In yesterday’s Wall Street session, Joby Aviation Inc (NYSE:JOBY) shares traded at $5.75, down -8.00% from the previous session.
As of this writing, 6 analysts cover Joby Aviation Inc (NYSE:JOBY). 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 $10.00. Given the previous closing price of $6.25, this indicates a potential upside of 60.0 percent. JOBY stock price is now -15.72% away from the 50-day moving average and -2.02% away from the 200-day moving average. The market capitalization of the company currently stands at $3.99B.
There are 1 analysts who have given it a hold rating, whereas 3 have given it a buy rating. Brokers who have rated the stock have averaged $8.60 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, Allison Eric, Head of Product sold 26,932 shares of the company’s stock on Oct 13. The stock was sold for $165,093 at an average price of $6.13. Upon completion of the transaction, the Head of Product now directly owns 364,892 shares in the company, valued at $2.1 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 13, DeHoff Kate sold 5,637 shares of the business’s stock. A total of $34,555 was realized by selling the stock at an average price of $6.13. This leaves the insider owning 165,550 shares of the company worth $0.95 million. Insiders disposed of 1,937,942 shares of company stock worth roughly $11.14 million over the past 1 year. A total of 45.75% 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 $16,330,000. MITSUBISHI UFJ TRUST & BANKING CORP invested $8,152,000 in shares of JOBY during the first quarter. In the first quarter, RHEOS CAPITAL WORKS INC. acquired a new stake in Joby Aviation Inc valued at approximately $5,549,000. LINGOTTO INVESTMENT MANAGEMENT LLP acquired a new stake in JOBY for approximately $5,227,000. CORRIENTE ADVISORS, LLC purchased a new stake in JOBY valued at around $2,760,000 in the second quarter. In total, there are 239 active investors with 27.77% ownership of the company’s stock.
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 0.02, a current ratio of 27.78, and a quick ratio of 27.78. The fifty day moving average price for JOBY is $6.78 and a two-hundred day moving average price translates $5.88 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.
