Joby Aviation, Inc. (NYSE:JOBY – Get Free Report)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $6.61 and last traded at $6.7150, with a volume of 2332756 shares. The stock had previously closed at $6.84.
Wall Street Analyst Weigh In
JOBY has been the subject of several analyst reports. Morgan Stanley dropped 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 note on Wednesday, May 6th. Needham & Company LLC reduced their price objective on shares of Joby Aviation from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Barclays raised Joby Aviation to a “hold” rating in a research note on Wednesday, July 29th. Wall Street Zen downgraded Joby Aviation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Finally, HC Wainwright reiterated a “buy” rating on shares of Joby Aviation in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $13.81.
Get Our Latest Report on Joby Aviation
Joby Aviation Stock Performance
Joby Aviation (NYSE:JOBY – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). Joby Aviation had a negative net margin of 755.11% and a negative return on equity of 55.29%. The company had revenue of $38.64 million for the quarter, compared to the consensus estimate of $30.20 million. During the same quarter in the previous year, the firm posted ($0.41) earnings per share. The business’s revenue for the quarter was up 257493.3% compared to the same quarter last year. As a group, equities analysts anticipate that Joby Aviation, Inc. will post -1 earnings per share for the current year.
Insider Buying and Selling
In related news, insider Eric Allison sold 27,932 shares of Joby Aviation stock in a transaction on Monday, July 13th. The stock was sold at an average price of $7.53, for a total transaction of $210,327.96. Following the completion of the sale, the insider owned 710,396 shares of the company’s stock, valued at approximately $5,349,281.88. This trade represents a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Paul Cahill Sciarra sold 62,500 shares of Joby Aviation stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $7.96, for a total value of $497,500.00. Following the sale, the director owned 55,765,557 shares of the company’s stock, valued at approximately $443,893,833.72. This trade represents a 0.11% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 275,569 shares of company stock valued at $2,511,445 in the last ninety days. 20.35% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Corient Private Wealth LP grew its stake in shares of Joby Aviation by 68.6% during the second quarter. Corient Private Wealth LP now owns 34,306 shares of the company’s stock valued at $306,000 after buying an additional 13,955 shares during the last quarter. HighTower Advisors LLC boosted its position in Joby Aviation by 3.5% during the 2nd quarter. HighTower Advisors LLC now owns 920,410 shares of the company’s stock valued at $8,210,000 after acquiring an additional 30,928 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Joby Aviation by 806.6% during the 2nd quarter. California State Teachers Retirement System now owns 2,568,987 shares of the company’s stock worth $22,915,000 after acquiring an additional 2,285,620 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of Joby Aviation during the 2nd quarter worth approximately $60,000. Finally, Echo45 Advisors LLC bought a new position in shares of Joby Aviation in the 2nd quarter worth approximately $140,000. 52.85% of the stock is currently owned by institutional investors.
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.
Read More
- Five stocks we like better than Joby Aviation
- Medtronic’s Stars Are Aligning for a Price Recovery
- Analysts See Major Upside for This Top-10 Performing S&P 500 Stock
- Cook Out, Silicon In: Will Ternus Trigger Apple’s Edge AI Boom?
- Qualcomm’s AI Ambitions Run Into a Smartphone Reality Check
Receive News & Ratings for Joby Aviation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Joby Aviation and related companies with MarketBeat.com's FREE daily email newsletter.
