Joby Aviation, Inc. (NYSE:JOBY) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Joby Aviation, Inc. has received a consensus rating of "Hold" from analysts, with one sell rating, four hold ratings, and one buy rating among six analysts.
• The company reported an EPS of ($0.24) for the latest quarter, missing the consensus estimate and experiencing a 94.6% decrease in revenue compared to the same quarter last year.
• Institutional investors own 52.85% of Joby Aviation's stock, with significant investments from companies like Toyota Motor Corp and Uber Technologies Inc.

Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) have been given a consensus recommendation of "Hold" by the six ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $10.50.

A number of equities research analysts have recently commented on the company. Cantor Fitzgerald restated a "neutral" rating and set a $9.00 target price on shares of Joby Aviation in a research report on Monday, June 23rd. HC Wainwright cut Joby Aviation from a "buy" rating to a "neutral" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. lifted their price objective on Joby Aviation from $5.00 to $7.00 and gave the stock an "underweight" rating in a report on Friday, August 1st. Canaccord Genuity Group cut Joby Aviation from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $12.00 to $17.00 in a report on Thursday, August 7th. Finally, Wall Street Zen cut Joby Aviation from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd.

Joby Aviation Stock Down 4.5%

Shares of NYSE:JOBY traded down $0.79 during trading on Thursday, reaching $16.58. 37,017,421 shares of the company's stock traded hands, compared to its average volume of 36,805,464. Joby Aviation has a fifty-two week low of $4.70 and a fifty-two week high of $20.95. The firm has a market cap of $13.13 billion, a PE ratio of -15.50 and a beta of 2.52. The company has a 50-day simple moving average of $13.46 and a 200-day simple moving average of $9.09.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.06). Joby Aviation had a negative net margin of 447,083.78% and a negative return on equity of 71.29%. The business had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.05 million. During the same quarter last year, the business earned ($0.18) earnings per share. Joby Aviation's revenue was down 94.6% on a year-over-year basis. On average, equities research analysts forecast that Joby Aviation will post -0.69 EPS for the current year.

Insider Buying and Selling at Joby Aviation

In related news, CEO Joeben Bevirt sold 472,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $9.82, for a total value of $4,635,040.00. Following the transaction, the chief executive officer directly owned 360,999 shares in the company, valued at approximately $3,545,010.18. This represents a 56.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bonny W. Simi sold 300,000 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $10.79, for a total value of $3,237,000.00. Following the completion of the transaction, the insider owned 203,588 shares in the company, valued at $2,196,714.52. This represents a 59.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,936,558 shares of company stock worth $21,551,263. 28.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its position in shares of Joby Aviation by 284.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company's stock worth $27,000 after acquiring an additional 1,880 shares during the period. GPS Wealth Strategies Group LLC increased its holdings in Joby Aviation by 32.0% in the second quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company's stock valued at $33,000 after buying an additional 750 shares during the last quarter. GAMMA Investing LLC increased its holdings in Joby Aviation by 773.9% in the first quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock valued at $34,000 after buying an additional 5,015 shares during the last quarter. Strs Ohio purchased a new position in Joby Aviation in the first quarter valued at $37,000. Finally, Ameritas Advisory Services LLC purchased a new position in Joby Aviation in the second quarter valued at $39,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Joby Aviation Company Profile

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.