The stock of Joby Aviation Inc. (NYSE:JOBY) last traded at $7.43, down -0.54% from the previous session.
Data from the available sources indicates that Joby Aviation Inc. (NYSE:JOBY) is covered by 7 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $11.00 and a low of $6.00, we find $8.50. Given the previous closing price of $7.47, this indicates a potential upside of 13.79 percent. JOBY stock price is now -10.46% away from the 50-day moving average and 38.65% away from the 200-day moving average. The market capitalization of the company currently stands at $5.20B.
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In total, 2 analysts have assigned it a hold rating, and 3 have given it a buy rating. Brokers who have rated the stock have averaged $8.33 as their price target over the next twelve months.
With the price target enhanced from $5 to $6, JP Morgan Downgraded its rating from Neutral to Underweight for Joby Aviation Inc. (NYSE: JOBY).
In other news, Bowles Gregory, insider sold 7,749 shares of the company’s stock on Aug 23. The stock was sold for $56,413 at an average price of $7.28. Upon completion of the transaction, the insider now directly owns 15,245 shares in the company, valued at $0.11 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 22, Bowles Gregory sold 3,407 shares of the business’s stock. A total of $24,326 was realized by selling the stock at an average price of $7.14. This leaves the insider owning 22,994 shares of the company worth $0.17 million. Insiders disposed of 12,003,205 shares of company stock worth roughly $89.18 million over the past 1 year. A total of 38.77% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in JOBY stock. A new stake in Joby Aviation Inc. shares was purchased by IEQ CAPITAL, LLC during the first quarter worth $21,101,000. MITSUBISHI UFJ TRUST & BANKING CORP invested $10,534,000 in shares of JOBY during the first quarter. In the first quarter, LINGOTTO INVESTMENT MANAGEMENT LLP acquired a new stake in Joby Aviation Inc. valued at approximately $6,754,000. CORRIENTE ADVISORS, LLC acquired a new stake in JOBY for approximately $3,566,000. JUMP FINANCIAL, LLC purchased a new stake in JOBY valued at around $2,935,000 in the second quarter.
During the past 12 months, Joby Aviation Inc. has had a low of $3.15 and a high of $11.98. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 27.80, and a quick ratio of 27.80. The fifty day moving average price for JOBY is $8.30 and a two-hundred day moving average price translates $5.37 for the stock.
The latest earnings results from Joby Aviation Inc. (NYSE: JOBY) was released for Jun, 2023. According to the Airports & Air Services Company, earnings per share came in at -$0.45, missing analysts’ expectations of -$0.15 by -0.3. This compares to -$0.09 EPS in the same period last year. The company reported revenue of $115.97 million for the quarter, compared to $99.38 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 16.69 percent.
Joby Aviation Inc.(JOBY) Company Profile
Joby Aviation, Inc., a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides. Joby Aviation, Inc. was founded in 2009 and is headquartered in Santa Cruz, California.
