Joby Aviation (NYSE:JOBY) Reaches New 1-Year Low – Time to Sell?

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

Analyst Upgrades and Downgrades

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

Joby Aviation Stock Down 4.6%

The company has a debt-to-equity ratio of 0.36, a quick ratio of 22.05 and a current ratio of 22.06. The company’s fifty day moving average price is $9.76 and its 200-day moving average price is $10.42. The stock has a market cap of $7.28 billion, a P/E ratio of -6.44 and a beta of 2.71.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $24.25 million for the quarter, compared to analyst estimates of $20.17 million. During the same period in the prior year, the company posted ($0.11) EPS. Equities analysts forecast that Joby Aviation, Inc. will post -0.83 EPS for the current year.

Insider Transactions at Joby Aviation

In related news, insider Eric Allison sold 27,932 shares of the firm’s stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $7.53, for a total transaction of $210,327.96. Following the completion of the sale, the insider directly owned 710,396 shares of the company’s stock, valued at approximately $5,349,281.88. This trade represents a 3.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Gregory Bowles sold 4,724 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $9.10, for a total value of $42,988.40. Following the transaction, the insider owned 188,936 shares of the company’s stock, valued at approximately $1,719,317.60. The trade was a 2.44% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last 90 days, insiders sold 1,125,580 shares of company stock valued at $12,172,117. Company insiders own 28.50% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp increased its position in shares of Joby Aviation by 207.4% during the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock worth $26,000 after acquiring an additional 1,348 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Joby Aviation by 284.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after purchasing an additional 1,880 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Joby Aviation during the 4th quarter valued at $28,000. Strategic Advocates LLC purchased a new stake in shares of Joby Aviation in the 3rd quarter worth $29,000. Finally, Pandora Wealth Inc. purchased a new stake in shares of Joby Aviation in the 4th quarter worth $32,000. Institutional investors own 52.85% of the company’s stock.

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.