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Joby Aviation Inc. (NYSE: JOBY): What Matters Now

Joby Aviation Inc. (NYSE:JOBY) shares, rose in value on Friday, August 05, with the stock price down by -2.75% to the previous day’s close as strong demand from buyers drove the stock to $6.77.

Actively observing the price movement in the recent trading, the stock is buoying the session at $6.96, falling within a range of $6.13 and $7.03. Referring to stock’s 52-week performance, its high was $14.33, and the low was $3.61. On the whole, JOBY has fluctuated by 38.10% over the past month.

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With the market capitalization of Joby Aviation Inc. currently standing at about $4.13 billion, investors are eagerly awaiting this quarter’s results, scheduled for Nov 11, 2021. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.14, which is expected to increase to -$0.12 for fiscal year -$0.52 and then to about -$0.56 by fiscal year 2023. Data indicates that the EPS growth is expected to be 14.80% in 2023, while the next year’s EPS growth is forecast to be -7.70%.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that JOBY’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a 50% Buy.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of JOBY currently trading nearly 23.79% and 27.49% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 71.37, while the 7-day volatility ratio is showing 7.67% which for the 30-day chart, stands at 5.62%. Furthermore, Joby Aviation Inc. (JOBY)’s average true range (ATR) is 0.33.

Data on historical trading for Joby Aviation Inc. (NYSE:JOBY) indicates that the trading volumes over the past 10 days have averaged 3.3 million and over the past 3 months, they’ve averaged 5.69 million. According to company’s latest data on outstanding shares, there are 579.09 million shares outstanding.

Nearly 0.10% of Joby Aviation Inc.’s shares belong to company insiders and institutional investors own 27.20% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 37.52 million shares as on Jul 14, 2022, resulting in a short ratio of 6.82. According to the data, the short interest in Joby Aviation Inc. (JOBY) stood at 6.19% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 32.35 million. The stock has fallen by -4.66% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the JOBY stock heading into the next quarter.

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