Joby Aviation (NYSE:JOBY) Director Sells 62,500 Shares

Joby Aviation, Inc. (NYSE:JOBY) Director Paul Sciarra sold 62,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $6.68, for a total transaction of $417,500.00. Following the transaction, the director directly owned 55,703,057 shares in the company, valued at $372,096,420.76. The trade was a 0.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paul Cahill Sciarra also recently made the following trade(s):

• On Thursday, August 13th, Paul Sciarra sold 62,500 shares of Joby Aviation stock. The stock was sold at an average price of $7.96, for a total transaction of $497,500.00.

Joby Aviation Stock Up 0.7%

Shares of NYSE:JOBY traded up $0.05 during trading on Thursday, reaching $6.87. 29,530,435 shares of the company traded hands, compared to its average volume of 32,078,582. The firm has a fifty day simple moving average of $7.77 and a 200 day simple moving average of $9.01. The firm has a market cap of $6.80 billion, a P/E ratio of -6.94 and a beta of 2.68. Joby Aviation, Inc. has a 1-year low of $6.61 and a 1-year high of $19.98. The company has a quick ratio of 17.98, a current ratio of 17.98 and a debt-to-equity ratio of 0.40.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). Joby Aviation had a negative net margin of 755.11% and a negative return on equity of 55.29%. The company had revenue of $38.64 million for the quarter, compared to analysts’ expectations of $30.20 million. During the same quarter in the prior year, the firm earned ($0.41) earnings per share. The company’s revenue was up 257493.3% on a year-over-year basis. Analysts anticipate that Joby Aviation, Inc. will post -1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Joby Aviation

Hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp raised its holdings in Joby Aviation by 207.4% during the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock valued at $26,000 after buying an additional 1,348 shares in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Joby Aviation during the 4th quarter valued at about $28,000. Ancora Advisors LLC acquired a new position in shares of Joby Aviation during the 3rd quarter valued at about $35,000. Pandora Wealth Inc. bought a new position in shares of Joby Aviation in the 4th quarter valued at approximately $32,000. Finally, DV Equities LLC bought a new position in shares of Joby Aviation in the 4th quarter valued at approximately $33,000. 52.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

JOBY has been the topic of a number of recent research reports. Needham & Company LLC lowered their target price 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. Susquehanna set a $18.00 price target on Joby Aviation in a report on Thursday, August 6th. HC Wainwright reissued a “buy” rating on shares of Joby Aviation in a research note on Thursday, August 6th. Morgan Stanley dropped their price objective 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. Finally, 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. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $13.81.

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.