Joby Aviation, Inc. (NYSE:JOBY) Receives Consensus Rating of “Reduce” from Analysts

Joby Aviation, Inc. (NYSE:JOBY) has been given an average rating of “Reduce” by the nine analysts that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $13.0625.

A number of equities analysts have commented on the stock. 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. Weiss Ratings cut shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Morgan Stanley decreased their price target on shares of 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. HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a research note on Thursday, March 12th. Finally, Canaccord Genuity Group decreased their price target on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a research note on Thursday, May 7th.

Insider Buying and Selling at Joby Aviation

In other news, CEO Joeben Bevirt sold 421,019 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $10.38, for a total transaction of $4,370,177.22. Following the sale, the chief executive officer directly owned 31,678,802 shares of the company’s stock, valued at $328,825,964.76. This represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Didier Papadopoulos sold 3,394 shares of the stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $8.76, for a total transaction of $29,731.44. Following the sale, the insider directly owned 144,284 shares in the company, valued at $1,263,927.84. This trade represents a 2.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,096,111 shares of company stock valued at $10,504,153 over the last three months. Insiders own 28.50% of the company’s stock.

Institutional Trading of Joby Aviation

Several hedge funds have recently modified their holdings of JOBY. Fifth Third Bancorp lifted its holdings in Joby Aviation by 207.4% in the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock valued at $26,000 after buying an additional 1,348 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in 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 buying an additional 1,880 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Joby Aviation in the fourth quarter valued at approximately $28,000. Strategic Advocates LLC acquired a new position in Joby Aviation in the third quarter valued at approximately $29,000. Finally, Pandora Wealth Inc. acquired a new position in Joby Aviation in the fourth quarter valued at approximately $32,000. 52.85% of the stock is owned by institutional investors.

Joby Aviation Price Performance

NYSE:JOBY opened at $10.05 on Friday. The firm has a market cap of $9.88 billion, a PE ratio of -8.74 and a beta of 2.61. Joby Aviation has a 12 month low of $6.42 and a 12 month high of $20.95. The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $9.29 and its two-hundred day moving average price is $11.83.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.09. The firm had revenue of $24.25 million for the quarter, compared to analyst estimates of $20.17 million. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. During the same period in the previous year, the business earned ($0.11) earnings per share. On average, equities analysts anticipate that Joby Aviation will post -0.83 EPS for the current fiscal year.

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.