Joby Aviation Inc: Why Investors Shouldn’t Get Rid Of JOBY Stock In 2024

In the last trading session, 4.12 million shares of the Joby Aviation Inc (NYSE:JOBY) were traded, and its beta was 2.06. Most recently the company’s share price was $5.14, and it changed around -$0.22 or -4.10% from the last close, which brings the market valuation of the company to $3.61B. JOBY currently trades at a discount to its 52-week high of $11.98, offering almost -133.07% off that amount. The share price’s 52-week low was $3.72, which indicates that the current value has risen by an impressive 27.63% since then. We note from Joby Aviation Inc’s average daily trading volume that its 10-day average is 4.68 million shares, with the 3-month average coming to 5.09 million.

Joby Aviation Inc (NYSE:JOBY) trade information

Instantly JOBY has showed a red trend with a performance of -4.10% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -22.71% year-to-date, but still down -1.53% over the last five days. On the other hand, Joby Aviation Inc (NYSE:JOBY) is -8.54% down in the 30-day period. We can see from the shorts that 73.84 million shares have been sold at a short interest cover period of 12.79 day(s).

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The consensus price target as assigned by Wall Street analysts is $6, which translates to bulls needing to increase their stock price by 14.33% from its current value. Analyst projections state that JOBY is forecast to be at a low of $6 and a high of $6.

Joby Aviation Inc (JOBY) estimates and forecasts

Joby Aviation Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -19.81 percent over the past six months and at a 8.86% annual growth rate that is well above the industry average of -2.50%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 10.50% in revenue this quarter, and will report an increase of 60.00% in the next quarter. The year-over-year growth rate is expected to be 151.60%, up from the previous year.

2 analysts expect Joby Aviation Inc to make $250k in revenue for the quarter ending Jun 2024.

Joby Aviation Inc earnings are expected to increase by 6.11% in 2024, but the outlook is negative -11.81% per year for the next five years.

JOBY Dividends

Joby Aviation Inc’s next quarterly earnings report is expected to be released on February 21.

Joby Aviation Inc (NYSE:JOBY)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 36.88% of Joby Aviation Inc shares, and 41.50% of them are in the hands of institutional investors. The stock currently has a share float of 65.74%. Joby Aviation Inc stock is held by 315 institutions, with Baillie Gifford and Company being the largest institutional investor. By Jun 29, 2023, it held 7.48% of the shares, which is about 51.87 million shares worth $532.21 million.

Capricorn Investment Group LLC, with 5.90% or 40.96 million shares worth $420.2 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 8.98 million shares worth $92.17 million, making up 1.29% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 7.33 million shares worth around $75.21 million, which represents about 1.06% of the total shares outstanding.