Key Points
- CEO JoeBen Bevirt sold 606,667 Joby Aviation shares at an average price of $6.19, generating approximately $3.76 million. The sale occurred under a pre-arranged Rule 10b5-1 trading plan and reduced his ownership by 1.05%.
- Joby reported a quarterly loss of $0.25 per share, missing estimates by $0.02, although revenue reached $38.64 million and increased sharply year over year. Analysts expect the company to post a full-year loss of $1 per share.
- JOBY opened at $6.18, near its 52-week low of $5.93, while analyst sentiment remained mixed: the stock has an average “Reduce” rating and an average price target of $13.81.
Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) CEO JoeBen Bevirt sold 606,667 shares of the firm's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $6.19, for a total transaction of $3,755,268.73. Following the completion of the transaction, the chief executive officer owned 57,207,377 shares in the company, valued at $354,113,663.63. The trade was a 1.05% decrease in their ownership of the stock. The transaction 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.
Joeben Bevirt also recently made the following trade(s):
- On Thursday, July 2nd, JoeBen Bevirt sold 15,788 shares of Joby Aviation stock. The stock was sold at an average price of $8.92, for a total transaction of $140,828.96.
Joby Aviation Stock Up 1.7%
JOBY stock opened at $6.18 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 17.98 and a quick ratio of 17.98. Joby Aviation, Inc. has a 52-week low of $5.93 and a 52-week high of $19.98. The company has a 50-day moving average of $7.31 and a two-hundred day moving average of $8.74. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of -6.25 and a beta of 2.68.
Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.02). Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%.The business had revenue of $38.64 million during the quarter, compared to the consensus estimate of $30.20 million. During the same quarter in the previous year, the firm posted ($0.41) earnings per share. The company's revenue for the quarter was up 257493.3% on a year-over-year basis. As a group, equities research analysts anticipate that Joby Aviation, Inc. will post -1 EPS for the current year.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Joby Aviation by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 11,790,532 shares of the company's stock worth $155,671,000 after purchasing an additional 390,794 shares during the period. Clear Street Group Inc. lifted its holdings in shares of Joby Aviation by 59.9% during the 4th quarter. Clear Street Group Inc. now owns 3,593,043 shares of the company's stock worth $47,428,000 after acquiring an additional 1,346,205 shares during the period. Lingotto Investment Management LLP lifted its holdings in shares of Joby Aviation by 34.2% during the 4th quarter. Lingotto Investment Management LLP now owns 3,138,240 shares of the company's stock worth $41,425,000 after acquiring an additional 799,260 shares during the period. Renaissance Technologies LLC boosted its position in shares of Joby Aviation by 194.5% during the 1st quarter. Renaissance Technologies LLC now owns 4,005,200 shares of the company's stock valued at $33,083,000 after acquiring an additional 2,645,200 shares in the last quarter. Finally, Norges Bank bought a new stake in Joby Aviation in the fourth quarter valued at about $32,269,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the company. Needham & Company LLC cut their price target on Joby Aviation from $18.00 to $15.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Weiss Ratings raised shares of Joby Aviation from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, July 14th. Barclays raised shares of Joby Aviation to a "hold" rating in a report on Wednesday, July 29th. Susquehanna set a $18.00 price target on shares of Joby Aviation in a research report on Thursday, August 6th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Joby Aviation in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $13.81.
Read Our Latest Report on JOBY
Joby Aviation Company Profile
(
Get Free Report)
Joby Aviation, Inc develops electric vertical takeoff and landing (eVTOL) aircraft intended to support commercial air-taxi services. Its aircraft are designed to take off and land vertically like helicopters while traveling with the speed and range of conventional aircraft, with the goal of providing quieter, lower-emission transportation for urban and regional journeys.
The company is pursuing an integrated business model that includes designing and manufacturing its aircraft, operating air-taxi services, and providing related technology and infrastructure.
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