- The JOBY stock price has declined by more than 14% in the last month.
- Joby Aviation Inc. share’s technicals are not supporting for any bullish move.
Joby Aviation Inc. is an aviation company in the United States backed by venture capitalists. It is developing an electrical VTOL that is also known as Electric Vertical Takeoff and Landing aircraft. It has its headquarters in Santa Cruz, California.
The current CEO of the company is JoeBen Bevirt. The chairman of the company is Paul Sciarra and the company has more than 1.4K employees. Joby Aviation was founded in the year 2009.
Joby Aviation Inc. is very new in the market and has spent most of its time in research. The company has yet not sold any of its products as it is under development.
The JOBY stock has a beta of 2.59, which makes its returns more than twice as volatile as the overall market. Currently, it has 376.455M shares floating in the market and also has a market cap of $4.281B.
The investors have not been rewarded with any dividend for holding the JOBY stock because the company is still under development. The stock is trading with a negative EPS of -0.88 USD. The average trading volume of the stock is 6.28M and the ROE is negative to -48.73%. The price-to-book value of Joby Avaiation Inc. is 3.62. It indicates that the stock is trading three times its book value.
Joby Aviation Inc. Stock Performance Analysis
Joby Aviation Inc. has not come with its product in the market yet due to which it hasn’t made any revenue throughout the years. It has rather incurred various expenses, which makes its net income negative. Currently, the company is at a debt of $27.32M as of the year ending 2022. In the second quarter, the market cap of the company has advanced by 117.40% year-on-year. The free and the ROA of the company have also advanced in the second quarter.
Performance Analysis of JOBY Stock
Joby Aviation Inc. has not started its business yet. Consequently, there is not enough data for the financial analysis of the company. The experts are neutral on the stock. The JOBY stock is trading at much lower levels than its IPO price and also has declined in recent times. As a result, the technicals for the stock on charts have become bearish.
Will the JOBY Stock Decline Further Or Buyers Will Take Charge?
The JOBY share showed a huge spike in the higher direction a few months ago. Despite that, the share faced huge sell-off and profit bookings, which led to a huge decline in price. The stock has also broken below the crucial baseline. That indicates the change of market character to bearish.
Due to a huge decline in the share price of JOBY stock, the RSI has declined below the 50 level. It is creating volatility below the same. The share price has also declined below the EMAs, which indicates the pessimism in buying sentiment for the stock.
Conclusion
The technicals for the JOBY stock are highly negative as the share price has broken below the crucial support. Indicators like the EMA and the RSI are also bearish on the daily timeframe. Since the company is new in the market and is still in the research stage, judging it by its financials won’t be adequate.
Therefore, if the JOBY stock makes any bullish pattern or the price breaks above the level of $7.50, we might witness some upward move in the stock.
Technical Levels
- Support levels- $3.10 and $5.00
- Resistance levels- $7.50 and $11.00
Disclaimer
The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.