Joby Aviation Inc. [NYSE: JOBY] loss -2.32% or -0.09 points to close at $3.79 with a heavy trading volume of 4074461 shares. The company report on February 22, 2023 that Joby Aviation Reports Fourth Quarter and Full Year 2022 Financial Results.
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Joby Aviation, Inc. (NYSE: JOBY), a California-based company developing all-electric aircraft for commercial passenger service, today announced its financial results for the fourth quarter and full year 2022. Please visit the Joby investor relations website https://ir.jobyaviation.com/ to view the fourth quarter 2022 shareholder letter. Today the company will host a live audio webcast of its conference call to discuss the results at 2:00 p.m. PT (5:00 p.m. ET).
It opened the trading session at $3.76, the shares rose to $3.82 and dropped to $3.685, the range by which the price of stock traded the whole day. The daily chart for JOBY points out that the company has recorded -32.68% loss over the past six months. However, it is still -20.32% lower than its most recent low trading price.
If we look at the average trading volume of 3.07M shares, JOBY reached to a volume of 4074461 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $6.88 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 2.80. 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.
Deutsche Bank have made an estimate for Joby Aviation Inc. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on March 07, 2023. While these analysts kept the previous recommendation, Raymond James raised their target price to Mkt Perform. The new note on the price target was released on July 27, 2022, representing the official price target for Joby Aviation Inc. stock. Previously, the target price had yet another raise to $7, while JP Morgan analysts kept a Neutral rating on JOBY stock.
The Average True Range (ATR) for Joby Aviation Inc. is set at 0.26 The Price to Book ratio for the last quarter was 1.98, with the Price to Cash per share for the same quarter was set at 1.66.
Trading performance analysis for JOBY stock
Joby Aviation Inc. [JOBY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.76. With this latest performance, JOBY shares dropped by -9.98% in over the last four-week period, additionally sinking by -32.68% over the last 6 months – not to mention a drop of -11.03% 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 37.52, with the RSI for the last a single of trading hit 30.38, and the three-weeks RSI is set at 41.72 for Joby Aviation Inc. [JOBY]. The present Moving Average for the last 50 days of trading for this stock 4.18, while it was recorded at 3.92 for the last single week of trading, and 4.68 for the last 200 days.
Joby Aviation Inc. [JOBY]: A deeper dive into fundamental analysis
Return on Equity for this stock declined to -20.80, with Return on Assets sitting at -18.56.
Joby Aviation Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 35.90 and a Current Ratio set at 35.90.
Joby Aviation Inc. [JOBY]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for JOBY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Joby Aviation Inc. go to -11.81%.
An analysis of insider ownership at Joby Aviation Inc. [JOBY]
There are presently around $731 million, or 28.40% of JOBY stock, in the hands of institutional investors. The top three institutional holders of JOBY stocks are: INTEL CORP with ownership of 43,540,786, which is approximately -5.43% of the company’s market cap and around 0.20% of the total institutional ownership; CAPRICORN INVESTMENT GROUP LLC, holding 40,955,596 shares of the stock with an approximate value of $155.22 million in JOBY stocks shares; and VANGUARD GROUP INC, currently with $92.86 million in JOBY stock with ownership of nearly 18.236% of the company’s market capitalization.
Positions in Joby Aviation Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 99 institutional holders increased their position in Joby Aviation Inc. [NYSE:JOBY] by around 20,398,956 shares. Additionally, 58 investors decreased positions by around 5,445,336 shares, while 51 investors held positions by with 167,120,584 shares. The mentioned changes placed institutional holdings at 192,964,876 shares, according to the latest SEC report filing. JOBY stock had 48 new institutional investments in for a total of 12,858,460 shares, while 21 institutional investors sold positions of 697,239 shares during the same period.