Joby Aviation, Inc. (NYSE:JOBY) Stock Has Consensus Price Target of $12.72 According to Analysts

Shares of Joby Aviation, Inc. (NYSE:JOBY) have been given a consensus rating of “Reduce” by the ten analysts that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $12.39.

JOBY has been the topic of several analyst reports. Susquehanna set a $18.00 price target on shares of Joby Aviation in a research report on Thursday, August 6th. Barclays initiated coverage on shares of Joby Aviation in a research report on Friday, October 9th. They issued an “underweight” rating and a $4.00 price objective for the company. Needham & Company LLC decreased their price objective on shares of Joby Aviation from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Morgan Stanley lowered their price objective on shares of Joby Aviation from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Joby Aviation in a report on Monday, September 21st.

Insiders Place Their Bets

In related news, Director Paul Sciarra sold 62,500 shares of Joby Aviation stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $6.09, for a total transaction of $380,625.00. Following the completion of the transaction, the director owned 55,640,557 shares in the company, valued at approximately $338,850,992.13. This trade represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kate Dehoff sold 8,279 shares of the business’s stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $5.09, for a total value of $42,140.11. Following the transaction, the insider directly owned 196,964 shares in the company, valued at approximately $1,002,546.76. This trade represents a 4.03% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 955,128 shares of company stock worth $6,029,465 in the last three months. Insiders own 20.35% of the company’s stock.

Institutional Trading of Joby Aviation

Hedge funds have recently made changes to their positions in the business. AdvisorNet Financial Inc grew its stake in Joby Aviation by 117.9% in the 3rd quarter. AdvisorNet Financial Inc now owns 15,255 shares of the company’s stock valued at $92,000 after buying an additional 8,255 shares during the last quarter. Accel Wealth Management bought a new position in Joby Aviation in the 3rd quarter valued at about $64,000. Green Alpha Advisors LLC raised its holdings in Joby Aviation by 60.3% in the 3rd quarter. Green Alpha Advisors LLC now owns 66,654 shares of the company’s stock valued at $403,000 after acquiring an additional 25,086 shares during the period. Farther Finance Advisors LLC lifted its position in Joby Aviation by 60.7% during the third quarter. Farther Finance Advisors LLC now owns 36,572 shares of the company’s stock worth $221,000 after acquiring an additional 13,816 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its position in Joby Aviation by 116.4% during the second quarter. QRG Capital Management Inc. now owns 33,868 shares of the company’s stock worth $302,000 after acquiring an additional 18,219 shares during the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

Joby Aviation Stock Performance

NYSE:JOBY opened at $4.59 on Tuesday. Joby Aviation has a twelve month low of $4.43 and a twelve month high of $17.50. The stock’s 50 day moving average price is $6.47 and its two-hundred day moving average price is $8.17. The company has a quick ratio of 17.98, a current ratio of 17.98 and a debt-to-equity ratio of 0.40.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). Joby Aviation had a negative net margin of 755.11% and a negative return on equity of 55.29%. The company had revenue of $38.64 million during the quarter, compared to analyst estimates of $30.20 million. During the same period in the previous year, the company posted ($0.41) EPS. The company’s quarterly revenue was up 257493.3% compared to the same quarter last year. Analysts predict that Joby Aviation will post -1.00 EPS for the current year.

Joby Aviation Company Profile

Joby Aviation, Inc is an aerospace company developing all-electric vertical takeoff and landing (eVTOL) aircraft for commercial passenger transportation. Its aircraft are designed to take off and land vertically like a helicopter while operating with the range and speed of a conventional aircraft, supporting quiet, low-emission air taxi services and other urban and regional transportation applications.

Founded in 2009 by JoeBen Bevirt, Joby is pursuing the certification, production and commercial deployment of its piloted aircraft.