Joby Aviation (NYSE:JOBY) Trading Down 3.9% - What's Next?

Key Points

• Shares fell 3.9% to about $8.29 on Thursday (intraday low $8.24) with ~15.8M shares traded, roughly 41% below the ~26.8M average; the 50‑day MA is $9.63 and the 200‑day MA is $13.28, market cap ~$7.56B.
• Analysts show a consensus Reduce rating with an average target of $13.81 (2 Buys, 4 Holds, 3 Sells), and price targets range from JPMorgan's $7 (underweight) to HC Wainwright's $18 (buy).
• Joby beat the latest quarter with EPS -$0.14 vs. -$0.20 expected and revenue $30.84M vs. $16.88M (a 5,506% YoY jump), but insiders have been selling (CEO sale and ~1.33M shares sold in the last 90 days) while insiders still own ~28.5% of the stock.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report)'s stock price was down 3.9% on Thursday . The stock traded as low as $8.24 and last traded at $8.2930. Approximately 15,784,272 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 26,843,236 shares. The stock had previously closed at $8.63.

Wall Street Analyst Weigh In

JOBY has been the subject of several research reports. Canaccord Genuity Group reissued a "hold" rating and issued a $15.50 price target on shares of Joby Aviation in a research report on Tuesday, February 3rd. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price objective on shares of Joby Aviation in a report on Thursday, March 12th. Needham & Company LLC cut their price objective on shares of Joby Aviation to $18.00 and set a "buy" rating on the stock in a report on Thursday, February 26th. JPMorgan Chase & Co. cut their price objective on shares of Joby Aviation from $8.00 to $7.00 and set an "underweight" rating on the stock in a report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Joby Aviation in a report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, Joby Aviation presently has a consensus rating of "Reduce" and an average target price of $13.81.

Joby Aviation Trading Down 3.9%

The stock's fifty day moving average is $9.63 and its two-hundred day moving average is $13.28. The company has a market capitalization of $7.56 billion, a PE ratio of -7.27 and a beta of 2.68.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.20) by $0.06. The company had revenue of $30.84 million during the quarter, compared to analysts' expectations of $16.88 million. During the same period last year, the firm posted ($0.34) earnings per share. Joby Aviation's quarterly revenue was up 5506.5% compared to the same quarter last year. As a group, analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Transactions at Joby Aviation

In related news, CEO Joeben Bevirt sold 15,823 shares of the business's stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $8.15, for a total value of $128,957.45. Following the sale, the chief executive officer directly owned 263,862 shares in the company, valued at approximately $2,150,475.30. The trade was a 5.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Didier Papadopoulos sold 3,394 shares of the company's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $8.76, for a total value of $29,731.44. Following the sale, the insider owned 144,284 shares in the company, valued at approximately $1,263,927.84. This represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 1,331,343 shares of company stock valued at $13,816,788. 28.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp increased its position in shares of Joby Aviation by 207.4% during the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company's stock valued at $26,000 after buying an additional 1,348 shares during the period. Asset Planning Inc increased its position in shares of Joby Aviation by 70.0% during the third quarter. Asset Planning Inc now owns 1,700 shares of the company's stock valued at $27,000 after buying an additional 700 shares during the period. 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 valued at $27,000 after buying an additional 1,880 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Joby Aviation during the fourth quarter valued at about $28,000. Finally, Canton Hathaway LLC bought a new stake in shares of Joby Aviation during the third quarter valued at about $29,000. 52.85% of the stock is currently owned by 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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