Joby Aviation (NYSE:JOBY) Sets New 12-Month Low – Should You Sell?

Joby Aviation, Inc. (NYSE:JOBY) shares hit a new 52-week low on Wednesday . The stock traded as low as $6.85 and last traded at $6.8620, with a volume of 4712857 shares trading hands. The stock had previously closed at $7.27.

Analysts Set New Price Targets

A number of equities analysts recently commented on JOBY shares. Canaccord Genuity Group dropped their price target on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a research note on Thursday, May 7th. Wall Street Zen raised shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. Morgan Stanley decreased their price objective on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. Weiss Ratings upgraded Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Joby Aviation in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $13.64.

Joby Aviation Stock Up 9.0%

The company has a market cap of $7.13 billion, a P/E ratio of -6.30 and a beta of 2.71. The company has a debt-to-equity ratio of 0.36, a quick ratio of 22.05 and a current ratio of 22.06. The business’s fifty day moving average is $9.07 and its two-hundred day moving average is $9.86.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) 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 analyst estimates of $20.17 million. During the same quarter in the previous year, the business earned ($0.11) earnings per share. Equities analysts predict that Joby Aviation, Inc. will post -0.89 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Joeben Bevirt sold 15,788 shares of Joby Aviation stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $8.92, for a total value of $140,828.96. Following the completion of the sale, the chief executive officer directly owned 239,671 shares in the company, valued at $2,137,865.32. The trade was a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kate Dehoff sold 14,240 shares of the company’s stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $7.73, for a total transaction of $110,075.20. Following the completion of the sale, the insider directly owned 180,179 shares of the company’s stock, valued at approximately $1,392,783.67. This trade represents a 7.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last ninety days, insiders sold 1,125,580 shares of company stock worth $12,172,117. 20.35% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in JOBY. Vanguard Group Inc. lifted its position in shares of Joby Aviation by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock worth $692,851,000 after purchasing an additional 2,540,382 shares during the period. Geode Capital Management LLC increased its holdings in Joby Aviation by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 11,790,532 shares of the company’s stock valued at $155,671,000 after buying an additional 390,794 shares during the period. State Street Corp raised its stake in Joby Aviation by 5.0% in the fourth quarter. State Street Corp now owns 10,812,929 shares of the company’s stock worth $142,731,000 after buying an additional 512,129 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Joby Aviation by 6.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,370,983 shares of the company’s stock worth $57,697,000 after buying an additional 271,475 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Joby Aviation by 41.2% during the third quarter. Bank of America Corp DE now owns 4,192,109 shares of the company’s stock worth $67,661,000 after buying an additional 1,223,412 shares during the period. Hedge funds and other institutional investors own 52.85% of the company’s stock.

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.