Joby Aviation (NYSE:JOBY) Stock Price Down 3.8% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY)’s stock price traded down 3.8% on Thursday . The stock traded as low as $10.27 and last traded at $10.6360. 27,991,921 shares traded hands during trading, an increase of 1% from the average session volume of 27,774,580 shares. The stock had previously closed at $11.06.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Weiss Ratings lowered Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a research report on Thursday, March 12th. Morgan Stanley lowered their price target on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. Oppenheimer set a $18.00 price target on Joby Aviation in a research report on Thursday, February 26th. Finally, Wall Street Zen raised Joby Aviation from a “strong sell” rating to a “sell” rating in a research report on Sunday. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $13.06.

Joby Aviation Price Performance

The stock has a market cap of $10.42 billion, a price-to-earnings ratio of -9.25 and a beta of 2.61. The company has a 50-day simple moving average of $9.23 and a two-hundred day simple moving average of $12.05. The company has a debt-to-equity ratio of 0.36, a quick ratio of 22.05 and a current ratio of 22.06.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. The business had revenue of $24.25 million for the quarter, compared to analyst estimates of $20.17 million. Joby Aviation had a negative return on equity of 60.54% and a negative net margin of 1,232.62%.During the same period in the previous year, the firm earned ($0.11) EPS. As a group, equities research analysts forecast that Joby Aviation, Inc. will post -0.83 EPS for the current year.

Insiders Place Their Bets

In related news, insider Didier Papadopoulos sold 12,965 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $8.15, for a total transaction of $105,664.75. Following the transaction, the insider directly owned 147,678 shares of the company’s stock, valued at approximately $1,203,575.70. The trade was a 8.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Allison sold 74,844 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $10.00, for a total value of $748,440.00. Following the transaction, the insider directly owned 676,008 shares in the company, valued at $6,760,080. The trade was a 9.97% 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 1,308,584 shares of company stock valued at $12,409,110 over the last 90 days. 28.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in JOBY. Vanguard Group Inc. increased its holdings in shares of Joby Aviation by 13.2% during the 3rd quarter. Vanguard Group Inc. now owns 49,948,325 shares of the company’s stock worth $806,166,000 after acquiring an additional 5,828,189 shares during the last quarter. Man Group plc acquired a new position in shares of Joby Aviation during the 3rd quarter worth approximately $40,283,000. Norges Bank acquired a new position in shares of Joby Aviation during the 4th quarter worth approximately $32,269,000. Clear Street Group Inc. acquired a new position in shares of Joby Aviation during the 3rd quarter worth approximately $36,264,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Joby Aviation by 80.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,384,180 shares of the company’s stock valued at $44,672,000 after purchasing an additional 1,512,094 shares during the period. 52.85% of the stock is 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.