Joby Aviation (NYSE:JOBY) Sets New 1-Year Low – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY) hit a new 52-week low during trading on Thursday . The company traded as low as $7.41 and last traded at $7.4550, with a volume of 6409695 shares changing hands. The stock had previously closed at $7.76.

Analyst Ratings Changes

JOBY has been the subject of a number of research reports. Wall Street Zen raised Joby Aviation from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. 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. Canaccord Genuity Group lowered 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 report on Thursday, May 7th. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Joby Aviation in a research note on Wednesday, May 6th. Finally, Weiss Ratings raised shares of Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $13.64.

Joby Aviation Stock Performance

The stock has a market cap of $7.15 billion, a P/E ratio of -6.32 and a beta of 2.71. The company has a current ratio of 22.06, a quick ratio of 22.05 and a debt-to-equity ratio of 0.36. The stock has a 50 day simple moving average of $9.64 and a 200 day simple moving average of $10.35.

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

Insider Buying and Selling at Joby Aviation

In related news, insider Kate Dehoff sold 14,240 shares of the company’s stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of $7.73, for a total transaction of $110,075.20. Following the completion of the sale, the insider owned 180,179 shares of the company’s stock, valued at $1,392,783.67. This represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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. Also, insider Gregory Bowles sold 4,724 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $9.10, for a total transaction of $42,988.40. Following the completion of the transaction, the insider directly owned 188,936 shares in the company, valued at approximately $1,719,317.60. This represents a 2.44% decrease in their ownership of the stock. 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 1,125,580 shares of company stock valued at $12,172,117 over the last three months. 28.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its stake in Joby Aviation by 207.4% in the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock valued at $26,000 after purchasing an additional 1,348 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Joby Aviation by 284.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock worth $27,000 after buying an additional 1,880 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Joby Aviation during the fourth quarter worth $28,000. Pandora Wealth Inc. acquired a new position in shares of Joby Aviation during the fourth quarter worth $32,000. Finally, DV Equities LLC acquired a new position in shares of Joby Aviation during the fourth quarter worth $33,000. 52.85% of the stock is owned by institutional investors.

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.