Joby Aviation (NYSE:JOBY) Shares Down 1.9% - Should You Sell?

Key Points

• Shares fell 1.9% to $8.97 on Tuesday with volume about 19% below average; analysts give Joby a consensus rating of "Reduce" and an average price target of $13.81 (mix of 2 Buy, 4 Hold, 3 Sell).
• Joby beat expectations for the quarter with EPS of -$0.14 versus estimates of -$0.20 and revenue of $30.84 million (vs. $16.88 million expected), a year‑over‑year revenue increase of 5,506.5%.
• Insiders have been net sellers—1,774,220 shares (~$17.39M) sold in the last 90 days—though insiders still own 32.40% of the company and institutions own 52.85%, with Vanguard holding ~52.49 million shares.

Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) traded down 1.9% on Tuesday . The company traded as low as $8.88 and last traded at $8.9650. 21,186,962 shares changed hands during trading, a decline of 19% from the average session volume of 26,220,383 shares. The stock had previously closed at $9.14.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Canaccord Genuity Group reissued a "hold" rating and set a $15.50 target price on shares of Joby Aviation in a research report on Tuesday, February 3rd. Needham & Company LLC reduced their target price on shares of Joby Aviation to $18.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. Oppenheimer set a $18.00 target price on shares of Joby Aviation in a research report on Thursday, February 26th. JPMorgan Chase & Co. reduced their target price on shares of Joby Aviation from $8.00 to $7.00 and set an "underweight" rating on the stock in a research report on Thursday, February 26th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Joby Aviation in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $13.81.

Joby Aviation Stock Down 1.9%

The firm's 50 day simple moving average is $9.36 and its two-hundred day simple moving average is $12.84. The stock has a market cap of $8.17 billion, a P/E ratio of -7.86 and a beta of 2.68.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its earnings results on Wednesday, February 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.20) by $0.06. The firm had revenue of $30.84 million for the quarter, compared to analyst estimates of $16.88 million. The company's revenue for the quarter was up 5506.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.34) earnings per share. As a group, equities analysts predict that Joby Aviation, Inc. will post -0.82 EPS for the current year.

Insider Activity at Joby Aviation

In related news, insider Eric Allison sold 27,698 shares of the stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $8.20, for a total value of $227,123.60. Following the completion of the transaction, the insider owned 750,852 shares in the company, valued at $6,156,986.40. This represents a 3.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kate Dehoff sold 16,235 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $9.91, for a total transaction of $160,888.85. Following the completion of the transaction, the insider owned 149,369 shares of the company's stock, valued at $1,480,246.79. This represents a 9.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,774,220 shares of company stock worth $17,386,938 in the last 90 days. Corporate insiders own 32.40% of the company's stock.

Hedge Funds Weigh In On Joby Aviation

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Joby Aviation by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company's stock valued at $692,851,000 after purchasing an additional 2,540,382 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Joby Aviation by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 11,790,532 shares of the company's stock valued at $155,671,000 after purchasing an additional 390,794 shares in the last quarter. State Street Corp boosted its position in shares of Joby Aviation by 5.0% during the 4th quarter. State Street Corp now owns 10,812,929 shares of the company's stock valued at $142,731,000 after purchasing an additional 512,129 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Joby Aviation by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,370,983 shares of the company's stock valued at $57,697,000 after purchasing an additional 271,475 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Joby Aviation by 41.2% during the 3rd quarter. Bank of America Corp DE now owns 4,192,109 shares of the company's stock valued at $67,661,000 after purchasing an additional 1,223,412 shares in the last quarter. Institutional investors own 52.85% of the company's stock.

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.

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