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

Joby Aviation, Inc. (NYSE:JOBY)’s share price hit a new 52-week low on Wednesday . The company traded as low as $6.61 and last traded at $6.5850, with a volume of 3757540 shares. The stock had previously closed at $6.84.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on JOBY. Susquehanna set a $18.00 target price on shares of Joby Aviation in a research note on Thursday, August 6th. HC Wainwright reissued a “buy” rating on shares of Joby Aviation in a research report on Thursday, August 6th. Needham & Company LLC decreased their price target on shares of Joby Aviation from $18.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Barclays raised Joby Aviation to a “hold” rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings upgraded Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Two equities research 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, Joby Aviation currently has an average rating of “Reduce” and a consensus target price of $13.81.

Joby Aviation Stock Performance

The firm’s 50 day moving average price is $7.61 and its 200-day moving average price is $8.93. The firm has a market cap of $6.55 billion, a price-to-earnings ratio of -6.73 and a beta of 2.68. The company has a debt-to-equity ratio of 0.40, a current ratio of 17.98 and a quick ratio of 17.98.

Joby Aviation (NYSE:JOBY) last released its earnings results on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $30.20 million. During the same quarter in the previous year, the company earned ($0.41) earnings per share. Joby Aviation’s revenue for the quarter was up 257493.3% compared to the same quarter last year. On average, analysts anticipate that Joby Aviation, Inc. will post -1 earnings per share for the current year.

Insider Buying and Selling at Joby Aviation

In related news, insider Kate Dehoff sold 14,240 shares of Joby Aviation stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $7.73, for a total transaction of $110,075.20. Following the sale, the insider directly owned 180,179 shares of the company’s stock, valued at $1,392,783.67. This trade represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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, insider Eric Allison sold 27,932 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $7.53, for a total value of $210,327.96. Following the completion of the transaction, the insider directly 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 position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 306,309 shares of company stock valued at $2,359,442 in the last three months. Company insiders own 20.35% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC raised its stake in shares of Joby Aviation by 46.6% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 57,994 shares of the company’s stock valued at $517,000 after buying an additional 18,427 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Joby Aviation by 37.8% during the 2nd quarter. NewEdge Advisors LLC now owns 53,240 shares of the company’s stock valued at $475,000 after acquiring an additional 14,594 shares in the last quarter. Arizona State Retirement System increased its stake in Joby Aviation by 10.2% in the second quarter. Arizona State Retirement System now owns 67,557 shares of the company’s stock valued at $603,000 after acquiring an additional 6,258 shares during the period. Corient Private Wealth LP increased its stake in Joby Aviation by 68.6% in the second quarter. Corient Private Wealth LP now owns 34,306 shares of the company’s stock valued at $306,000 after acquiring an additional 13,955 shares during the period. Finally, HighTower Advisors LLC raised its position in Joby Aviation by 3.5% in the second quarter. HighTower Advisors LLC now owns 920,410 shares of the company’s stock worth $8,210,000 after purchasing an additional 30,928 shares in the last quarter. 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.