Taking the lead: Joby Aviation Inc. (JOBY)

Joby Aviation Inc. (NYSE: JOBY) stock jumped 4.94% on Friday to $6.16 against a previous-day closing price of $5.87. With 3.6 million shares changed hands, the volume of the stock remained lighter than its average volume of 5.63 million shares. During the session, the Airports & Air Services company that operates in wider Industrials sector, reached to the highest price of $6.22 whereas the lowest price it dropped to was $5.85. The 52-week range on JOBY shows that it touched its highest point at $14.33 and its lowest point at $3.61 during that stretch. It currently has a 1-year price target of $9.00.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of JOBY was up-trending over the past week, with a rise of 13.65%, but this was up by 20.55% over a month. Three-month performance surged to 13.44% while six-month performance rose 50.24%. The stock lost -38.03% in the past year, while it has lost -15.62% so far this year. A look at the trailing 12-month EPS for JOBY yields -1.25 with Next year EPS estimates of -0.56. For the next quarter, that number is -0.14. This implies an EPS growth rate of 63.00% for this year and -2.00% for next year.

Float and Shares Shorts:

At present, 579.09 million JOBY shares are outstanding with a float of 344.88 million shares on hand for trading. On Jul 14, 2022, short shares totaled 37.52 million, which was 6.19% higher than short shares on Jun 14, 2022. In addition to Mr. Paul Cahill Sciarra as the firm’s Exec. Chairman, Mr. JoeBen Bevirt serves as its Founder, CEO, Chief Architect, Pres & Director.

Institutional Ownership:

Through their ownership of 27.24% of JOBY’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 8.35% of JOBY, in contrast to 35.64% held by mutual funds. Shares owned by individuals account for 11.15%. As the largest shareholder in JOBY with 7.59% of the stake, Intel Corp. holds 46,040,786 shares worth 46,040,786. A second-largest stockholder of JOBY, The Vanguard Group, Inc., holds 14,309,018 shares, controlling over 2.36% of the firm’s shares. Baillie Gifford & Co. is the third largest shareholder in JOBY, holding 7,677,200 shares or 1.27% stake. With a 1.25% stake in JOBY, the Scottish Mortgage Investment Trus is the largest stakeholder. A total of 7,577,200 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 1.02% of JOBY stock, is the second-largest Mutual Fund holder. It holds 6,206,150 shares valued at 30.47 million. iShares Russell 2000 ETF holds 0.93% of the stake in JOBY, owning 5,606,722 shares worth 27.53 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for JOBY since 5 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With JOBY analysts setting a high price target of $12.00 and a low target of $6.00, the average target price over the next 12 months is $9.00. Based on these targets, JOBY could surge 94.81% to reach the target high and fall by -2.6% to reach the target low. Reaching the average price target will result in a growth of 46.1% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. JOBY will report FY 2022 earnings on 03/23/2023. Analysts have provided yearly estimates in a range of -$0.48 being high and -$0.62 being low. For JOBY, this leads to a yearly average estimate of -$0.56. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Joby Aviation Inc. surprised analysts by $0.01 when it reported -$0.11 EPS against a consensus estimate of -$0.12. The surprise factor in the prior quarter was $0.16. Based on analyst estimates, the high estimate for the next quarter is -$0.14 and the low estimate is -$0.16. The average estimate for the next quarter is thus -$0.15.

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