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

Shares of Joby Aviation, Inc. (NYSE:JOBY) have been given a consensus rating of “Reduce” by the nine ratings firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $13.8125.

A number of research analysts recently issued reports on the company. Susquehanna set a $18.00 price target on Joby Aviation in a report on Thursday, August 6th. Wall Street Zen cut Joby Aviation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. HC Wainwright reissued a “buy” rating on shares of Joby Aviation in a research note on Thursday, August 6th. Morgan Stanley decreased their target price on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Finally, Weiss Ratings raised Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, CFO Rodrigo Brumana sold 78,489 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $11.30, for a total value of $886,925.70. Following the completion of the transaction, the chief financial officer directly owned 81,694 shares in the company, valued at approximately $923,142.20. This represents a 49.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Joeben Bevirt sold 15,788 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $8.92, for a total transaction of $140,828.96. Following the completion of the sale, the chief executive officer directly owned 239,671 shares of the company’s stock, valued at approximately $2,137,865.32. This represents a 6.18% 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 quarter, insiders sold 688,731 shares of company stock worth $7,513,560. 20.35% of the stock is owned by corporate insiders.

Institutional Trading of Joby Aviation

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Joby Aviation by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock valued at $692,851,000 after acquiring an additional 2,540,382 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Joby Aviation by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 11,790,532 shares of the company’s stock worth $155,671,000 after acquiring an additional 390,794 shares in the last quarter. State Street Corp raised its position in shares of Joby Aviation by 5.0% in the 4th quarter. State Street Corp now owns 10,812,929 shares of the company’s stock worth $142,731,000 after acquiring an additional 512,129 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Joby Aviation by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,370,983 shares of the company’s stock valued at $57,697,000 after purchasing an additional 271,475 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Joby Aviation by 41.2% in the 3rd quarter. Bank of America Corp DE now owns 4,192,109 shares of the company’s stock valued at $67,661,000 after purchasing an additional 1,223,412 shares during the period. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Joby Aviation Price Performance

JOBY stock opened at $7.56 on Monday. The stock has a market capitalization of $7.48 billion, a price-to-earnings ratio of -7.64 and a beta of 2.73. The firm’s 50-day moving average price is $8.19 and its two-hundred day moving average price is $9.20. The company has a current ratio of 17.98, a quick ratio of 17.98 and a debt-to-equity ratio of 0.40. Joby Aviation has a 12-month low of $6.63 and a 12-month high of $19.98.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). The firm had revenue of $38.64 million for the quarter, compared to analysts’ expectations of $30.20 million. Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%.The business’s revenue for the quarter was up 257493.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.41) earnings per share. As a group, equities analysts predict that Joby Aviation will post -1 earnings per share for the current year.

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.