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

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

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

Joby Aviation Stock Up 0.8%

Joby Aviation stock opened at $7.99 on Friday. The company has a market cap of $7.86 billion, a P/E ratio of -6.95 and a beta of 2.71. The company has a fifty day simple moving average of $9.89 and a 200 day simple moving average of $10.60. The company has a current ratio of 22.06, a quick ratio of 22.05 and a debt-to-equity ratio of 0.36. Joby Aviation has a 1-year low of $7.75 and a 1-year high of $20.95.

Joby Aviation (NYSE:JOBY) last released 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. The business had revenue of $24.25 million for the quarter, compared to analyst estimates of $20.17 million. Joby Aviation had a negative return on equity of 60.54% and a negative net margin of 1,232.62%.During the same quarter in the prior year, the company posted ($0.11) earnings per share. Research analysts anticipate that Joby Aviation will post -0.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, insider Bonny W. Simi sold 7,832 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 transaction of $69,861.44. Following the sale, the insider directly owned 231,687 shares in the company, valued at $2,066,648.04. This represents a 3.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $9.10, for a total transaction of $42,988.40. Following the sale, the insider owned 188,936 shares in the company, valued at $1,719,317.60. This represents a 2.44% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold a total of 1,586,311 shares of company stock valued at $16,371,324 over the last ninety days. 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 bought and sold shares of the business. GoalVest Advisory LLC grew its stake in shares of Joby Aviation by 2.1% during the fourth quarter. GoalVest Advisory LLC now owns 33,500 shares of the company’s stock worth $442,000 after buying an additional 700 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in Joby Aviation by 2.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company’s stock worth $403,000 after purchasing an additional 821 shares during the last quarter. Signaturefd LLC lifted its holdings in Joby Aviation by 8.4% in the fourth quarter. Signaturefd LLC now owns 11,218 shares of the company’s stock valued at $148,000 after buying an additional 872 shares during the period. CIBC Private Wealth Group LLC lifted its stake in shares of Joby Aviation by 38.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,256 shares of the company’s stock valued at $56,000 after purchasing an additional 1,188 shares during the period. Finally, Strs Ohio increased its holdings in Joby Aviation by 2.5% in the first quarter. Strs Ohio now owns 50,000 shares of the company’s stock worth $413,000 after purchasing an additional 1,200 shares in the last quarter. 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.