Joby Aviation (NYSE:JOBY) Sets New 52-Week Low – Time to Sell?

Shares of Joby Aviation, Inc. (NYSE:JOBY) hit a new 52-week low during mid-day trading on Thursday. The stock traded as low as $5.93 and last traded at $5.9450, with a volume of 1843321 shares trading hands. The stock had previously closed at $6.05.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Susquehanna set a $18.00 price objective on shares of Joby Aviation in a research note on Thursday, August 6th. Needham & Company LLC cut their price target on Joby Aviation from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Wall Street Zen lowered Joby Aviation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a research note on Monday, September 21st. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Joby Aviation in a research report on Monday, September 21st. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $13.81.

Joby Aviation Stock Performance

The firm has a fifty day moving average price of $7.06 and a 200 day moving average price of $8.51. The company has a debt-to-equity ratio of 0.40, a quick ratio of 17.98 and a current ratio of 17.98. The stock has a market cap of $5.88 billion, a PE ratio of -6.00 and a beta of 2.68.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%.The business had revenue of $38.64 million during the quarter, compared to analyst estimates of $30.20 million. During the same period in the previous year, the business earned ($0.41) EPS. The firm’s revenue for the quarter was up 257493.3% compared to the same quarter last year. Research analysts forecast that Joby Aviation, Inc. will post -1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Joby Aviation news, CFO Rodrigo Brumana sold 8,898 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $6.89, for a total value of $61,307.22. Following the completion of the sale, the chief financial officer owned 110,831 shares of the company’s stock, valued at approximately $763,625.59. This trade represents a 7.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO JoeBen Bevirt sold 606,667 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $6.19, for a total value of $3,755,268.73. Following the sale, the chief executive officer owned 57,207,377 shares in the company, valued at $354,113,663.63. The trade was a 1.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 847,917 shares of company stock valued at $5,512,163 in the last 90 days. 20.35% of the stock is owned by insiders.

Institutional Trading of Joby Aviation

A number of institutional investors have recently bought and sold shares of the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Joby Aviation during the 4th quarter worth approximately $28,000. Ancora Advisors LLC purchased a new position in shares of Joby Aviation in the second quarter worth $27,000. Leonteq Securities AG raised its holdings in shares of Joby Aviation by 295.2% in the first quarter. Leonteq Securities AG now owns 4,351 shares of the company’s stock worth $36,000 after buying an additional 3,250 shares during the last quarter. Western Wealth Management LLC acquired a new stake in shares of Joby Aviation during the first quarter worth $37,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Joby Aviation by 95.5% during the first quarter. Geneos Wealth Management Inc. now owns 5,385 shares of the company’s stock worth $44,000 after buying an additional 2,630 shares during the period. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Joby Aviation Company Profile

Joby Aviation, Inc (NYSE: JOBY) is an aviation company developing all-electric vertical takeoff and landing (eVTOL) aircraft for commercial passenger transportation. Its aircraft are designed to take off and land vertically like a helicopter while providing quieter, lower-emission transportation for short urban and regional trips.

The company is pursuing an integrated air-taxi business model that includes designing and manufacturing its aircraft, operating passenger services, and developing the software and infrastructure needed to support aerial mobility.