Joby Aviation (NYSE:JOBY) Achieves New 12-Month High – What's Next?

The shares of Joby Aviation, Inc. (NYSE:JOBY) reached a new 52-week high on January 4th, 2025. During trading, the stock peaked at $9.82 and was last seen at $9.77. This price point marks a significant increase from its previous closing rate of $8.09, with a trading volume of 29,006,756 shares.

Analyst Opinions

In recent assessments, various analysts have shared their views on Joby Aviation's stock. Notably, JPMorgan Chase & Co. revised their price target down from $6.00 to $5.00 while maintaining a “neutral” rating in a report dated October 29th. Meanwhile, Canaccord Genuity reduced their target from $10.50 to $9.75, endorsing a “buy” rating. Cantor Fitzgerald reaffirmed an “overweight” stance and set a target price of $10.00, while HC Wainwright reiterated a “buy” rating with a goal of $9.00 on December 18th. Additionally, Needham & Company LLC initiated coverage with a “buy” rating and a price target of $8.00 on November 19th. Overall, one analyst has given a hold rating, while four have classified the stock as a buy. As per MarketBeat.com, Joby Aviation currently enjoys a consensus rating of “Moderate Buy” with a consensus target price of $8.35.

Stock Performance Overview

Joby Aviation's market capitalization sits at $7.47 billion, with a PE ratio of -13.96 and a beta of 2.32, indicating high volatility. The stock's fifty-day moving average is $7.18, contrasted with the 200-day moving average of $6.04.

Joby Aviation disclosed its quarterly earnings results on November 6th, revealing an earnings per share (EPS) of ($0.21), missing analysts’ expectations of ($0.19) by $0.02. The revenue for the quarter amounted to $0.28 million, surpassing expectations which were at $0.06 million. The company reported a negative return on equity of 51.76% and a net margin of -42,844.57%. In the same quarter last year, Joby posted an EPS of ($0.13). Analysts project that for the current year, Joby Aviation will report an EPS of -0.69.

Insider Trading Activities

Recent transactions indicate insider trading activity as well. Insider Kate Dehoff sold 27,898 shares on October 16th at an average price of $5.50, totaling $153,439. This sale reduced her ownership to 199,413 shares, valued at approximately $1.1 million, marking a 12.27% decline in her stake. Another insider, Didier Papadopoulos, sold 6,005 shares on December 16th for $45,938. Following this, he maintains ownership of 54,776 shares worth about $419,036, reflecting a 9.88% decrease in his holding. Collectively, insiders sold 103,111 shares in the last quarter, valued at $674,055, and approximately 32.40% of the stock is held by corporate insiders.

Institutional Investor Engagement

Joby Aviation has witnessed a mix of institutional trading activities. For instance, Everence Capital Management Inc. initiated a new position valued at around $142,000 during the fourth quarter. Tidal Investments LLC increased its holdings by 13.7% in the third quarter, acquiring an additional 3,522 shares and raising their total to 29,246 shares valued at $147,000. Geode Capital Management LLC boosted its stake by 7.7%, owning 9,390,720 shares, worth approximately $47.2 million, after acquiring 670,852 additional shares. Other firms like Kensington Investment Counsel LLC and EP Wealth Advisors LLC also reported gains in their stakes in Joby Aviation. The total ownership by hedge funds and institutional investors stands at approximately 52.85%.

About Joby Aviation

Joby Aviation, Inc. is engaged in developing electric vertical takeoff and landing aircraft with the goal of establishing an aerial ridesharing service. They aim to create an efficient platform that will allow customers to easily book rides through an application.

Joby, Aviation, Stocks