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

Shares of Joby Aviation, Inc. (NYSE:JOBY) have earned a consensus rating of “Reduce” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $13.2143.

Several research firms have recently commented on JOBY. HC Wainwright reiterated a “neutral” rating on shares of Joby Aviation in a research note on Monday, November 24th. The Goldman Sachs Group initiated coverage on shares of Joby Aviation in a research note on Monday, December 1st. They set a “sell” rating and a $10.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Friday, October 31st. Zacks Research upgraded shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a research note on Thursday, January 22nd.

Joby Aviation Stock Performance

Shares of NYSE JOBY opened at $10.37 on Thursday. Joby Aviation has a 1 year low of $4.96 and a 1 year high of $20.95. The stock’s 50-day simple moving average is $14.14 and its 200-day simple moving average is $15.23. The firm has a market cap of $9.46 billion, a price-to-earnings ratio of -7.74 and a beta of 2.57.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.29). The company had revenue of $22.57 million during the quarter, compared to analysts’ expectations of $0.02 million. During the same period in the prior year, the company earned ($0.21) earnings per share. The business’s revenue was up 7962.1% compared to the same quarter last year. As a group, research analysts predict that Joby Aviation will post -0.69 EPS for the current year.

Insider Activity at Joby Aviation

In related news, insider Kate Dehoff sold 28,260 shares of the firm’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $14.72, for a total transaction of $415,987.20. Following the transaction, the insider directly owned 149,369 shares in the company, valued at $2,198,711.68. This trade represents a 15.91% decrease in their ownership of the stock. 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 Joby Aviation stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of $13.25, for a total transaction of $429,936.00. Following the completion of the transaction, the insider directly owned 659,980 shares of the company’s stock, valued at approximately $8,744,735. This represents a 4.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 297,750 shares of company stock worth $4,138,695 over the last quarter. 28.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Royal Bank of Canada raised its stake in Joby Aviation by 110.5% during the first quarter. Royal Bank of Canada now owns 85,070 shares of the company’s stock worth $512,000 after acquiring an additional 44,659 shares during the period. AQR Capital Management LLC bought a new position in Joby Aviation during the 1st quarter worth $273,000. Strs Ohio bought a new position in Joby Aviation during the 1st quarter worth $37,000. Ameritas Advisory Services LLC acquired a new stake in Joby Aviation in the second quarter worth $39,000. Finally, Valeo Financial Advisors LLC bought a new stake in Joby Aviation in the second quarter valued at $461,000. 52.85% of the stock is currently owned by 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.