Joby Aviation, Inc. (NYSE:JOBY) Receives $13.64 Consensus PT from Brokerages

Joby Aviation, Inc. (NYSE:JOBY) has been assigned an average recommendation of “Reduce” from the eight analysts that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $13.6429.

Several research firms have recently issued reports on JOBY. Needham & Company LLC reissued a “buy” rating and set a $18.00 target price on shares of Joby Aviation in a research note on Wednesday, May 6th. Wall Street Zen raised Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Morgan Stanley dropped their price target on 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. Canaccord Genuity Group cut their price target on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a report on Thursday, May 7th. Finally, Weiss Ratings downgraded shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th.

Joby Aviation Trading Down 3.2%

Shares of NYSE:JOBY traded down $0.26 during midday trading on Friday, hitting $7.74. 31,203,729 shares of the stock traded hands, compared to its average volume of 41,416,940. The stock has a market capitalization of $7.61 billion, a PE ratio of -6.73 and a beta of 2.71. The business’s 50 day moving average is $9.87 and its two-hundred day moving average is $10.58. The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36. Joby Aviation has a one year low of $7.67 and a one year high of $20.95.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $20.17 million. During the same period last year, the firm earned ($0.11) earnings per share. As a group, research analysts forecast that Joby Aviation will post -0.83 earnings per share for the current year.

Insider Transactions at Joby Aviation

In related news, CEO Joeben Bevirt sold 15,788 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $8.92, for a total value of $140,828.96. Following the completion of the transaction, the chief executive officer directly owned 239,671 shares of the company’s stock, valued at $2,137,865.32. This represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kate Dehoff sold 9,575 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $8.92, for a total transaction of $85,409.00. Following the completion of the transaction, the insider directly owned 186,735 shares of the company’s stock, valued at approximately $1,665,676.20. The trade was a 4.88% 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. In the last 90 days, insiders sold 1,586,311 shares of company stock worth $16,371,324. 28.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in JOBY. Handelsbanken Fonder AB raised its position in shares of Joby Aviation by 43.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 217,426 shares of the company’s stock worth $1,939,000 after acquiring an additional 66,000 shares in the last quarter. 180 Wealth Advisors LLC boosted its position in shares of Joby Aviation by 13.5% during the second quarter. 180 Wealth Advisors LLC now owns 62,729 shares of the company’s stock valued at $560,000 after purchasing an additional 7,447 shares in the last quarter. CoreCap Advisors LLC grew its stake in Joby Aviation by 408.1% in the second quarter. CoreCap Advisors LLC now owns 8,292 shares of the company’s stock worth $74,000 after purchasing an additional 6,660 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in Joby Aviation in the first quarter worth $131,000. Finally, J. Derek Lewis & Associates Inc. bought a new position in Joby Aviation in the first quarter worth $121,000. Hedge funds and other institutional investors own 52.85% of the company’s stock.

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.