Joby Aviation (NYSE:JOBY) Upgraded by Wall Street Zen to "Sell" Rating

Key Points

• Wall Street Zen upgraded Joby Aviation from a "strong sell" to a "sell" rating in its latest research report.
• Analyst views are mixed but cautious: the stock has a consensus rating of "Reduce" with a consensus price target of $13.81 (analyst split: 2 Buy, 4 Hold, 3 Sell; JPMorgan recently cut its target to $7).
• Company insiders have been net sellers recently—including CEO Joeben Bevirt—with 1,774,220 shares sold in the last 90 days (valued at about $17.39M); insiders still own 28.5% of the stock.

Joby Aviation (NYSE:JOBY - Get Free Report) was upgraded by Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued on Saturday.

A number of other equities research analysts have also recently issued reports on the company. JPMorgan Chase & Co. cut their target price on Joby Aviation from $8.00 to $7.00 and set an "underweight" rating on the stock in a research note on Thursday, February 26th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Joby Aviation in a research note on Thursday, January 22nd. Canaccord Genuity Group reiterated a "hold" rating and issued a $15.50 target price on shares of Joby Aviation in a research note on Tuesday, February 3rd. Needham & Company LLC cut their target price on Joby Aviation to $18.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. Finally, HC Wainwright reiterated a "buy" rating and issued a $18.00 target price on shares of Joby Aviation in a research note on Thursday, March 12th. Two equities 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $13.81.

Joby Aviation Stock Performance

JOBY stock opened at $9.23 on Friday. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of -8.09 and a beta of 2.68. Joby Aviation has a 1 year low of $5.61 and a 1 year high of $20.95. The stock's fifty day moving average is $9.39 and its two-hundred day moving average is $12.95.

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 company had revenue of $30.84 million during the quarter, compared to the consensus estimate of $16.88 million. The business's quarterly revenue was up 5506.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.34) earnings per share. As a group, analysts predict that Joby Aviation will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Joeben Bevirt sold 39,963 shares of the company's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $9.03, for a total value of $360,865.89. Following the completion of the sale, the chief executive officer owned 224,823 shares of the company's stock, valued at $2,030,151.69. This represents a 15.09% decrease in their ownership of the stock. The transaction 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 Eric Allison sold 27,698 shares of the company's stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $8.20, for a total transaction of $227,123.60. Following the completion of the sale, the insider directly owned 750,852 shares of the company's stock, valued at $6,156,986.40. The trade was a 3.56% decrease in their position. 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. Over the last ninety days, insiders have sold 1,774,220 shares of company stock valued at $17,386,938. Corporate insiders own 28.50% of the company's stock.

Institutional Trading of Joby Aviation

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp raised its holdings in Joby Aviation by 207.4% during the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company's stock worth $26,000 after buying an additional 1,348 shares during the period. Asset Planning Inc increased its holdings in shares of Joby Aviation by 70.0% in the 3rd quarter. Asset Planning Inc now owns 1,700 shares of the company's stock valued at $27,000 after purchasing an additional 700 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Joby Aviation by 284.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company's stock valued at $27,000 after purchasing an additional 1,880 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Joby Aviation in the 4th quarter valued at about $28,000. Finally, Canton Hathaway LLC acquired a new position in shares of Joby Aviation in the 3rd quarter valued at about $29,000. Institutional investors and hedge funds own 52.85% of the company's stock.

About Joby Aviation

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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