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

Joby Aviation, Inc. (NYSE:JOBYGet Free Report) has received a consensus rating of “Reduce” from the nine brokerages that are presently covering the firm, MarketBeat.com reports. Three equities 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 12 month price target among brokerages that have issued a report on the stock in the last year is $13.4286.

Several analysts recently commented on JOBY shares. Morgan Stanley raised their price target on shares of Joby Aviation from $7.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, October 9th. Zacks Research upgraded shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. boosted their price target on shares of Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Friday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price target on shares of Joby Aviation in a research note on Thursday, November 6th. Finally, The Goldman Sachs Group began coverage on Joby Aviation in a report on Monday, December 1st. They set a “sell” rating and a $10.00 price objective for the company.

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Key Stories Impacting Joby Aviation

Here are the key news stories impacting Joby Aviation this week:

Joby Aviation Trading Up 0.7%

NYSE:JOBY opened at $15.36 on Friday. The business’s fifty day moving average price is $14.55 and its 200 day moving average price is $15.04. The firm has a market capitalization of $14.00 billion, a price-to-earnings ratio of -11.46 and a beta of 2.56. Joby Aviation has a 1-year low of $4.96 and a 1-year high of $20.95.

Joby Aviation (NYSE:JOBYGet Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.29). The business had revenue of $22.57 million during the quarter, compared to analysts’ expectations of $0.02 million. The company’s revenue for the quarter was up 7962.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.21) EPS. Equities analysts forecast that Joby Aviation will post -0.69 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Eric Allison sold 32,448 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 659,980 shares of the company’s stock, valued at $8,744,735. This trade represents a 4.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 owned 125,114 shares of the company’s stock, valued at approximately $1,732,828.90. This represents a 46.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 277,501 shares of company stock worth $4,004,816. Insiders own 28.50% of the company’s stock.

Institutional Trading of Joby Aviation

Several large investors have recently added to or reduced their stakes in JOBY. Asset Planning Inc raised its holdings in shares of Joby Aviation by 70.0% during the 3rd 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. EverSource Wealth Advisors LLC boosted its holdings in Joby Aviation by 284.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock worth $27,000 after purchasing an additional 1,880 shares in the last quarter. Canton Hathaway LLC acquired a new position in Joby Aviation during the third quarter worth $29,000. Strategic Advocates LLC bought a new position in Joby Aviation during the third quarter valued at about $29,000. Finally, Hilltop National Bank bought a new position in Joby Aviation during the third quarter valued at about $32,000. 52.85% of the stock is owned by institutional investors.

About Joby Aviation

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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.

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Analyst Recommendations for Joby Aviation (NYSE:JOBY)

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