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What Are Joby Aviation Inc’s Short-Term Prospects?

Joby Aviation Inc (NYSE:JOBY) price closed higher on Friday, November 17, jumping 2.50% above its previous close.

A look at the daily price movement shows that the last close reads $5.99, with intraday deals fluctuated between $5.98 and $6.245. The company’s 5Y monthly beta was ticking 2.16. Taking into account the 52-week price action we note that the stock hit a 52-week high of $11.98 and 52-week low of $3.15. The stock subtracted -1.76% on its value in the past month.

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Joby Aviation Inc, which has a market valuation of $4.28 billion, is expected to release its quarterly earnings report Feb 19, 2024 – Feb 23, 2024.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give JOBY a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a Hold, while an average of long term indicators are currently assigning the stock as Hold.

Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 6 analysts have assigned JOBY a recommendation rating as follows: 1 rate it as a Hold; 3 advise Buy while 0 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the Joby Aviation Inc (JOBY) stock as Underweight, with 2 recommending Sell. In general, analysts have rated the stock Hold, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.

The overview shows that JOBY’s price is at present 8.72% off the SMA20 and -0.23% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 54.66, with weekly volatility standing at 6.65%. The indicator jumps to 6.17% when calculated based on the past 30 days. Joby Aviation Inc (NYSE:JOBY)’s beta value is holding at 2.15, while the average true range (ATR) indicator is currently reading 0.37. Considering analysts have assigned the stock a price target range of $5.00-$11.00 as the low and high respectively, we find the trailing 12-month average consensus price target to be $8.20. Based on this estimate, we see that current price is roughly 18.57% off the estimated low and -79.15% off the forecast high. Investors will no doubt be excited to see the share price fall to $10.00, which is the median consensus price, and at that level JOBY would be -62.87% from current price.

An analysis of the Joby Aviation Inc (NYSE:JOBY) stock in terms of its daily trading volume indicates that the 3-month average is 5.54 million. However, this figure increases on the past 10-day timeline to an average of 6.23 million.

Current records show that the company has 622.60M in outstanding shares. The insiders’ percentage holdings are 45.27% of outstanding shares while the percentage share held by institutions stands at 29.83%. The stats also highlight that short interest as of Oct 30, 2023, stood at 67.24 million shares, which puts the short ratio at the time at 12.12. From this we can glean that short interest is 9.66% of company’s current outstanding shares. Notably, we see that shares short in October rose slightly given the previous month’s figure stood at 59.74 million. But the 83.28% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.