Jim Cramer Is Bearish On These 5 Stocks

In this article, we discuss 5 stocks that Jim Cramer is bearish on. If you want to see more stocks in this selection, check out Jim Cramer Is Bearish On These 10 Stocks. 

5. Joby Aviation, Inc. (NYSE:JOBY)

Number of Hedge Fund Holders: 19

Joby Aviation, Inc. (NYSE:JOBY) is a California-based vertically integrated air mobility company that specializes in manufacturing electric vertical takeoff and landing aircrafts optimized to deliver air transportation as a service. Joby Aviation, Inc. (NYSE:JOBY) is one of the stocks that Jim Cramer is lately bearish on. He mentioned the company in a December 16 Lightning Round, saying: 

“Joby Aviation … is like a Jules Verne story … Let’s leave it like a story and not think of it as a stock.”

On December 14, Joby Aviation, Inc. (NYSE:JOBY) announced the conclusion of its second of four System Reviews required by the Federal Aviation Administration as part of the company’s aircraft type certification program. This indicates that the company is on the path of certifying its electric vertical take-off and landing aircraft.

Deutsche Bank analyst Edison Yu on November 16 lowered the price target on Joby Aviation, Inc. (NYSE:JOBY) to $6 from $7 and reiterated a Hold rating on the shares following the Q3 results. Joby Aviation, Inc. (NYSE:JOBY) confirmed that FAA certification would drag on into late 2024, meaning commercial operations would start in 2025, the analyst wrote in a research note.

According to Insider Monkey’s third quarter database, 19 hedge funds were long Joby Aviation, Inc. (NYSE:JOBY), compared to 20 funds in the earlier quarter. The collective stakes in Q3 2022 decreased to $21.4 million from $30 million in Q2 2022.