Analysts Set Joby Aviation, Inc. (NYSE:JOBY) Price Target at $11.83

Joby Aviation, Inc. (NYSE:JOBY) has earned a consensus recommendation of “Reduce” from the eight ratings firms that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $12.00.

A number of research firms recently weighed in on JOBY. Canaccord Genuity Group lowered shares of Joby Aviation from a “buy” rating to a “hold” rating and upped their target price for the stock from $12.00 to $17.00 in a report on Thursday, August 7th. Morgan Stanley increased their price objective on Joby Aviation from $7.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 9th. Zacks Research lowered Joby Aviation from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. JPMorgan Chase & Co. lifted their target price on Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Friday. Finally, HC Wainwright downgraded Joby Aviation from a “buy” rating to a “neutral” rating in a report on Thursday, August 7th.

Joby Aviation Trading Up 4.8%

NYSE JOBY opened at $17.35 on Tuesday. The company has a market cap of $14.85 billion, a P/E ratio of -16.22 and a beta of 2.52. The company has a fifty day simple moving average of $15.66 and a 200 day simple moving average of $12.53. Joby Aviation has a 12-month low of $4.80 and a 12-month high of $20.95.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The business had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.05 million. The company’s quarterly revenue was down 94.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.18) earnings per share. Sell-side analysts predict that Joby Aviation will post -0.69 EPS for the current year.

Insider Transactions at Joby Aviation

In related news, insider Kate Dehoff sold 20,824 shares of the business’s stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $17.48, for a total transaction of $364,003.52. Following the transaction, the insider directly owned 149,369 shares in the company, valued at approximately $2,610,970.12. The trade was a 12.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Didier Papadopoulos sold 5,102 shares of the company’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $18.08, for a total transaction of $92,244.16. Following the completion of the sale, the insider directly owned 98,104 shares of the company’s stock, valued at $1,773,720.32. The trade was a 4.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,830,880 shares of company stock worth $28,060,985. 28.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently modified their holdings of the business. Asset Planning Inc increased its position in shares of Joby Aviation by 70.0% during the third quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock valued at $27,000 after acquiring an additional 700 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Joby Aviation by 284.8% in the 2nd 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. Canton Hathaway LLC purchased a new stake in shares of Joby Aviation during the 3rd quarter valued at $29,000. Hilltop National Bank purchased a new stake in shares of Joby Aviation during the 3rd quarter valued at $32,000. Finally, GPS Wealth Strategies Group LLC raised its stake in shares of Joby Aviation by 32.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock worth $33,000 after purchasing an additional 750 shares during the period. Hedge funds and other institutional investors own 52.85% of the company’s stock.

About Joby Aviation

Joby Aviation, Inc, a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.