Joby Aviation (NYSE:JOBY) Trading 5.5% Higher - Time to Buy?

Key Points

• Joby Aviation shares rose 5.5% on Tuesday, trading as high as $7.91 on volume of 48.3 million shares, well above its average daily volume.
• Analyst sentiment remains mixed: several firms cut price targets or ratings, while Needham reiterated a Buy and set an $18 target. The stock’s consensus rating is currently Reduce with an average target price of $13.64.
• Joby beat quarterly expectations with EPS of -$0.12 versus the expected -$0.21 and revenue of $24.25 million versus $20.17 million, but the company still reported heavy losses and weak margins.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) shares rose 5.5% during trading on Tuesday . The stock traded as high as $7.91 and last traded at $7.8950. Approximately 48,286,013 shares traded hands during mid-day trading, an increase of 57% from the average daily volume of 30,844,344 shares. The stock had previously closed at $7.48.

Analyst Upgrades and Downgrades

JOBY has been the subject of several research analyst reports. Morgan Stanley reduced 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 research report on Wednesday, May 6th. Weiss Ratings downgraded shares of Joby Aviation from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, May 4th. Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 target price on shares of Joby Aviation in a research report on Wednesday, May 6th. Wall Street Zen upgraded Joby Aviation from a "strong sell" rating to a "sell" rating in a report on Sunday, May 10th. Finally, Canaccord Genuity Group dropped their price target on Joby Aviation from $15.50 to $11.50 and set a "hold" rating on the stock in a research report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $13.64.

Joby Aviation Stock Performance

The firm's fifty day moving average is $9.84 and its 200 day moving average is $10.51. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of -6.87 and a beta of 2.71. The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.09. The firm had revenue of $24.25 million for the quarter, compared to analyst estimates of $20.17 million. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. During the same quarter in the prior year, the business earned ($0.11) EPS. On average, analysts predict that Joby Aviation, Inc. will post -0.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other Joby Aviation news, CEO Joeben Bevirt sold 421,019 shares of the business's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $10.38, for a total value of $4,370,177.22. Following the transaction, the chief executive officer owned 31,678,802 shares in the company, valued at $328,825,964.76. The trade was a 1.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Didier Papadopoulos sold 12,939 shares of the company's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $8.92, for a total value of $115,415.88. Following the completion of the transaction, the insider directly owned 160,620 shares in the company, valued at approximately $1,432,730.40. The trade was a 7.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,536,008 shares of company stock valued at $15,951,263 in the last three months. Company insiders own 32.40% of the company's stock.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors have recently made changes to their positions in JOBY. GoalVest Advisory LLC increased its holdings in Joby Aviation by 2.1% in the fourth quarter. GoalVest Advisory LLC now owns 33,500 shares of the company's stock worth $442,000 after buying an additional 700 shares during the last quarter. EP Wealth Advisors LLC grew its position in Joby Aviation by 2.2% in the second quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company's stock worth $403,000 after acquiring an additional 821 shares in the last quarter. Signaturefd LLC increased its stake in shares of Joby Aviation by 8.4% during the 4th quarter. Signaturefd LLC now owns 11,218 shares of the company's stock worth $148,000 after purchasing an additional 872 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Joby Aviation by 38.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,256 shares of the company's stock valued at $56,000 after purchasing an additional 1,188 shares in the last quarter. Finally, Strs Ohio raised its holdings in shares of Joby Aviation by 2.5% during the 1st quarter. Strs Ohio now owns 50,000 shares of the company's stock valued at $413,000 after purchasing an additional 1,200 shares in the last quarter. 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.

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