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

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on JOBY shares. HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a research note on Thursday, March 12th. Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a research note on Wednesday, May 6th. Weiss Ratings lowered Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Oppenheimer set a $18.00 price objective on Joby Aviation in a research note on Thursday, February 26th. Finally, Wall Street Zen upgraded Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $13.06.

Joby Aviation Stock Performance

The company has a 50 day moving average price of $9.21 and a 200-day moving average price of $12.11. 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 company has a market cap of $10.28 billion, a P/E ratio of -9.13 and a beta of 2.61.

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

Insiders Place Their Bets

In other Joby Aviation news, CEO Joeben Bevirt sold 507,182 shares of Joby Aviation stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $9.91, for a total transaction of $5,026,173.62. Following the transaction, the chief executive officer directly owned 31,876,802 shares of the company’s stock, valued at approximately $315,899,107.82. The trade was a 1.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kate Dehoff sold 16,235 shares of Joby Aviation stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $9.91, for a total value of $160,888.85. Following the transaction, the insider directly owned 149,369 shares in the company, valued at $1,480,246.79. The trade was a 9.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,325,635 shares of company stock valued at $12,578,273. 28.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in JOBY. Fifth Third Bancorp raised its stake in Joby Aviation by 207.4% during the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock worth $26,000 after buying an additional 1,348 shares during the period. EverSource Wealth Advisors LLC raised its stake in 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 buying an additional 1,880 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Joby Aviation during the 4th quarter worth approximately $28,000. Strategic Advocates LLC acquired a new position in Joby Aviation during the 3rd quarter worth approximately $29,000. Finally, Pandora Wealth Inc. acquired a new position in Joby Aviation during the 4th quarter worth approximately $32,000. 52.85% of the stock is owned by institutional investors and hedge funds.

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.