Joby Aviation, Inc. (NYSE:JOBY) Stock Has Consensus Price Target of $11.33 According to Analysts

Shares of Joby Aviation, Inc. (NYSE:JOBY) have been assigned a consensus recommendation of “Reduce” from the nine ratings firms that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $11.33.

A number of analysts recently issued reports on the stock. Canaccord Genuity Group raised shares of Joby Aviation from a “hold” rating to a “buy” rating and lowered their price target for the stock from $11.50 to $7.00 in a report on Thursday, November 5th. Barclays started coverage on shares of Joby Aviation in a report on Friday, October 9th. They issued an “underweight” rating and a $4.00 price objective for the company. Needham & Company LLC decreased their price objective on shares of Joby Aviation from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, November 5th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Joby Aviation in a research report on Monday, September 21st. Finally, HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Joby Aviation in a research note on Monday, September 21st.

Joby Aviation Stock Up 3.9%

Shares of NYSE:JOBY opened at $6.16 on Friday. Joby Aviation has a 12-month low of $4.43 and a 12-month high of $17.10. The business has a 50 day moving average of $5.71 and a two-hundred day moving average of $8.40. 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 issued its quarterly earnings data on Wednesday, November 4th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.03. The business had revenue of $55.09 million for the quarter, compared to analysts’ expectations of $38.95 million. Joby Aviation had a negative net margin of 462.85% and a negative return on equity of 48.49%. The business’s revenue was up 143.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.48) EPS. As a group, research analysts expect that Joby Aviation will post -0.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Eric Allison sold 27,593 shares of the stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $5.09, for a total value of $140,448.37. Following the completion of the transaction, the insider directly owned 745,120 shares of the company’s stock, valued at approximately $3,792,660.80. This represents a 3.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO JoeBen Bevirt sold 606,667 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $6.19, for a total value of $3,755,268.73. Following the completion of the transaction, the chief executive officer owned 57,207,377 shares in the company, valued at $354,113,663.63. The trade was a 1.05% decrease in their position. 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 have sold a total of 1,017,628 shares of company stock worth $6,340,090 in the last ninety days. 20.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Joby Aviation

Large investors have recently modified their holdings of the business. Silver Oak Securities Incorporated lifted its stake in shares of Joby Aviation by 2,246.9% in the third quarter. Silver Oak Securities Incorporated now owns 16,921 shares of the company’s stock worth $100,000 after buying an additional 16,200 shares in the last quarter. Harbour Investments Inc. increased its holdings in shares of Joby Aviation by 6.7% in the third quarter. Harbour Investments Inc. now owns 29,998 shares of the company’s stock valued at $181,000 after purchasing an additional 1,873 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Joby Aviation by 33.3% in the third quarter. Russell Investments Group Ltd. now owns 470,518 shares of the company’s stock valued at $2,847,000 after purchasing an additional 117,644 shares during the last quarter. Fifth Third Bancorp lifted its position in Joby Aviation by 102.0% during the third quarter. Fifth Third Bancorp now owns 890,411 shares of the company’s stock worth $5,387,000 after buying an additional 449,549 shares in the last quarter. Finally, Lido Advisors LLC lifted its position in Joby Aviation by 20.1% during the third quarter. Lido Advisors LLC now owns 14,685 shares of the company’s stock worth $89,000 after buying an additional 2,457 shares in the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

About Joby Aviation

Joby Aviation, Inc develops electric vertical takeoff and landing (eVTOL) aircraft for passenger transportation. Its aircraft are designed to take off and land vertically, then fly like an airplane, with the goal of providing quiet, zero-operating-emission air taxi services for urban and regional trips.

Founded in 2009 by JoeBen Bevirt, the California-based company is working to develop and manufacture its aircraft and establish the operations needed to offer commercial passenger flights.