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

Joby Aviation, Inc. (NYSE:JOBY) has been given a consensus recommendation of “Reduce” by the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Three equities research 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 1-year price objective among brokers that have updated their coverage on the stock in the last year is $13.8125.

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Joby Aviation from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Thursday, February 26th. Oppenheimer set a $18.00 price objective on Joby Aviation in a research report on Thursday, February 26th. Canaccord Genuity Group restated a “hold” rating and set a $15.50 price objective on shares of Joby Aviation in a research note on Tuesday, February 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Joby Aviation in a research report on Thursday, January 22nd. Finally, HC Wainwright upgraded Joby Aviation from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Thursday, February 26th.

Insider Activity

In related news, insider Bonny W. Simi sold 110,173 shares of Joby Aviation stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $13.85, for a total value of $1,525,896.05. Following the sale, the insider directly owned 125,114 shares in the company, valued at $1,732,828.90. This trade represents a 46.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Eric Allison sold 32,448 shares of the business’s stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $13.25, for a total transaction of $429,936.00. Following the transaction, the insider directly owned 659,980 shares of the company’s stock, valued at $8,744,735. The trade was a 4.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,470,074 shares of company stock worth $16,083,913 over the last ninety days. Insiders own 28.50% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Several large investors have recently made changes to their positions in JOBY. Fifth Third Bancorp boosted its position in shares of Joby Aviation by 207.4% during the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock worth $26,000 after buying an additional 1,348 shares during the period. Asset Planning Inc increased its position in Joby Aviation by 70.0% in 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 during the period. EverSource Wealth Advisors LLC increased its position in Joby Aviation by 284.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after acquiring an additional 1,880 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Joby Aviation during the 4th quarter valued at $28,000. Finally, Canton Hathaway LLC bought a new stake in Joby Aviation during the 3rd quarter valued at $29,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Joby Aviation Stock Down 0.5%

Shares of NYSE:JOBY opened at $9.57 on Monday. The company has a market cap of $8.72 billion, a PE ratio of -8.39 and a beta of 2.59. Joby Aviation has a fifty-two week low of $4.96 and a fifty-two week high of $20.95. The firm has a 50-day simple moving average of $12.15 and a 200 day simple moving average of $14.10.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, February 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.06. The business had revenue of $30.84 million during the quarter, compared to the consensus estimate of $16.88 million. During the same period in the prior year, the business earned ($0.34) EPS. The business’s revenue was up 5506.5% on a year-over-year basis. As a group, research analysts forecast that Joby Aviation will post -0.69 EPS for the current fiscal year.

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.