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Joby Aviation Inc (NYSE: JOBY) Still Needs To Convince Analysts?

Joby Aviation Inc (NYSE:JOBY) price closed higher on Friday, February 09, jumping 5.93% below its previous close.

A look at the daily price movement shows that the last close reads $7.83. The company’s 5Y monthly beta was ticking 2.11. 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 $3.68. The stock subtracted -2.31% on its value in the past month.

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Joby Aviation Inc, which has a market valuation of $4.13 billion, is expected to release its quarterly earnings report Feb 21, 2024. Analysts tracking JOBY have forecast the quarterly EPS to shrink by -0.18 per share this quarter, while the same analysts predict the annual EPS to hit -$0.81 for the year 2024 and up to -$0.72 for 2024. In this case, analysts estimate an annual EPS growth of -84.10% for the year and 11.10% for the next year.

Staying with the analyst view, there is a consensus estimate of $1.2 million for the company’s annual revenue in 2023.

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 50% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.

The overview shows that JOBY’s price is at present 100.00% off the SMA20. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 50.93, with weekly volatility standing at 4.68%. The indicator jumps to 5.23% when calculated based on the past 30 days. Joby Aviation Inc (NYSE:JOBY)’s beta value is holding at 2.12, while the average true range (ATR) indicator is currently reading 0.31.

An analysis of the Joby Aviation Inc (NYSE:JOBY) stock in terms of its daily trading volume indicates that the 3-month average is 0.94. However, this figure increases on the past 10-day timeline to an average of 4.36 million.

Current records show that the company has 622.60M in outstanding shares. The insiders’ percentage holdings are 45.26% of outstanding shares while the percentage share held by institutions stands at 30.50%. The stats also highlight that short interest as of Jan 31, 2024, stood at 74.14 million shares, which puts the short ratio at the time at 16.79. From this we can glean that short interest is 10.65% of company’s current outstanding shares. Notably, we see that shares short in January rose slightly given the previous month’s figure stood at 73.7 million. But the -10.83% downside, 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.