JP Morgan slashes price target on Joby Aviation Inc [JOBY] – find out why.

Joby Aviation Inc [NYSE: JOBY] price plunged by -1.30 percent to reach at -$0.08. The company report on January 8, 2024 at 7:00 AM that Joby and Clay Lacy Partner to Bring First Electric Air Taxi Charger to Southern California.

Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today announced it has signed a definitive agreement with Clay Lacy Aviation to install Southern California’s first electric air taxi charger at John Wayne Airport (SNA) in Orange County, CA.

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The installation of electrical infrastructure to support Joby’s Global Electric Aviation Charging System (GEACS) comes as part of Clay Lacy’s planned $100 million redevelopment of its fixed-based operator (FBO) terminal at SNA, targeting completion in mid-2025.

A sum of 3110894 shares traded at recent session while its average daily volume was at 5.68M shares. Joby Aviation Inc shares reached a high of $6.17 and dropped to a low of $5.99 until finishing in the latest session at $6.07.

The one-year JOBY stock forecast points to a potential upside of 22.48. The average equity rating for JOBY stock is currently 2.71, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $7.83 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 2.71. 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 Underweight, with their previous recommendation back on July 19, 2023.

The Average True Range (ATR) for Joby Aviation Inc is set at 0.31 The Price to Book ratio for the last quarter was 3.80, with the Price to Cash per share for the same quarter was set at 1.60.

JOBY Stock Performance Analysis:

Joby Aviation Inc [JOBY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.51. With this latest performance, JOBY shares dropped by -7.61% in over the last four-week period, additionally sinking by -42.02% over the last 6 months – not to mention a rise of 70.51% 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 43.23, with the RSI for the last a single of trading hit 38.88, and the three-weeks RSI is set at 45.75 for Joby Aviation Inc [JOBY]. The present Moving Average for the last 50 days of trading for this stock 6.18, while it was recorded at 6.15 for the last single week of trading, and 6.42 for the last 200 days.

Insight into Joby Aviation Inc Fundamentals:

Return on Total Capital for JOBY is now -31.24, given the latest momentum, and Return on Invested Capital for the company is -20.59. Return on Equity for this stock declined to -20.80, with Return on Assets sitting at -18.56. When it comes to the capital structure of this company, Joby Aviation Inc [JOBY] has a Total Debt to Total Equity ratio set at 2.35. Additionally, JOBY Total Debt to Total Capital is recorded at 2.29, with Total Debt to Total Assets ending up at 2.11. Long-Term Debt to Equity for the company is recorded at 2.03, with the Long-Term Debt to Total Capital now at 1.98.

Reflecting on the efficiency of the workforce at the company, Joby Aviation Inc [JOBY] managed to generate an average of -$181,465 per employee.Joby Aviation Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 22.78 and a Current Ratio set at 22.78.

JOBY Stock EPS

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%.

Joby Aviation Inc [JOBY] Institutonal Ownership Details

The top three institutional holders of JOBY stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in JOBY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in JOBY stock with ownership which is approximately 5.8325%.