Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Gregory Bowles sold 3,531 shares of the company's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $7.34, for a total transaction of $25,917.54. Following the completion of the sale, the insider directly owned 196,561 shares of the company's stock, valued at $1,442,757.74. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Gregory Bowles also recently made the following trade(s):
- On Tuesday, August 25th, Gregory Bowles sold 4,575 shares of Joby Aviation stock. The stock was sold at an average price of $7.23, for a total transaction of $33,077.25.
- On Monday, July 6th, Gregory Bowles sold 4,724 shares of Joby Aviation stock. The stock was sold at an average price of $9.10, for a total transaction of $42,988.40.
- On Thursday, July 2nd, Gregory Bowles sold 5,158 shares of Joby Aviation stock. The stock was sold at an average price of $8.92, for a total transaction of $46,009.36.
Joby Aviation Stock Up 0.6%
JOBY stock opened at $7.24 on Wednesday. The firm has a market cap of $7.16 billion, a PE ratio of -7.31 and a beta of 2.73. Joby Aviation, Inc. has a 12 month low of $6.63 and a 12 month high of $19.98. The company has a debt-to-equity ratio of 0.40, a current ratio of 17.98 and a quick ratio of 17.98. The firm has a 50 day simple moving average of $8.10 and a 200 day simple moving average of $9.15.
Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The business had revenue of $38.64 million during the quarter, compared to analyst estimates of $30.20 million. Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%.The company's quarterly revenue was up 257493.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.41) EPS. Equities research analysts forecast that Joby Aviation, Inc. will post -1 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the company. Morgan Stanley decreased their target price on Joby Aviation from $15.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 6th. Barclays raised Joby Aviation to a "hold" rating in a report on Wednesday, July 29th. HC Wainwright reiterated a "buy" rating on shares of Joby Aviation in a research report on Thursday, August 6th. Needham & Company LLC dropped their price target on Joby Aviation from $18.00 to $15.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded Joby Aviation from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 14th. 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. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $13.81.
Check Out Our Latest Research Report on Joby Aviation
Hedge Funds Weigh In On Joby Aviation
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its stake in Joby Aviation by 207.4% during the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company's stock valued at $26,000 after purchasing an additional 1,348 shares during the period. Ancora Advisors LLC acquired a new stake in shares of Joby Aviation in the second quarter worth $27,000. EverSource Wealth Advisors LLC boosted its position in shares of Joby Aviation by 284.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company's stock worth $27,000 after buying an additional 1,880 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Joby Aviation during the fourth quarter valued at $28,000. Finally, Pandora Wealth Inc. purchased a new position in shares of Joby Aviation during the fourth quarter valued at $32,000. Institutional investors and hedge funds own 52.85% of the company's stock.
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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