Joby Aviation (NYSE:JOBY) Sets New 12-Month Low - Should You Sell?

Key Points

• Joby Aviation shares fell 3.1% to a new 52-week low of $6.61, trading below both their 50-day and 200-day moving averages. The stock has a market capitalization of approximately $6.55 billion.
• Analyst sentiment is cautious, with an average rating of “Reduce” and a consensus price target of $13.81. Ratings range from “strong sell” to “buy,” while Needham recently lowered its target to $15.
• Joby missed quarterly EPS expectations, reporting a loss of $0.25 per share versus the expected $0.23 loss, despite revenue of $38.64 million exceeding estimates. Insiders sold roughly 306,309 shares worth $2.36 million during the last quarter, primarily to cover tax obligations.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $6.61 and last traded at $6.5850, with a volume of 3757540 shares traded. The stock had previously closed at $6.84.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Barclays raised Joby Aviation to a "hold" rating in a report on Wednesday, July 29th. Wall Street Zen downgraded Joby Aviation from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. Needham & Company LLC cut their price objective on Joby Aviation from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Weiss Ratings raised shares of Joby Aviation from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 14th. Finally, Susquehanna set a $18.00 target price on shares of Joby Aviation in a report on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Joby Aviation currently has an average rating of "Reduce" and a consensus price target of $13.81.

Joby Aviation Stock Down 3.1%

The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of -6.73 and a beta of 2.68. The company has a quick ratio of 17.98, a current ratio of 17.98 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average of $7.61 and a two-hundred day moving average of $8.93.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.02). The business had revenue of $38.64 million for the quarter, compared to analyst estimates of $30.20 million. Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%.The company's revenue was up 257493.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.41) earnings per share. As a group, sell-side analysts anticipate that Joby Aviation, Inc. will post -1 earnings per share for the current year.

Insider Transactions at Joby Aviation

In other news, insider Kate Dehoff sold 14,240 shares of the business's stock in a transaction on Tuesday, July 14th. The shares were sold at an average price of $7.73, for a total transaction of $110,075.20. Following the transaction, the insider directly owned 180,179 shares in the company, valued at $1,392,783.67. The trade was a 7.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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, CEO JoeBen Bevirt sold 15,788 shares of the company's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $8.92, for a total transaction of $140,828.96. Following the completion of the transaction, the chief executive officer directly owned 239,671 shares in the company, valued at $2,137,865.32. This trade represents a 6.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 306,309 shares of company stock worth $2,359,442. 20.35% of the stock is owned by company insiders.

Institutional Trading of Joby Aviation

A number of institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its position 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 valued at $155,671,000 after acquiring an additional 390,794 shares in the last quarter. State Street Corp lifted its stake in shares of Joby Aviation by 5.0% in 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Joby Aviation by 6.6% in 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 during the last quarter. 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 valued at $67,661,000 after buying an additional 1,223,412 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Joby Aviation by 194.5% in the 1st quarter. Renaissance Technologies LLC now owns 4,005,200 shares of the company's stock worth $33,083,000 after purchasing an additional 2,645,200 shares during the last quarter. Institutional investors and hedge funds 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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