Key Points
- Joby Aviation director Paul Sciarra sold 62,500 shares at an average $4.97, for $310,625. The transaction was made under a pre-arranged Rule 10b5-1 plan; he retained about 55.58 million shares.
- Sciarra also sold 62,500 shares in August, September and October, at successively higher average prices of $7.96, $6.68 and $6.09.
- Joby shares opened at $4.84, near their 12-month low of $4.43. The company missed quarterly EPS expectations but exceeded revenue estimates, while analysts’ average rating was “Reduce.”
Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) Director Paul Sciarra sold 62,500 shares of Joby Aviation stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $4.97, for a total transaction of $310,625.00. Following the sale, the director directly owned 55,578,057 shares of the company's stock, valued at $276,222,943.29. This represents a 0.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Paul Cahill Sciarra also recently made the following trade(s):
- On Friday, October 2nd, Paul Sciarra sold 62,500 shares of Joby Aviation stock. The shares were sold at an average price of $6.09, for a total transaction of $380,625.00.
- On Wednesday, September 2nd, Paul Sciarra sold 62,500 shares of Joby Aviation stock. The shares were sold at an average price of $6.68, for a total value of $417,500.00.
- On Thursday, August 13th, Paul Sciarra sold 62,500 shares of Joby Aviation stock. The shares were sold at an average price of $7.96, for a total value of $497,500.00.
Joby Aviation Price Performance
NYSE:JOBY opened at $4.84 on Wednesday. Joby Aviation, Inc. has a 12-month low of $4.43 and a 12-month high of $17.10. The company has a debt-to-equity ratio of 0.40, a quick ratio of 17.98 and a current ratio of 17.98. The stock's fifty day simple moving average is $5.83 and its 200-day simple moving average is $8.59.
Joby Aviation (NYSE:JOBY - Get Free Report) last announced 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). The company had revenue of $38.64 million for 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 firm's revenue for the quarter was up 257493.3% on a year-over-year basis. During the same period last year, the firm earned ($0.41) earnings per share. On average, equities analysts predict that Joby Aviation, Inc. will post -1.00 EPS for the current fiscal year.
Hedge Funds Weigh In On Joby Aviation
Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC increased its position in shares of Joby Aviation by 194.5% in the 1st quarter. Renaissance Technologies LLC now owns 4,005,200 shares of the company's stock valued at $33,083,000 after buying an additional 2,645,200 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Joby Aviation by 4.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,947,672 shares of the company's stock worth $17,833,000 after buying an additional 131,920 shares during the period. Amova Asset Management Americas Inc. lifted its holdings in Joby Aviation by 48.1% during the first quarter. Amova Asset Management Americas Inc. now owns 2,678,495 shares of the company's stock worth $22,124,000 after acquiring an additional 870,244 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Joby Aviation by 27.6% during the second quarter. Bank of New York Mellon Corp now owns 2,136,710 shares of the company's stock worth $19,059,000 after acquiring an additional 462,585 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in Joby Aviation by 3.5% during the second quarter. HighTower Advisors LLC now owns 920,410 shares of the company's stock worth $8,210,000 after acquiring an additional 30,928 shares in the last quarter. Institutional investors and hedge funds own 52.85% of the company's stock.
Wall Street Analysts Forecast Growth
JOBY has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated a "neutral" rating on shares of Joby Aviation in a report on Monday, September 21st. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 price target on shares of Joby Aviation in a research note on Monday, September 21st. Needham & Company LLC lowered their price target on Joby Aviation from $18.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Susquehanna set a $18.00 price target on shares of Joby Aviation in a research report on Thursday, August 6th. Finally, Morgan Stanley reduced their price objective on shares of Joby Aviation from $13.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Friday, October 16th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $12.39.
Check Out Our Latest Research Report on JOBY
Joby Aviation Company Profile
(
Get Free Report)
Joby Aviation, Inc is an aerospace company developing all-electric vertical takeoff and landing (eVTOL) aircraft for commercial passenger transportation. Its aircraft are designed to take off and land vertically like a helicopter while operating with the range and speed of a conventional aircraft, supporting quiet, low-emission air taxi services and other urban and regional transportation applications.
Founded in 2009 by JoeBen Bevirt, Joby is pursuing the certification, production and commercial deployment of its piloted aircraft.
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