Joby Aviation Advances FAA Certification, Plans Ohio Facility to Double Production by 2027

Joby Aviation's stock fell to a 20-day low of $7.58, down 62.5% from last year's $20 high, even as the company advances FAA certification and plans an Ohio plant to double monthly production by 2027.

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Industry impact

eVTOL certification and manufacturing scale-up continue advancing even as investor sentiment toward emerging air-mobility companies remains volatile and divided among analysts.

Joby Aviation shares fell to a 20-day low of $7.58 amid broader market weakness, with the Nasdaq-100 down 0.89% and the S&P 500 down 0.56%, marking a 62.5% decline from the stock's high of $20 last year. Despite the drop, Joby completed its first FAA-conforming eVTOL flight in March, ahead of rival Archer Aviation, and is advancing through the Testing and Analysis stage of FAA certification. The company is building a new facility in Ohio aimed at doubling its monthly aircraft production by 2027, backed by a $2.5 billion cash reserve that management says supports its first-half cash use guidance. Joby's eVTOL is designed to carry a pilot and up to four passengers, or up to 1,000 pounds of payload, at speeds up to 200 mph with a target range of 100 miles per charge.

In August 2026, Joby acquired Resonant Sciences, which H.C. Wainwright analyst Amit Dayal expects to become Joby's dedicated defense business unit; he maintained a Buy rating and an $18 price target, noting Resonant's first-half 2026 bookings exceeded 2025 levels by three times with its backlog more than doubling year-over-year. H.C. Wainwright projects Joby's revenue growing from $122 million in 2026 to $14.2 billion in 2036. Canaccord analyst Austin Moeller downgraded the stock to Hold and lowered his price target to $11.50 from $15.50 following Q1 results. Among six Wall Street analysts tracked, one rates the stock Buy, three Hold, and two Sell, with an average price target of $15.67.