The Vanguard Group, Inc. recently announced the acquisition of new stake in Joby Aviation Inc (NYSE:JOBY). The institutional investor has increased its shareholding in the Industrials company by 20.59% to 33.55 million shares with purchase of 5.73 million shares. This fresh investment now brings its stake to 4.82% valued currently at $199.97 million. In addition, BlackRock Fund Advisors raised its holdings by 0.58 million to 18.99 million shares. And Geode Capital Management LLC has lifted its position by 8.50% or 0.51 million shares – to 6.52 million shares.
With over 7.33 million Joby Aviation Inc (JOBY) shares trading Tuesday and a closing price of $6.18 on the day, the dollar volume was approximately $45.32 million. The shares have shown a negative half year performance of -39.59% and its price on 01/02/24 lost nearly -7.07%. Currently, there are 622.60M common shares owned by the public and among those 382.79M shares have been available to trade.
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Insiders at the company have transacted a total of 149 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 78 of these insider trades were purchases, accounting for 1,476,297 shares. Insider sales of the common stock occurred on 71 occasions, with total insider shares sold totaling 2,177,602 shares.
The top 3 mutual fund holders in Joby Aviation Inc are Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and Scottish Mortgage Investment Trus. Vanguard Total Stock Market ETF owns 11.07 million shares of the company’s stock, all valued at over $65.97 million. The company bought an additional 17512.0 shares recently to bring their total holdings to about 1.59% of the shares outstanding. Vanguard Small Cap Index Fund bought 58775.0 shares to see its total holdings expand to 9.0 million shares valued at over $53.62 million and representing 1.29% of the shares outstanding. Scottish Mortgage Investment Trus now owns shares totaling to 1.09% of the shares outstanding.
Shares of Joby Aviation Inc (NYSE: JOBY) opened at $6.62, down -$0.03 from a prior closing price of $6.65. However, the script later moved the day high at 6.62, down -7.07%. The company’s stock has a 5-day price change of -10.43% and -0.16% over the past three months. JOBY shares are trading -7.07% year to date (YTD), with the 12-month market performance up to 82.30% higher. It has a 12-month low price of $3.22 and touched a high of $11.98 over the same period. JOBY has an average intraday trading volume of 5.63 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.77%, 0.90%, and -2.53% respectively.
Institutional ownership of Joby Aviation Inc (NYSE: JOBY) shares accounts for 29.89% of the company’s 622.60M shares outstanding. Mutual fund holders own 17.20%, while other institutional holders and individual stakeholders account for 31.11% and 12.91% respectively.
It has a market capitalization of $4.30B and a beta (3y monthly) value of 2.13. The earnings-per-share (ttm) stands at -$0.74. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.40% over the week and 5.27% over the month.
Analysts forecast that Joby Aviation Inc (JOBY) will achieve an EPS of -$0.18 for the current quarter, -$0.18 for the next quarter and -$0.72 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.2 while analysts give the company a high EPS estimate of -$0.17. Comparatively, EPS for the current quarter was -$0.11 a year ago. Earnings per share for the fiscal year are expected to decrease by -79.86%, and 14.91% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Joby Aviation Inc (JOBY) as a “Moderate Buy” at a consensus score of 2.71. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 2 of the 7 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the JOBY, a number of firms have released research notes about the stock. JP Morgan stated their Underweight rating for the stock in a research note on July 19, 2023, with the firm’s price target at $5-$6.
