Joby Aviation, Inc. (NYSE:JOBY) Receives $13.06 Average PT from Analysts

Joby Aviation, Inc. (NYSE:JOBY) has been given an average rating of “Reduce” by the nine analysts that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $13.0625.

Several research analysts have recently issued reports on the company. Oppenheimer set a $18.00 price objective on Joby Aviation in a research note on Thursday, February 26th. JPMorgan Chase & Co. reduced their price objective on Joby Aviation from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Thursday, February 26th. Weiss Ratings cut Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Morgan Stanley reduced their price target on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a research report on Wednesday, May 6th.

Insider Activity at Joby Aviation

In related news, insider Kate Dehoff sold 14,295 shares of Joby Aviation stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $8.73, for a total transaction of $124,795.35. Following the completion of the transaction, the insider directly owned 163,567 shares in the company, valued at approximately $1,427,939.91. This trade represents a 8.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 Gregory Bowles sold 11,530 shares of Joby Aviation stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $9.62, for a total value of $110,918.60. Following the transaction, the insider owned 170,360 shares of the company’s stock, valued at approximately $1,638,863.20. This represents a 6.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,096,111 shares of company stock valued at $10,504,153 in the last 90 days. 28.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp raised its position in Joby Aviation by 207.4% during the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock valued at $26,000 after acquiring an additional 1,348 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Joby Aviation by 284.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after purchasing an additional 1,880 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in Joby Aviation in the fourth quarter valued at approximately $28,000. Strategic Advocates LLC acquired a new stake in Joby Aviation in the third quarter valued at approximately $29,000. Finally, Pandora Wealth Inc. acquired a new stake in Joby Aviation in the fourth quarter valued at approximately $32,000. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Joby Aviation Trading Up 5.0%

Shares of NYSE:JOBY opened at $10.92 on Friday. Joby Aviation has a 52-week low of $6.42 and a 52-week high of $20.95. The stock has a market cap of $10.75 billion, a price-to-earnings ratio of -9.50 and a beta of 2.61. The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $9.31 and a 200-day moving average price of $11.78.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $20.17 million. During the same period last year, the business posted ($0.11) earnings per share. Equities analysts predict 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.