On October 13, Joby Aviation, Inc. fell 5.06% in regular trading, trading at $5.165 per share, with Turnover of $71.33 million. The decline follows sustained pressure from Barclays' downgrade of the stock to Underweight from Equalweight, issued on October 9, which has continued to dominate trading sentiment. FactSet data shows the average analyst rating remains Hold with a mean price target of $10.31, but the negative rating action has overshadowed recent operational milestones, including a $45 million Air Force contract modification, the first autonomous cross-country flight, and a partnership to relaunch seasonal jet service between New York and South Florida.
Joby Aviation, Inc., a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides. Joby Aviation, Inc. was founded in 2009 and is headquartered in Santa Cruz, California.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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