Key Points
- Joby Aviation CFO Rodrigo Brumana sold 78,489 shares on June 4 at an average price of $11.30, totaling about $886,926. The sale cut his direct holdings by 49% and was made under a pre-arranged 10b5-1 trading plan.
- Joby’s latest earnings beat expectations, with Q1 EPS of -$0.12 versus estimates of -$0.21 and revenue of $24.25 million versus the expected $20.17 million. Despite the beat, the company remains deeply unprofitable.
- Analysts are mixed on the stock: the consensus rating is “Reduce” with a price target of $13.06, though some firms like HC Wainwright and Needham still have Buy ratings and $18 targets.
Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) CFO Rodrigo Brumana sold 78,489 shares of Joby Aviation stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $11.30, for a total value of $886,925.70. Following the sale, the chief financial officer directly owned 81,694 shares in the company, valued at approximately $923,142.20. This trade represents a 49.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Rodrigo Brumana also recently made the following trade(s):
- On Wednesday, April 8th, Rodrigo Brumana sold 566 shares of Joby Aviation stock. The shares were sold at an average price of $8.87, for a total value of $5,020.42.
- On Tuesday, March 10th, Rodrigo Brumana sold 1,159 shares of Joby Aviation stock. The shares were sold at an average price of $10.25, for a total value of $11,879.75.
Joby Aviation Stock Performance
JOBY opened at $9.69 on Tuesday. The business's 50 day moving average is $9.72 and its 200-day moving average is $11.46. The stock has a market cap of $9.53 billion, a PE ratio of -8.43 and a beta of 2.66. The company has a current ratio of 22.06, a quick ratio of 22.05 and a debt-to-equity ratio of 0.36. Joby Aviation, Inc. has a twelve month low of $7.75 and a twelve month high of $20.95.
Joby Aviation (NYSE:JOBY - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, beating analysts' consensus estimates of ($0.21) by $0.09. The company had revenue of $24.25 million for the quarter, compared to analysts' expectations of $20.17 million. Joby Aviation had a negative return on equity of 60.54% and a negative net margin of 1,232.62%.During the same quarter in the previous year, the company posted ($0.11) earnings per share. On average, analysts predict that Joby Aviation, Inc. will post -0.83 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Strategic Advocates LLC acquired a new position in Joby Aviation in the third quarter worth approximately $29,000. Fifth Third Bancorp grew its position in Joby Aviation by 207.4% in the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company's stock worth $26,000 after buying an additional 1,348 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Joby Aviation in the 4th quarter worth approximately $28,000. Ancora Advisors LLC purchased a new position in Joby Aviation during the 3rd quarter worth approximately $35,000. Finally, Pandora Wealth Inc. purchased a new position in Joby Aviation during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 52.85% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the stock. HC Wainwright reiterated a "buy" rating and set a $18.00 price objective on shares of Joby Aviation in a research note on Thursday, March 12th. Weiss Ratings lowered shares of Joby Aviation from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, May 4th. Wall Street Zen upgraded shares of Joby Aviation from a "strong sell" rating to a "sell" rating in a research note on Sunday, May 10th. JPMorgan Chase & Co. lowered their price objective on shares of Joby Aviation from $8.00 to $7.00 and set an "underweight" rating on the stock in a research note on Thursday, February 26th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $18.00 price objective on shares of Joby Aviation in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $13.06.
Get Our Latest Stock Analysis on Joby Aviation
About Joby Aviation
(
Get Free Report)
Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company's core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby's eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.
The company's flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.
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