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

Joby Aviation, Inc. (NYSE:JOBY) has been assigned an average recommendation of “Reduce” from the eight ratings firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $14.00.

Several equities analysts have recently issued reports on JOBY shares. Canaccord Genuity Group lowered Joby Aviation from a “buy” rating to a “hold” rating and boosted their target price for the stock from $12.00 to $17.00 in a research report on Thursday, August 7th. Zacks Research upgraded shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a research report on Wednesday, October 8th. Morgan Stanley upped their price objective on shares of Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, October 9th. Finally, JPMorgan Chase & Co. raised their price objective on Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Friday, October 31st.

Insider Activity at Joby Aviation

In other news, CEO Joeben Bevirt sold 32,284 shares of Joby Aviation stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $16.78, for a total transaction of $541,725.52. Following the transaction, the chief executive officer owned 249,587 shares in the company, valued at $4,188,069.86. The trade was a 11.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Didier Papadopoulos sold 5,102 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $18.08, for a total value of $92,244.16. Following the completion of the transaction, the insider owned 98,104 shares of the company’s stock, valued at $1,773,720.32. This represents a 4.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,654,022 shares of company stock valued at $25,019,336 over the last 90 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. CWM LLC lifted its position 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 in the last quarter. GPS Wealth Strategies Group LLC raised its stake in shares of Joby Aviation by 22.5% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 3,794 shares of the company’s stock valued at $61,000 after purchasing an additional 697 shares during the period. Asset Planning Inc lifted its holdings in shares of Joby Aviation by 70.0% in the third quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock valued at $27,000 after purchasing an additional 700 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Joby Aviation by 4.6% during the third quarter. Thrivent Financial for Lutherans now owns 16,705 shares of the company’s stock worth $270,000 after buying an additional 736 shares during the period. Finally, Allworth Financial LP grew its holdings in shares of Joby Aviation by 11.9% during the second quarter. Allworth Financial LP now owns 7,197 shares of the company’s stock worth $76,000 after buying an additional 763 shares in the last quarter. Institutional investors own 52.85% of the company’s stock.

Joby Aviation Stock Performance

Shares of Joby Aviation stock opened at $13.09 on Friday. The firm has a fifty day moving average of $15.93 and a two-hundred day moving average of $13.37. The stock has a market capitalization of $11.94 billion, a price-to-earnings ratio of -9.77 and a beta of 2.52. Joby Aviation has a 52 week low of $4.96 and a 52 week high of $20.95.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Thursday, November 6th. 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 analyst estimates of $0.02 million. The firm’s revenue for the quarter was up 7962.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.21) earnings per share. As a group, research analysts forecast that Joby Aviation will post -0.69 EPS for the current fiscal year.

About Joby Aviation

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.