Joby Aviation (NYSE:JOBY) Shares Down 2.6% – Time to Sell?

Joby Aviation, Inc. (NYSE:JOBY)’s share price was down 2.6% during trading on Friday . The company traded as low as $10.04 and last traded at $10.3650. Approximately 25,178,880 shares traded hands during trading, a decline of 9% from the average daily volume of 27,751,357 shares. The stock had previously closed at $10.64.

Analyst Ratings Changes

A number of equities analysts recently commented on JOBY shares. Oppenheimer set a $18.00 price target on Joby Aviation in a report on Thursday, February 26th. Morgan Stanley reduced their price target 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. Weiss Ratings cut Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Joby Aviation from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Joby Aviation has a consensus rating of “Reduce” and a consensus target price of $13.06.

Joby Aviation Trading Down 2.6%

The company has a market cap of $10.15 billion, a P/E ratio of -9.01 and a beta of 2.61. The business has a fifty day moving average price of $9.25 and a 200-day moving average price of $12.01. The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping 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 company had revenue of $24.25 million during the quarter, compared to analysts’ expectations of $20.17 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. On average, analysts forecast that Joby Aviation, Inc. will post -0.83 earnings per share for the current year.

Insider Activity at Joby Aviation

In related news, insider Didier Papadopoulos sold 3,394 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $8.76, for a total value of $29,731.44. Following the completion of the sale, the insider directly owned 144,284 shares in the company, valued at approximately $1,263,927.84. The trade was a 2.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Allison sold 74,844 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $10.00, for a total value of $748,440.00. Following the completion of the sale, the insider owned 676,008 shares of the company’s stock, valued at approximately $6,760,080. This trade represents a 9.97% 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. Over the last quarter, insiders have sold 1,252,276 shares of company stock valued at $11,852,787. Insiders own 28.50% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Institutional investors have recently made changes to their positions in the stock. Strategic Advocates LLC bought a new stake in shares of Joby Aviation in the third quarter valued at approximately $29,000. Fifth Third Bancorp boosted its stake in shares of Joby Aviation by 207.4% in the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock valued at $26,000 after buying an additional 1,348 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Joby Aviation in the fourth quarter valued at approximately $28,000. Ancora Advisors LLC bought a new stake in shares of Joby Aviation in the third quarter valued at approximately $35,000. Finally, Pandora Wealth Inc. bought a new stake in shares of Joby Aviation in the fourth quarter valued at approximately $32,000. 52.85% of the stock is currently owned by institutional investors.

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.