Joby Aviation Inc (NYSE: JOBY) stock jumped 2.50% on Friday to $6.14 against a previous-day closing price of $5.99. With 5.56 million shares changed hands, the volume of the stock remained heavier than its average volume of 5.54 million shares. During the session, the Airports & Air Services company that operates in wider Industrials sector, reached to the highest price of $6.24 whereas the lowest price it dropped to was $5.98. The 52-week range on JOBY shows that it touched its highest point at $11.98 and its lowest point at $3.15 during that stretch. It currently has a 1-year price target of $8.20. Beta for the stock currently stands at 2.15.
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 18.30%, but this was down by -1.76% over a month. Three-month performance dropped to -13.52% while six-month performance rose 20.16%. The stock gained 43.79% in the past year, while it has gained 83.28% so far this year. A look at the trailing 12-month EPS for JOBY yields -0.74 with Next year EPS estimates of -0.67. For the next quarter, that number is -0.18. This implies an EPS growth rate of -80.25% for this year and 15.91% for next year.
Float and Shares Shorts:
At present, 622.60 million JOBY shares are outstanding with a float of 381.06 million shares on hand for trading. On Oct 30, 2023, short shares totaled 67.24 million, which was 9.66% higher than short shares on Sep 28, 2023. In addition to Mr. Paul Cahill Sciarra as the firm’s Executive Chairman of the Board, Mr. JoeBen Bevirt serves as its Founder, CEO, Chief Architect, President & Director.
Through their ownership of 29.57% of JOBY’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 31.30% of JOBY, in contrast to 17.44% held by mutual funds. Shares owned by individuals account for 12.71%. As the largest shareholder in JOBY with 7.36% of the stake, Baillie Gifford & Co. holds 51,053,005 shares worth 51,053,005. A second-largest stockholder of JOBY, Intel Corp., holds 33,706,461 shares, controlling over 4.86% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in JOBY, holding 33,552,608 shares or 4.84% stake. With a 1.59% stake in JOBY, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 11,051,109 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 1.29% of JOBY stock, is the second-largest Mutual Fund holder. It holds 8,938,443 shares valued at 47.11 million. Scottish Mortgage Investment Trus holds 1.09% of the stake in JOBY, owning 7,577,200 shares worth 39.93 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for JOBY since 0 analysts follow the stock currently. 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 $11.00 and a low target of $5.00, the average target price over the next 12 months is $8.20. Based on these targets, JOBY could surge 79.15% to reach the target high and fall by -18.57% to reach the target low. Reaching the average price target will result in a growth of 33.55% from current levels.
Summary of Insider Activity:
Insiders traded JOBY stock several times over the past three months with 13 Buys and 18 Sells. In these transactions, 166,836 shares were bought while 306,200 shares were sold. The number of buy transactions has increased to 75 while that of sell transactions has risen to 70 over the past year. The total number of shares bought during that period was 1,423,618 while 1,952,435 shares were sold.