Joby Aviation (NYSE:JOBY) Shares Down 2.9% – What’s Next?

Shares of Joby Aviation, Inc. (NYSE:JOBY) traded down 2.9% during trading on Wednesday . The stock traded as low as $13.73 and last traded at $14.2950. 27,372,140 shares traded hands during trading, a decline of 0% from the average session volume of 27,439,244 shares. The stock had previously closed at $14.72.

Analyst Ratings Changes

Several brokerages recently issued reports on JOBY. JPMorgan Chase & Co. increased their price objective on Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Friday, October 31st. HC Wainwright restated a “neutral” rating on shares of Joby Aviation in a report on Monday, November 24th. Morgan Stanley raised their price objective on shares of Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, October 9th. Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price on shares of Joby Aviation in a research report on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Joby Aviation in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $13.43.

Joby Aviation Stock Down 2.9%

The firm has a 50-day moving average price of $14.48 and a two-hundred day moving average price of $15.33. The company has a market capitalization of $13.03 billion, a P/E ratio of -10.67 and a beta of 2.56.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.29). The firm had revenue of $22.57 million for the quarter, compared to the consensus estimate of $0.02 million. During the same period last year, the company posted ($0.21) EPS. The business’s quarterly revenue was up 7962.1% on a year-over-year basis. On average, analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Transactions at Joby Aviation

In related news, CEO Joeben Bevirt sold 23,552 shares of Joby Aviation stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $13.51, for a total value of $318,187.52. Following the completion of the transaction, the chief executive officer directly owned 288,814 shares of the company’s stock, valued at $3,901,877.14. The trade was a 7.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kate Dehoff sold 28,260 shares of the company’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $14.72, for a total transaction of $415,987.20. Following the transaction, the insider owned 149,369 shares in the company, valued at approximately $2,198,711.68. This trade represents a 15.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 289,556 shares of company stock worth $4,052,822. 32.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of JOBY. CWM LLC increased its stake in shares of Joby Aviation by 8.1% in the 2nd quarter. CWM LLC now owns 9,156 shares of the company’s stock valued at $97,000 after buying an additional 689 shares during the period. GPS Wealth Strategies Group LLC boosted its holdings in Joby Aviation by 22.5% in the third quarter. GPS Wealth Strategies Group LLC now owns 3,794 shares of the company’s stock valued at $61,000 after acquiring an additional 697 shares during the last quarter. Asset Planning Inc increased its position in Joby Aviation by 70.0% in the third quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock worth $27,000 after purchasing an additional 700 shares during the period. GoalVest Advisory LLC raised its holdings in Joby Aviation by 2.1% during the 4th quarter. GoalVest Advisory LLC now owns 33,500 shares of the company’s stock worth $442,000 after purchasing an additional 700 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in Joby Aviation by 4.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 16,705 shares of the company’s stock valued at $270,000 after purchasing an additional 736 shares during the period. Institutional investors and hedge funds own 52.85% of the company’s stock.

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.