Market Analysts see Joby Aviation Inc. [JOBY] gaining to $7. Time to buy?

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Joby Aviation Inc. [NYSE: JOBY] traded at a low on 05/09/22, posting a -12.38 loss after which it closed the day’ session at $4.67. The company report on May 3, 2022 that TMAP Joins Joby and SKT in Partnership to Bring Air Taxi Service to South Korea.

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Joby Aviation, Inc. (NYSE:JOBY), a California-based company developing all-electric aircraft for commercial passenger service, today confirmed that TMAP, South Korea’s largest mobility platform, will join Joby’s partnership with SK Telecom to bring aerial ridesharing services to Korea.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220503005985/en/.

The results of the trading session contributed to over 8450242 shares changing hands. Over the past one week, the price volatility of Joby Aviation Inc. stands at 7.75% while the volatility over the past one month is 7.01%.

The market cap for JOBY stock reached $2.80 billion, with 568.80 million shares outstanding and 308.82 million shares in the current float. Compared to the average trading volume of 6.93M shares, JOBY reached a trading volume of 8450242 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Joby Aviation Inc. [JOBY]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for JOBY shares is $10.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on JOBY stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Joby Aviation Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 28, 2022. While these analysts kept the previous recommendation, Deutsche Bank raised their target price to Hold. The new note on the price target was released on April 11, 2022, representing the official price target for Joby Aviation Inc. stock. Previously, the target price had yet another raise to $10, while Cantor Fitzgerald analysts kept a Overweight rating on JOBY stock.

The Average True Range (ATR) for Joby Aviation Inc. is set at 0.41 The Price to Book ratio for the last quarter was 2.02, with the Price to Cash per share for the same quarter was set at 2.16.

How has JOBY stock performed recently?

Joby Aviation Inc. [JOBY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.87. With this latest performance, JOBY shares dropped by -14.00% in over the last four-week period, additionally sinking by -53.11% over the last 6 months – not to mention a drop of -52.78% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for JOBY stock in for the last two-week period is set at 38.99, with the RSI for the last a single of trading hit 33.37, and the three-weeks RSI is set at 42.32 for Joby Aviation Inc. [JOBY]. The present Moving Average for the last 50 days of trading for this stock 5.35, while it was recorded at 5.25 for the last single week of trading, and 7.39 for the last 200 days.

Joby Aviation Inc. [JOBY]: Deeper insight into the fundamentals

Joby Aviation Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 95.20 and a Current Ratio set at 95.20.

Insider trade positions for Joby Aviation Inc. [JOBY]

There are presently around $832 million, or 26.20% of JOBY stock, in the hands of institutional investors. The top three institutional holders of JOBY stocks are: INTEL CORP with ownership of 46,040,786, which is approximately 0% of the company’s market cap and around 49.48% of the total institutional ownership; CAPRICORN INVESTMENT GROUP LLC, holding 40,955,596 shares of the stock with an approximate value of $218.29 million in JOBY stocks shares; and BAUPOST GROUP LLC/MA, currently with $51.28 million in JOBY stock with ownership of nearly -3.792% of the company’s market capitalization.

Positions in Joby Aviation Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 75 institutional holders increased their position in Joby Aviation Inc. [NYSE:JOBY] by around 54,134,189 shares. Additionally, 43 investors decreased positions by around 13,115,324 shares, while 25 investors held positions by with 88,917,974 shares. The mentioned changes placed institutional holdings at 156,167,487 shares, according to the latest SEC report filing. JOBY stock had 45 new institutional investments in for a total of 44,457,702 shares, while 25 institutional investors sold positions of 7,376,842 shares during the same period.