Key Points
- Joby Aviation insider Gregory Bowles sold 6,138 shares for $38,976.30 at an average price of $6.35 under a pre-arranged Rule 10b5-1 plan, reducing his position by 3.13% to 190,170 shares.
- Joby shares opened at $6.24, near their 52-week low of $5.93, and remain below their 50-day and 200-day moving averages. The company reported a quarterly EPS loss of $0.25, missing estimates, despite revenue of $38.64 million exceeding expectations.
- Analyst sentiment is mixed, with a consensus “Reduce” rating and a $13.81 target price; institutional investors own approximately 52.85% of the company.
Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Gregory Bowles sold 6,138 shares of Joby Aviation stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $6.35, for a total transaction of $38,976.30. Following the completion of the sale, the insider directly owned 190,170 shares in the company, valued at approximately $1,207,579.50. This represents a 3.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Gregory Bowles also recently made the following trade(s):
- On Tuesday, August 25th, Gregory Bowles sold 4,575 shares of Joby Aviation stock. The shares were sold at an average price of $7.23, for a total transaction of $33,077.25.
- On Monday, August 24th, Gregory Bowles sold 3,531 shares of Joby Aviation stock. The stock was sold at an average price of $7.34, for a total transaction of $25,917.54.
- 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 shares were sold at an average price of $8.92, for a total value of $46,009.36.
Joby Aviation Price Performance
Shares of NYSE JOBY opened at $6.24 on Thursday. The stock has a fifty day simple moving average of $7.20 and a two-hundred day simple moving average of $8.64. Joby Aviation, Inc. has a 1-year low of $5.93 and a 1-year high of $19.98. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of -6.30 and a beta of 2.68. The company has a current ratio of 17.98, a quick ratio of 17.98 and a debt-to-equity ratio of 0.40.
Joby Aviation (NYSE:JOBY - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.02). The firm had revenue of $38.64 million during the quarter, compared to analysts' expectations of $30.20 million. Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%.The business's quarterly revenue was up 257493.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.41) earnings per share. Analysts anticipate that Joby Aviation, Inc. will post -1 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on JOBY. HC Wainwright restated a "buy" rating and issued a $18.00 price objective on shares of Joby Aviation in a research note on Monday. Susquehanna set a $18.00 target price on shares of Joby Aviation in a research report on Thursday, August 6th. Wall Street Zen downgraded shares of Joby Aviation from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 8th. Weiss Ratings upgraded shares of Joby Aviation from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 14th. Finally, Barclays upgraded shares of Joby Aviation to a "hold" rating in a research note on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Joby Aviation currently has a consensus rating of "Reduce" and a consensus target price of $13.81.
Read Our Latest Stock Report on Joby Aviation
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in shares of Joby Aviation by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 11,790,532 shares of the company's stock valued at $155,671,000 after buying an additional 390,794 shares during the period. Renaissance Technologies LLC boosted its position in shares of Joby Aviation by 194.5% in the first 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 during the period. Clear Street Group Inc. grew its stake in Joby Aviation by 59.9% during the fourth quarter. Clear Street Group Inc. now owns 3,593,043 shares of the company's stock valued at $47,428,000 after acquiring an additional 1,346,205 shares in the last quarter. Lingotto Investment Management LLP grew its stake in Joby Aviation by 34.2% during the fourth quarter. Lingotto Investment Management LLP now owns 3,138,240 shares of the company's stock valued at $41,425,000 after acquiring an additional 799,260 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in Joby Aviation by 48.1% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,679,515 shares of the company's stock worth $22,133,000 after acquiring an additional 870,244 shares during the period. Institutional investors own 52.85% of the company's stock.
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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