Key Points
- Joby Aviation director Paul Cahill Sciarra sold 62,500 shares at an average price of $7.96, generating approximately $497,500. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving him with more than 55.7 million shares.
- Joby shares opened at $7.92 and were down 4.1%, with the stock trading well below its 12-month high of $19.98. The company recently reported a quarterly loss of $0.25 per share, missing estimates, despite revenue of $38.64 million exceeding forecasts.
- Analyst sentiment remains cautious: the stock has a consensus rating of “Reduce”, with two Buy, four Hold, and three Sell ratings and an average price target of $13.81.
Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) Director Paul Cahill Sciarra sold 62,500 shares of the firm's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $7.96, for a total value of $497,500.00. Following the completion of the transaction, the director owned 55,765,557 shares in the company, valued at $443,893,833.72. The trade was a 0.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Paul Cahill Sciarra also recently made the following trade(s):
- On Thursday, May 28th, Paul Cahill Sciarra sold 416,666 shares of Joby Aviation stock. The stock was sold at an average price of $12.02, for a total transaction of $5,008,325.32.
Joby Aviation Trading Down 4.1%
Shares of Joby Aviation stock opened at $7.92 on Friday. The company has a quick ratio of 22.05, a current ratio of 17.98 and a debt-to-equity ratio of 0.40. Joby Aviation, Inc. has a 12-month low of $6.63 and a 12-month high of $19.98. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of -8.00 and a beta of 2.73. The firm's 50-day moving average price is $8.35 and its two-hundred day moving average price is $9.37.
Joby Aviation (NYSE:JOBY - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The firm had revenue of $38.64 million during the quarter, compared to analyst estimates of $30.20 million. Joby Aviation had a negative net margin of 755.11% and a negative return on equity of 55.29%. Joby Aviation's quarterly revenue was up 257493.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.41) earnings per share. On average, analysts forecast that Joby Aviation, Inc. will post -1 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the stock. HC Wainwright reaffirmed a "buy" rating on shares of Joby Aviation in a research note on Thursday, August 6th. Weiss Ratings raised Joby Aviation from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 14th. Barclays upgraded Joby Aviation to a "hold" rating in a research report on Wednesday, July 29th. Morgan Stanley lowered their target price on Joby Aviation from $15.00 to $13.00 and set an "equal weight" rating for the company in a report on Wednesday, May 6th. Finally, Canaccord Genuity Group dropped their target price on Joby Aviation from $15.50 to $11.50 and set a "hold" rating for the company in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $13.81.
Check Out Our Latest Analysis on JOBY
Hedge Funds Weigh In On Joby Aviation
A number of hedge funds have recently modified their holdings of JOBY. Fifth Third Bancorp grew its stake in shares of 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 purchasing an additional 1,348 shares during the last quarter. Ancora Advisors LLC acquired a new position in Joby Aviation during the 2nd quarter worth about $27,000. EverSource Wealth Advisors LLC grew its position in shares of Joby Aviation by 284.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company's stock valued at $27,000 after buying an additional 1,880 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Joby Aviation in the 4th quarter valued at about $28,000. Finally, Pandora Wealth Inc. acquired a new stake in shares of Joby Aviation in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 52.85% of the company's stock.
Joby Aviation Company Profile
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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.
Further Reading
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