Analysts Set Joby Aviation, Inc. (NYSE:JOBY) PT at $11.83

Joby Aviation, Inc. (NYSE:JOBY) has received an average rating of “Reduce” from the eight analysts that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $11.8333.

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price target on Joby Aviation from $5.00 to $7.00 and gave the company an “underweight” rating in a report on Friday, August 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a report on Wednesday, October 8th. Zacks Research cut Joby Aviation from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. HC Wainwright cut Joby Aviation from a “buy” rating to a “neutral” rating in a report on Thursday, August 7th. Finally, Morgan Stanley increased their price objective on shares of Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, October 9th.

Joby Aviation Price Performance

Shares of JOBY stock opened at $16.55 on Tuesday. Joby Aviation has a one year low of $4.80 and a one year high of $20.95. The company’s fifty day moving average price is $15.61 and its 200-day moving average price is $12.41. The company has a market capitalization of $14.17 billion, a price-to-earnings ratio of -15.47 and a beta of 2.52.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The business had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.05 million. The business’s quarterly revenue was down 94.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.18) EPS. Equities research analysts expect that Joby Aviation will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In other news, insider Bonny W. Simi sold 173,456 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $17.25, for a total transaction of $2,992,116.00. Following the completion of the transaction, the insider directly owned 211,397 shares in the company, valued at approximately $3,646,598.25. This represents a 45.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Allison sold 27,537 shares of the stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $16.84, for a total value of $463,723.08. Following the transaction, the insider owned 692,428 shares of the company’s stock, valued at $11,660,487.52. This represents a 3.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,830,880 shares of company stock worth $28,060,985. Insiders own 28.50% of the company’s stock.

Institutional Trading of Joby Aviation

Several hedge funds have recently made changes to their positions in JOBY. Asset Planning Inc raised its position in shares of Joby Aviation by 70.0% during the 3rd quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock valued at $27,000 after buying an additional 700 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Joby Aviation by 284.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after buying an additional 1,880 shares in the last quarter. Canton Hathaway LLC purchased a new stake in shares of Joby Aviation during the 3rd quarter valued at about $29,000. Hilltop National Bank purchased a new stake in shares of Joby Aviation during the 3rd quarter valued at about $32,000. Finally, GPS Wealth Strategies Group LLC raised its position in shares of Joby Aviation by 32.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock valued at $33,000 after buying an additional 750 shares in the last quarter. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Joby Aviation Company Profile

Joby Aviation, Inc, a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.