Joby Aviation, Inc. (NYSE:JOBY – Get Free Report)’s stock price traded down 14.2% during mid-day trading on Friday . The stock traded as low as $9.47 and last traded at $9.56. 38,165,693 shares traded hands during mid-day trading, an increase of 36% from the average session volume of 28,078,498 shares. The stock had previously closed at $11.14.
Analyst Ratings Changes
A number of research analysts have recently commented on the stock. Oppenheimer set a $18.00 target price on shares of Joby Aviation in a research report on Thursday, February 26th. Weiss Ratings lowered shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a research note on Wednesday, May 6th. Canaccord Genuity Group cut their price objective on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a report on Thursday, May 7th. Finally, Wall Street Zen raised shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $13.06.
View Our Latest Research Report on Joby Aviation
Joby Aviation Stock Down 14.2%
Joby Aviation (NYSE:JOBY – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. The business had revenue of $24.25 million during the quarter, compared to the consensus estimate of $20.17 million. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. During the same quarter last year, the company earned ($0.11) earnings per share. Equities research analysts anticipate that Joby Aviation, Inc. will post -0.83 EPS for the current fiscal year.
Insider Activity at Joby Aviation
In other news, CEO Joeben Bevirt sold 421,019 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $10.38, for a total transaction of $4,370,177.22. Following the transaction, the chief executive officer owned 31,678,802 shares of the company’s stock, valued at approximately $328,825,964.76. This trade represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Cahill Sciarra sold 416,666 shares of Joby Aviation stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $12.02, for a total value of $5,008,325.32. Following the completion of the transaction, the director owned 55,911,391 shares of the company’s stock, valued at $672,054,919.82. This trade represents a 0.74% 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. Insiders sold 1,505,784 shares of company stock worth $15,457,801 over the last 90 days. Company insiders own 28.50% of the company’s stock.
Hedge Funds Weigh In On Joby Aviation
Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Joby Aviation by 13.2% during the third quarter. Vanguard Group Inc. now owns 49,948,325 shares of the company’s stock valued at $806,166,000 after purchasing an additional 5,828,189 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of 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 buying an additional 2,645,200 shares during the last quarter. Man Group plc acquired a new position in shares of Joby Aviation in the 3rd quarter valued at about $40,283,000. Norges Bank bought a new stake in shares of Joby Aviation during the 4th quarter valued at about $32,269,000. Finally, Clear Street Group Inc. bought a new stake in shares of Joby Aviation during the 3rd quarter valued at about $36,264,000. 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.
Featured Stories
- Five stocks we like better than Joby Aviation
- 3 ETFs For the Coming Genomics Revolution
- The Energy Trade Is Bigger Than Oil Prices: 3 Stocks to Buy and 2 to Sell
- Samsara Just Answered The AI Question—Is Wall Street Ready To Listen?
- IREN’s 800MW Bet Flips the AI Power Switch
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.
-logo-1200x675.jpg){kind=logo}
