Joby Aviation (NYSE:JOBY) Stock Rating Upgraded by Wall Street Zen

Joby Aviation (NYSE:JOBY) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other research firms also recently commented on JOBY. JPMorgan Chase & Co. dropped their price target on shares of Joby Aviation from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Thursday, February 26th. Needham & Company LLC decreased their price objective on shares of Joby Aviation to $18.00 and set a “buy” rating for the company in a report on Thursday, February 26th. HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a research note on Thursday, March 12th. Oppenheimer set a $18.00 target price on Joby Aviation in a report on Thursday, February 26th. Finally, Canaccord Genuity Group restated a “hold” rating and issued a $15.50 target price on shares of Joby Aviation in a research report on Tuesday, February 3rd. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $13.81.

Joby Aviation Stock Performance

NYSE:JOBY opened at $9.23 on Friday. The stock has a market cap of $8.41 billion, a price-to-earnings ratio of -8.09 and a beta of 2.68. Joby Aviation has a 1 year low of $5.61 and a 1 year high of $20.95. The business has a fifty day moving average of $9.39 and a 200-day moving average of $12.90.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.06. The company had revenue of $30.84 million for the quarter, compared to the consensus estimate of $16.88 million. Joby Aviation’s revenue for the quarter was up 5506.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.34) earnings per share. On average, equities research analysts predict that Joby Aviation will post -0.69 EPS for the current year.

Insider Buying and Selling at Joby Aviation

In related news, insider Kate Dehoff sold 14,295 shares of Joby Aviation stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $8.73, for a total value of $124,795.35. Following the transaction, the insider directly owned 163,567 shares in the company, valued at $1,427,939.91. The trade was a 8.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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. Also, insider Eric Allison sold 27,698 shares of the business’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $8.20, for a total value of $227,123.60. Following the sale, the insider directly owned 750,852 shares in the company, valued at $6,156,986.40. This trade represents a 3.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 1,774,220 shares of company stock worth $17,386,938. 32.40% of the stock is owned by insiders.

Institutional Trading of Joby Aviation

Hedge funds have recently bought and sold shares of the company. GPS Wealth Strategies Group LLC boosted its position in Joby Aviation by 22.5% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 3,794 shares of the company’s stock worth $61,000 after acquiring an additional 697 shares during the period. Asset Planning Inc grew its stake in 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 acquiring an additional 700 shares in the last quarter. GoalVest Advisory LLC increased its holdings in shares of Joby Aviation by 2.1% in the 4th quarter. GoalVest Advisory LLC now owns 33,500 shares of the company’s stock valued at $442,000 after purchasing an additional 700 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of Joby Aviation by 4.6% in 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. Finally, Compagnie Lombard Odier SCmA lifted its position in shares of Joby Aviation by 15.3% in the third quarter. Compagnie Lombard Odier SCmA now owns 5,765 shares of the company’s stock worth $93,000 after purchasing an additional 765 shares in the last quarter. 52.85% of the stock is owned by hedge funds and other institutional investors.

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.