby Aviation news, insider Kate Dehoff sold 14,240 shares of Joby Aviation stock in a transaction on Tuesday, July 14th. The shares were sold at an average price of $7.73, for a total transaction of $110,075.20. Following the sale, the insider owned 180,179 shares of the company’s stock, valued at $1,392,783.67. The trade was a 7.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through 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, insider Eric Allison sold 74,844 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $10.00, for a total transaction of $748,440.00. Following the sale, the insider directly owned 676,008 shares of the company’s stock, valued at $6,760,080. The trade was a 9.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,125,580 shares of company stock worth $12,172,117 in the last ninety days. Company insiders own 20.35% of the company’s stock.

Institutional Trading of Joby Aviation

Several large investors have recently bought and sold shares of JOBY. Fifth Third Bancorp raised its holdings in Joby Aviation by 207.4% in the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock valued at $26,000 after acquiring an additional 1,348 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Joby Aviation by 284.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock worth $27,000 after purchasing an additional 1,880 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of Joby Aviation in the fourth quarter valued at approximately $28,000. Pandora Wealth Inc. purchased a new stake in shares of Joby Aviation in the fourth quarter valued at approximately $32,000. Finally, DV Equities LLC acquired a new stake in shares of Joby Aviation in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Joby Aviation Stock Performance

JOBY opened at $7.37 on Thursday. 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 company has a market cap of $7.25 billion, a price-to-earnings ratio of -6.41 and a beta of 2.73. Joby Aviation has a 52-week low of $6.63 and a 52-week high of $20.95. The firm’s fifty day simple moving average is $8.93 and its two-hundred day simple moving average is $9.75.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.09. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. The business had revenue of $24.25 million for the quarter, compared to analyst estimates of $20.17 million. During the same quarter last year, the business earned ($0.11) earnings per share. Equities analysts anticipate that Joby Aviation will post -0.89 earnings per share for the current fiscal year.

Joby Aviation Company Profile

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.