Joby Aviation (NYSE:JOBY) Insider Sells 4,724 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 4,724 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $9.10, for a total value of $42,988.40. Following the completion of the transaction, the insider directly owned 188,936 shares in the company, valued at approximately $1,719,317.60. This represents a 2.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 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 value of $46,009.36.
• On Tuesday, May 26th, Gregory Bowles sold 4,602 shares of Joby Aviation stock. The shares were sold at an average price of $11.47, for a total transaction of $52,784.94.
• On Friday, May 22nd, Gregory Bowles sold 3,486 shares of Joby Aviation stock. The stock was sold at an average price of $10.74, for a total transaction of $37,439.64.
• On Wednesday, April 8th, Gregory Bowles sold 357 shares of Joby Aviation stock. The shares were sold at an average price of $8.87, for a total transaction of $3,166.59.

Joby Aviation Trading Up 5.2%

Shares of JOBY stock traded up $0.45 on Monday, hitting $8.94. 55,744,434 shares of the company’s stock traded hands, compared to its average volume of 30,442,541. The company has a debt-to-equity ratio of 0.36, a quick ratio of 22.05 and a current ratio of 22.06. Joby Aviation, Inc. has a one year low of $7.75 and a one year high of $20.95. The company’s fifty day simple moving average is $9.94 and its 200 day simple moving average is $10.73. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of -7.77 and a beta of 2.71.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.09. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. The business had revenue of $24.25 million during the quarter, compared to the consensus estimate of $20.17 million. During the same period in the previous year, the firm posted ($0.11) earnings per share. Equities analysts forecast that Joby Aviation, Inc. will post -0.83 EPS for the current year.

Key Headlines Impacting Joby Aviation

Here are the key news stories impacting Joby Aviation this week:

• Positive Sentiment: Investor excitement increased after reports highlighted Toyota’s support for Joby’s all-electric air taxis and the company’s progress toward vertical flight and production readiness. Toyota backs Joby’s all-electric air taxis as production aircraft prepare for vertical flight
• Positive Sentiment: Joby also announced it is expanding manufacturing capacity in California and Ohio and adding aircraft to its fleet, reinforcing the narrative that it is scaling operations ahead of commercialization. Joby Expands Manufacturing Capacity in California and Ohio, Adds New Aircraft to Its Fleet
• Positive Sentiment: Several market commentaries pointed to a strong Monday rally, saying Joby’s valuation got another lift as traders focused on expansion and air taxi growth prospects. Why Joby Aviation Stock Is Surging Today
• Neutral Sentiment: Multiple executives and insiders, including the CEO, CFO, and other senior leaders, sold shares this week, but the filings say the sales were primarily to cover tax withholding tied to vesting equity awards or made under a pre-arranged trading plan, which makes the activity less concerning than open-market selling.

Analyst Ratings Changes

Several research firms recently issued reports on JOBY. Needham & Company LLC restated a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a research report on Wednesday, May 6th. HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a research note on Thursday, March 12th. Morgan Stanley cut their target price on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Weiss Ratings downgraded shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Finally, Canaccord Genuity Group lowered their price target on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $13.64.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of JOBY. Segall Bryant & Hamill LLC bought a new stake in shares of Joby Aviation in the 1st quarter worth approximately $131,000. J. Derek Lewis & Associates Inc. bought a new position in shares of Joby Aviation during the first quarter valued at approximately $121,000. Western Wealth Management LLC purchased a new stake in Joby Aviation in the first quarter worth $37,000. Edgestream Partners L.P. bought a new stake in Joby Aviation in the first quarter valued at $1,189,000. Finally, Arkadios Wealth Advisors bought a new stake in Joby Aviation in the first quarter valued at $90,000. Institutional investors own 52.85% of the company’s stock.

Joby Aviation Company Profile

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.