Joby Aviation (NYSE:JOBY) Trading Down 3.5% - Should You Sell?

Key Points

• Joby Aviation shares fell 3.5% on Friday, trading as low as $11.43 before last changing hands at $11.865, with volume running above average at 31.0 million shares.
• Analyst sentiment remains cautious: the stock carries a consensus “Reduce” rating and an average price target of $13.06, while Morgan Stanley cut its target to $13 and other firms remain split between Buy, Hold, and Sell.
• In its latest quarter, Joby beat expectations with EPS of -$0.12 vs. -$0.21 expected and revenue of $24.25 million, though the company remains unprofitable and insiders have sold more than $10.4 million of stock over the last 90 days.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) traded down 3.5% during mid-day trading on Friday . The stock traded as low as $11.43 and last traded at $11.8650. 31,011,893 shares were traded during mid-day trading, an increase of 11% from the average session volume of 28,007,275 shares. The stock had previously closed at $12.30.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of Joby Aviation from a "strong sell" rating to a "sell" rating in a research note on Sunday, May 10th. Morgan Stanley decreased their price objective on shares of Joby Aviation from $15.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 6th. HC Wainwright restated a "buy" rating and issued a $18.00 price objective on shares of Joby Aviation in a research note on Thursday, March 12th. Needham & Company LLC restated a "buy" rating and issued a $18.00 price objective on shares of Joby Aviation in a research note on Wednesday, May 6th. Finally, 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. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Joby Aviation has a consensus rating of "Reduce" and an average price target of $13.06.

Joby Aviation Stock Down 3.5%

The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05. The company has a market cap of $11.67 billion, a price-to-earnings ratio of -10.32 and a beta of 2.61. The firm's 50 day simple moving average is $9.45 and its 200-day simple moving average is $11.66.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, beating analysts' consensus estimates of ($0.21) by $0.09. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. The business had revenue of $24.25 million during the quarter, compared to analysts' expectations of $20.17 million. During the same period in the prior year, the company earned ($0.11) earnings per share. As a group, sell-side analysts anticipate that Joby Aviation, Inc. will post -0.83 earnings per share for the current year.

Insider Buying and Selling at Joby Aviation

In other news, insider Kate Dehoff sold 14,295 shares of the company's stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $8.73, for a total value of $124,795.35. Following the completion of the sale, the insider directly owned 163,567 shares of the company's stock, valued at approximately $1,427,939.91. This represents a 8.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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, insider Eric Allison sold 74,844 shares of the company's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $10.00, for a total transaction of $748,440.00. Following the completion of the sale, the insider directly owned 676,008 shares of the company's stock, 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 1,089,118 shares of company stock valued at $10,449,476 over the last ninety days. 28.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Joby Aviation

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

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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