Joby Aviation (NYSE:JOBY) Trading Down 3.5% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY) fell 3.5% during mid-day trading on Friday . The stock traded as low as $11.43 and last traded at $11.8650. 31,011,893 shares changed hands during trading, an increase of 11% from the average session volume of 28,007,275 shares. The stock had previously closed at $12.30.

Analysts Set New Price Targets

Several research firms recently issued reports on JOBY. Canaccord Genuity Group cut their price target on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a report on Thursday, May 7th. Wall Street Zen raised shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Morgan Stanley cut their price target on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Weiss Ratings cut shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Finally, HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a report on Thursday, March 12th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $13.06.

Joby Aviation Stock Performance

The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $11.67 billion, a PE ratio of -10.32 and a beta of 2.61. The stock’s fifty day simple moving average is $9.45 and its 200-day simple moving average is $11.66.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.09. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. The company had revenue of $24.25 million during the quarter, compared to analysts’ expectations of $20.17 million. During the same period last year, the company posted ($0.11) earnings per share. On average, research analysts predict that Joby Aviation, Inc. will post -0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Joby Aviation news, insider Eric Allison sold 74,844 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $10.00, for a total value of $748,440.00. Following the completion of the transaction, the insider directly owned 676,008 shares of the company’s stock, valued at approximately $6,760,080. This trade represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Joeben Bevirt sold 421,019 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $10.38, for a total transaction of $4,370,177.22. Following the completion of the transaction, the chief executive officer directly owned 31,678,802 shares of the company’s stock, valued at approximately $328,825,964.76. This trade represents a 1.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,089,118 shares of company stock valued at $10,449,476 in the last 90 days. 28.50% of the stock is owned by corporate insiders.

Institutional Trading of Joby Aviation

Several large investors have recently modified their holdings of the business. Segall Bryant & Hamill LLC acquired a new stake in shares of Joby Aviation in the first quarter valued at approximately $131,000. J. Derek Lewis & Associates Inc. acquired a new stake in shares of Joby Aviation in the first quarter valued at approximately $121,000. Western Wealth Management LLC acquired a new stake in shares of Joby Aviation in the first quarter valued at approximately $37,000. Edgestream Partners L.P. acquired a new stake in shares of Joby Aviation in the first quarter valued at approximately $1,189,000. Finally, Arkadios Wealth Advisors acquired a new stake in shares of Joby Aviation in the first quarter valued at approximately $90,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Joby Aviation Company Profile

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.