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Joby Aviation Inc.’s Stock Price Plummeted Recently, But There Might Be Trouble Ahead

Joby Aviation Inc. (NYSE:JOBY) traded at $4.14 at last check on Wednesday, November 23, made an upward move of 2.35% on its previous day’s price.

Looking at the stock we see that its previous close was $4.04 with the day’s price range being $3.95 – $4.12. In terms of its 52-week price range, JOBY has a high of $8.46 and a low of $3.61. The company’s stock has lost about -5.16% over that past 30 days.

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Joby Aviation Inc. has a market cap of $2.51 billion and is expected to release its quarterly earnings report on Nov 02, 2022. Estimates by analysts give the company expected earnings per share (EPS) of -$0.15, with the EPS growth for the year raised at -$0.52 for 2022 and -$0.61 for next year. These figures represent 14.80% and -17.30% growth in EPS for the two years respectively.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the JOBY stock, short term indicators assign the stock an average of 100% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 100% Sell.

Looking further, we note the current price level is -5.65% off its SMA20 and -8.77% from its 50-day simple moving average. The RSI (14) is pointing at 44.61 while the volatility over the past week is 4.14% and jumps to 5.63% over the past one month. The average price target for the stock over the next 12 months is $7.21, with the estimates having a low of $4.05 and a high of $11.00. These price ends are 2.17% and -165.7% off the today’s price level respectively, although investors could be excited at the prospect of a -44.93% if the JOBY share price touches on the median price of $6.00.

Coming back to Joby Aviation Inc. (NYSE:JOBY), we note that the average 3-month trading volume was 3.27 million, while that of the preceding 10-day period stands at 2.9 million. Current shares outstanding are 583.97 million.

The insiders hold 0.20% of the company’s shares while institutions hold 28.30%. The data shows that short shares as of Oct 13, 2022, stood at 32.37 million at a short ratio of 8.13. This represents a 5.33% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 29.58 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -44.66% down in year-to-date price movement.

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