Joby Aviation, Inc. (NYSE:JOBY) Receives $10.50 Consensus PT from Analysts

Shares of Joby Aviation, Inc. (NYSE:JOBY) have earned a consensus recommendation of “Hold” from the six research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $10.50.

Several equities research analysts have weighed in on the company. Wall Street Zen downgraded Joby Aviation from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. increased their price target on Joby Aviation from $5.00 to $7.00 and gave the stock an “underweight” rating in a research report on Friday, August 1st. Canaccord Genuity Group downgraded Joby Aviation from a “buy” rating to a “hold” rating and increased their price target for the stock from $12.00 to $17.00 in a research report on Thursday, August 7th. HC Wainwright downgraded Joby Aviation from a “buy” rating to a “neutral” rating in a research report on Thursday, August 7th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $9.00 price target on shares of Joby Aviation in a research report on Monday, June 23rd.

Joby Aviation Stock Performance

Shares of JOBY opened at $16.58 on Thursday. The stock has a 50-day moving average of $13.46 and a two-hundred day moving average of $9.10. Joby Aviation has a one year low of $4.70 and a one year high of $20.95. The stock has a market cap of $13.13 billion, a P/E ratio of -15.50 and a beta of 2.52.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The company had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.05 million. Joby Aviation had a negative return on equity of 71.29% and a negative net margin of 447,083.78%. Joby Aviation’s revenue for the quarter was down 94.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.18) earnings per share. Analysts predict that Joby Aviation will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In other news, insider Didier Papadopoulos sold 5,102 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $10.28, for a total transaction of $52,448.56. Following the sale, the insider directly owned 84,953 shares of the company’s stock, valued at $873,316.84. This represents a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul Cahill Sciarra sold 500,001 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $12.38, for a total transaction of $6,190,012.38. Following the sale, the director directly owned 57,328,059 shares in the company, valued at approximately $709,721,370.42. The trade was a 0.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,936,558 shares of company stock worth $21,551,263. 28.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. CWM LLC raised its holdings in Joby Aviation by 8.1% in the 2nd quarter. CWM LLC now owns 9,156 shares of the company’s stock valued at $97,000 after acquiring an additional 689 shares during the last quarter. GPS Wealth Strategies Group LLC raised its holdings in Joby Aviation by 32.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock valued at $33,000 after acquiring an additional 750 shares during the last quarter. Allworth Financial LP raised its holdings in Joby Aviation by 11.9% in the 2nd quarter. Allworth Financial LP now owns 7,197 shares of the company’s stock valued at $76,000 after acquiring an additional 763 shares during the last quarter. Flagship Harbor Advisors LLC raised its holdings in Joby Aviation by 2.6% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 31,726 shares of the company’s stock valued at $335,000 after acquiring an additional 800 shares during the last quarter. Finally, EP Wealth Advisors LLC raised its holdings in Joby Aviation by 2.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company’s stock valued at $403,000 after acquiring an additional 821 shares during the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

Joby Aviation Company Profile

Joby Aviation, Inc, a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.