Joby Aviation (NYSE:JOBY) Sets New 12-Month Low – Should You Sell?

Joby Aviation, Inc. (NYSE:JOBY) shares hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $5.13 and last traded at $5.1450, with a volume of 25,036,014 shares traded. The stock had previously closed at $5.44.

Trending Headlines about Joby Aviation

Here are the key news stories impacting Joby Aviation this week:

• Positive Sentiment: Joby’s potential upside remains tied to regulatory approval for commercial air-taxi operations. The company has begun flights in Texas, exceeded recent revenue expectations and has a manufacturing relationship with Toyota. A favorable regulatory decision could materially improve the valuation. Joby Could Be Worth Far More If One Piece of the Puzzle Falls Into Place
• Positive Sentiment: Some analysts still see significant long-term value, with the reported average price target at $12.72, well above the recent trading level. However, that consensus masks a widening divide between bullish commercialization expectations and bearish execution concerns. Joby Aviation Stock Has Average Target Price of $12.72 According to Analysts
• Neutral Sentiment: Insiders Eric Allison and Kate Dehoff sold shares to cover tax-withholding obligations from vested equity awards. The transactions reduced their holdings, but were described as tax-related sales rather than discretionary dispositions, limiting their significance as a signal of management’s outlook. SEC Filing for Eric Allison
• Negative Sentiment: Barclays cut its price target from $6 to $4 and downgraded Joby to Underweight following an October legal verdict. The move reinforces investor concerns about valuation, execution and the implications of the verdict for Joby’s growth and defense-related opportunities. Joby Aviation Stock Gets Fair Value Trim As Analyst Views Split After Verdict
• Negative Sentiment: Commentary also highlights competition, financing needs and doubts over whether Joby’s factory can support its ambitious production plans. These concerns have outweighed optimism about future air-taxi demand and contributed to the stock reaching a new 12-month low. Why Barclays Doubts Joby’s Factory Can Keep Up

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a report on Monday, September 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Joby Aviation in a report on Monday. Wall Street Zen lowered shares of Joby Aviation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Barclays started coverage on shares of Joby Aviation in a research report on Friday, October 9th. They issued an “underweight” rating and a $4.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Joby Aviation in a report on Monday, September 21st. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $12.72.

Joby Aviation Trading Down 6.8%

The business has a 50-day moving average price of $6.70 and a 200-day moving average price of $8.24. The company has a current ratio of 17.98, a quick ratio of 17.98 and a debt-to-equity ratio of 0.40.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The company had revenue of $38.64 million for the quarter, compared to analysts’ expectations of $30.20 million. Joby Aviation had a negative net margin of 755.11% and a negative return on equity of 55.29%. The company’s revenue for the quarter was up 257493.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.41) earnings per share. Equities research analysts predict that Joby Aviation, Inc. will post -1.00 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO JoeBen Bevirt sold 606,667 shares of Joby Aviation stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $6.19, for a total value of $3,755,268.73. Following the transaction, the chief executive officer directly owned 57,207,377 shares of the company’s stock, valued at $354,113,663.63. This trade represents a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bonny Simi sold 10,890 shares of Joby Aviation stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $5.95, for a total transaction of $64,795.50. Following the completion of the transaction, the insider directly owned 241,923 shares in the company, valued at approximately $1,439,441.85. This trade represents a 4.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 955,128 shares of company stock valued at $6,029,465. Company insiders own 20.35% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Accel Wealth Management purchased a new position in Joby Aviation during the 3rd quarter valued at about $64,000. Green Alpha Advisors LLC increased its holdings in shares of Joby Aviation by 60.3% in the 3rd quarter. Green Alpha Advisors LLC now owns 66,654 shares of the company’s stock valued at $403,000 after purchasing an additional 25,086 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Joby Aviation by 60.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 36,572 shares of the company’s stock valued at $221,000 after purchasing an additional 13,816 shares during the period. QRG Capital Management Inc. increased its holdings in shares of Joby Aviation by 116.4% in the 2nd quarter. QRG Capital Management Inc. now owns 33,868 shares of the company’s stock valued at $302,000 after purchasing an additional 18,219 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Joby Aviation by 22.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 385,572 shares of the company’s stock valued at $3,439,000 after purchasing an additional 70,772 shares during the period. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Joby Aviation Company Profile

Joby Aviation, Inc (NYSE: JOBY) is an aviation company developing all-electric vertical takeoff and landing (eVTOL) aircraft for commercial passenger transportation. Its aircraft are designed to take off and land vertically like a helicopter while providing quieter, lower-emission transportation for short urban and regional trips.

The company is pursuing an integrated air-taxi business model that includes designing and manufacturing its aircraft, operating passenger services, and developing the software and infrastructure needed to support aerial mobility.