Joby Aviation, Inc. (NYSE:JOBY) Receives Average Recommendation of “Reduce” from Analysts

Shares of Joby Aviation, Inc. (NYSE:JOBY) have been assigned a consensus rating of “Reduce” from the nine research firms that are covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $13.0625.

Several research firms recently commented on JOBY. Oppenheimer set a $18.00 price target on shares of Joby Aviation in a research note on Thursday, February 26th. Wall Street Zen raised shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of Joby Aviation in a research note on Wednesday, May 6th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Joby Aviation in a research note on Thursday, March 12th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Joby Aviation from $8.00 to $7.00 and set an “underweight” rating on the stock in a report on Thursday, February 26th.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Eric Allison sold 74,844 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $10.00, for a total transaction of $748,440.00. Following the transaction, the insider directly owned 676,008 shares in the company, valued at $6,760,080. This represents a 9.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Cahill Sciarra sold 416,666 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $12.02, for a total transaction of $5,008,325.32. Following the transaction, the director owned 55,911,391 shares in the company, valued at approximately $672,054,919.82. The trade was a 0.74% 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. Insiders sold 1,566,838 shares of company stock worth $16,167,306 over the last quarter. Corporate insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC bought a new position in Joby Aviation during the 1st quarter worth about $131,000. J. Derek Lewis & Associates Inc. bought a new position in Joby Aviation during the 1st quarter worth about $121,000. Western Wealth Management LLC bought a new position in Joby Aviation during the 1st quarter worth about $37,000. Edgestream Partners L.P. bought a new position in Joby Aviation during the 1st quarter worth about $1,189,000. Finally, Arkadios Wealth Advisors bought a new position in Joby Aviation during the 1st quarter worth about $90,000. 52.85% of the stock is currently owned by institutional investors.

Joby Aviation Trading Down 4.4%

JOBY stock opened at $9.28 on Wednesday. The company has a market capitalization of $9.12 billion, a PE ratio of -8.07 and a beta of 2.66. Joby Aviation has a 12 month low of $7.75 and a 12 month high of $20.95. The firm’s 50-day moving average is $9.74 and its 200 day moving average is $11.43. The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.09. The company had revenue of $24.25 million for the quarter, compared to the consensus estimate of $20.17 million. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. During the same quarter last year, the firm posted ($0.11) EPS. On average, research analysts anticipate that Joby Aviation will post -0.83 EPS for the current year.

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.