Brokerages Set Joby Aviation, Inc. (NYSE:JOBY) Price Target at $13.81

Shares of Joby Aviation, Inc. (NYSE:JOBY) have earned a consensus rating of “Reduce” from the nine ratings firms that are currently covering the company, MarketBeat Ratings reports. Three 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 price target among analysts that have updated their coverage on the stock in the last year is $13.8125.

A number of equities research analysts recently commented on JOBY shares. Barclays upgraded shares of Joby Aviation to a “hold” rating in a report on Wednesday, July 29th. Canaccord Genuity Group reduced their target price 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. Morgan Stanley lowered their target price on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Wall Street Zen downgraded Joby Aviation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Finally, HC Wainwright restated a “buy” rating on shares of Joby Aviation in a report on Thursday, August 6th.

Insiders Place Their Bets

In related news, insider Kate Dehoff sold 14,240 shares of Joby Aviation stock in a transaction that occurred on Tuesday, July 14th. The stock was sold at an average price of $7.73, for a total value of $110,075.20. Following the sale, the insider 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 position. The sale was disclosed in a 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 Didier Papadopoulos sold 12,939 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $8.92, for a total value of $115,415.88. Following the completion of the sale, the insider owned 160,620 shares in the company, valued at $1,432,730.40. The trade was a 7.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 275,569 shares of company stock worth $2,511,445 in the last 90 days. Company insiders own 20.35% of the company’s stock.

Institutional Trading of Joby Aviation

Institutional investors have recently made changes to their positions in the business. Fifth Third Bancorp increased its stake in Joby Aviation by 207.4% in the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock valued at $26,000 after buying an additional 1,348 shares during the last quarter. Ancora Advisors LLC acquired a new position in shares of Joby Aviation during the 2nd quarter worth about $27,000. EverSource Wealth Advisors LLC grew its holdings in shares of 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 in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Joby Aviation in the 4th quarter valued at about $28,000. Finally, Pandora Wealth Inc. acquired a new stake in shares of Joby Aviation in the fourth quarter valued at about $32,000. Institutional investors own 52.85% of the company’s stock.

Joby Aviation Price Performance

Shares of JOBY opened at $7.03 on Monday. The stock has a 50 day simple moving average of $7.94 and a 200 day simple moving average of $9.08. Joby Aviation has a 52-week low of $6.63 and a 52-week high of $19.98. The company has a debt-to-equity ratio of 0.40, a quick ratio of 17.98 and a current ratio of 17.98. The firm has a market capitalization of $6.95 billion, a PE ratio of -7.10 and a beta of 2.73.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%.The company had revenue of $38.64 million for the quarter, compared to analyst estimates of $30.20 million. During the same quarter last year, the business posted ($0.41) earnings per share. The business’s quarterly revenue was up 257493.3% on a year-over-year basis. Sell-side analysts predict that Joby Aviation will post -1 EPS for the current fiscal 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.