Joby Aviation (NYSE:JOBY) Shares Down 1.7% – Should You Sell?

Joby Aviation, Inc. (NYSE:JOBY) was down 1.7% on Thursday . The company traded as low as $6.25 and last traded at $6.3130. 31,097,353 shares were traded during trading, a decline of 3% from the average session volume of 32,020,365 shares. The stock had previously closed at $6.42.

Joby Aviation News Roundup

Here are the key news stories impacting Joby Aviation this week:

• Positive Sentiment: Joby has begun FAA-backed eVTOL demonstration and air-taxi flights in Texas under the agency’s eIPP program. The tests are an important step toward commercial operations and could support the company’s certification timeline. Joby Begins eVTOL Demo Flights In Texas Under FAA’s eIPP
• Positive Sentiment: Joby launched a month-long, 10-state demonstration tour for its autonomous J208 aircraft. The tour is intended to showcase the technology’s readiness for real-world use and broaden public and investor awareness. Joby Aviation Begins Autonomous Cross-Country Tour
• Positive Sentiment: The company is preparing for commercial flights in Dubai, while its Blade air-mobility business reportedly doubled seats sold year over year and experienced demand exceeding available aircraft capacity. These developments offer evidence of potential demand beyond the aircraft program. Is Joby Aviation a Buy Now?
• Neutral Sentiment: Joby filed a prospectus supplement enabling Strata Critical to resell approximately 2.42 million shares, or about 0.24% of outstanding stock. Joby will not receive proceeds, making the immediate financial impact limited, though the filing may add trading attention and a modest supply overhang. Joby Aviation Enables Resale of Milestone-Based Equity
• Negative Sentiment: Despite the Texas and Dubai milestones, Joby continues to lose substantial amounts of money and has yet to secure full FAA certification. Jim Cramer reiterated that he would not invest because of the company’s losses, reinforcing skepticism toward the speculative stock. Jim Cramer on Joby Aviation

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. HC Wainwright reissued a “buy” rating on shares of Joby Aviation in a research report on Thursday, August 6th. Weiss Ratings upgraded Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Susquehanna set a $18.00 price objective on shares of Joby Aviation in a research note on Thursday, August 6th. Needham & Company LLC dropped their target price on shares of Joby Aviation from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Finally, Barclays raised shares of Joby Aviation to a “hold” rating in a research report on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Joby Aviation presently has an average rating of “Reduce” and an average price target of $13.81.

Joby Aviation Price Performance

The company has a current ratio of 17.98, a quick ratio of 17.98 and a debt-to-equity ratio of 0.40. The firm has a market cap of $6.32 billion, a P/E ratio of -6.45 and a beta of 2.68. The firm has a 50-day simple moving average of $7.48 and a 200-day simple moving average of $8.86.

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

Insider Buying and Selling

In other news, insider Kate Dehoff sold 14,240 shares of the firm’s stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of $7.73, for a total value of $110,075.20. Following the sale, the insider directly owned 180,179 shares in the company, valued at approximately $1,392,783.67. This trade represents a 7.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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, CEO JoeBen Bevirt sold 15,788 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were 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 owned 239,671 shares in the company, valued at $2,137,865.32. This represents a 6.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 306,309 shares of company stock valued at $2,359,442 over the last three months. Corporate insiders own 20.35% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

Institutional investors and hedge funds have recently bought and sold shares of the company. EP Wealth Advisors LLC lifted its holdings in shares of Joby Aviation by 2.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company’s stock valued at $403,000 after purchasing an additional 821 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in Joby Aviation by 38.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,256 shares of the company’s stock worth $56,000 after buying an additional 1,188 shares during the last quarter. Strs Ohio increased its position in Joby Aviation by 2.5% during the 1st quarter. Strs Ohio now owns 50,000 shares of the company’s stock valued at $413,000 after buying an additional 1,200 shares in the last quarter. Scotia Capital Inc. increased its position in Joby Aviation by 8.1% during the 3rd quarter. Scotia Capital Inc. now owns 16,663 shares of the company’s stock valued at $269,000 after buying an additional 1,250 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in Joby Aviation by 23.3% in the third quarter. Parallel Advisors LLC now owns 6,845 shares of the company’s stock valued at $110,000 after buying an additional 1,295 shares during the last quarter. 52.85% of the stock is owned by hedge funds and other institutional investors.

Joby Aviation Company Profile

Joby Aviation, Inc develops electric vertical takeoff and landing (eVTOL) aircraft intended to support commercial air-taxi services. Its aircraft are designed to take off and land vertically like helicopters while traveling with the speed and range of conventional aircraft, with the goal of providing quieter, lower-emission transportation for urban and regional journeys.

The company is pursuing an integrated business model that includes designing and manufacturing its aircraft, operating air-taxi services, and providing related technology and infrastructure.