Joby Aviation Inc [NYSE: JOBY] slipped around -0.4 points on Tuesday, while shares priced at $5.73 at the close of the session, down -6.53%. The company report on January 23, 2024 at 7:00 AM that Joby to Install First Electric Air Taxi Charger in Greater New York City Region.
Joby Aviation, Inc. (NYSE:JOBY), a company developing electric vertical take-off and landing (eVTOL) aircraft for commercial passenger service, today announced it has signed a definitive agreement with Helo Holdings, Inc. (“HHI”), to install the first air taxi charger in the greater New York City region at the company’s heliport in Kearny, New Jersey, located just a two minute flight from Manhattan.
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The agreement, which provides Joby with an operational base for its electric air taxi in the NYC region, builds on the partnership already established between Joby and HHI in November 2023, when Kearny served as a temporary home base for Joby’s aircraft. Joby completed several flights at Kearny in preparation for the Company’s exhibition flight in New York City at an event hosted by the New York City Economic Development Corporation and Mayor Eric Adams. The city has committed to electrify the Downtown Manhattan Heliport to enable electric air taxi operations.
Compared to the average trading volume of 5.25M shares, JOBY reached a trading volume of 4910793 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 $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 0.33 The Price to Book ratio for the last quarter was 3.59, with the Price to Cash per share for the same quarter was set at 1.60.
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 -3.86. With this latest performance, JOBY shares dropped by -16.96% in over the last four-week period, additionally sinking by -35.98% over the last 6 months – not to mention a rise of 32.03% 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 43.84, with the RSI for the last a single of trading hit 43.72, and the three-weeks RSI is set at 44.75 for Joby Aviation Inc [JOBY]. The present Moving Average for the last 50 days of trading for this stock 6.22, while it was recorded at 5.79 for the last single week of trading, and 6.53 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 22.78 and a Current Ratio set at 22.78.
Earnings analysis for Joby Aviation Inc [JOBY]
With the latest financial reports released by the company, Joby Aviation Inc posted -0.11/share EPS, while the average EPS was predicted by analysts to be reported at -0.16/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 31.20%. 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%.
Insider trade positions for Joby Aviation Inc [JOBY]
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%.
