Joby Aviation Inc (NYSE:JOBY) price on Wednesday, November 13, fall -6.65% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $5.90.
A look at the stock’s price movement, the close in the last trading session was $6.32, moving within a range at $5.78 and $6.295. The beta value (5-Year monthly) was 1.972. Turning to its 52-week performance, $7.69 and $4.50 were the 52-week high and 52-week low respectively. Overall, JOBY moved 8.86% over the past month.
Joby Aviation Inc’s market cap currently stands at around $4.51 billion, with investors looking forward to this quarter’s earnings report slated for in December.
The average forecast suggests down to a -93.50% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 400k, representing a -67.50% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that JOBY is a 100% Buy. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
4 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 2 recommend JOBY as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
JOBY’s current price about 8.08% and 9.54% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 57.13, while 7-day volatility ratio is 8.96% and 6.59% in the 30-day chart. Further, Joby Aviation Inc (JOBY) has a beta value of 2.06, and an average true range (ATR) of 0.39. Analysts have given the company’s stock an average 52-week price target of $7.875, forecast between a low of $6 and high of $10. Looking at the price targets, the low is -1.69% off current price level while to achieve the yearly target high, price needs to move -69.49%. Nonetheless, investors will most likely welcome a -33.47% jump to $7.875 which is the analysts’ median price.
If we refocus on Joby Aviation Inc (NYSE:JOBY), historical trading data shows that trading volumes averaged 18.01 over the past 10 days and 11.34 million over the past 3 months. The company’s latest data on shares outstanding shows there are 698.26 million shares.
The 45.52% of Joby Aviation Inc’s shares are in the hands of company insiders while institutional holders own 29.28% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 78.06 million on 2024-10-31, giving us a short ratio of 4.45. The data shows that as of 2024-10-31 short interest in Joby Aviation Inc (JOBY) stood at 1715.0000000000002 of shares outstanding, with shares short rising to 70.74 million registered in 2024-09-30. Current price change has pushed the stock -11.28% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the JOBY stock continues to rise going into the next quarter.
