Bonny Simi Sells 7,832 Shares of Joby Aviation (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Bonny Simi sold 7,832 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $8.92, for a total transaction of $69,861.44. Following the completion of the transaction, the insider directly owned 231,687 shares of the company’s stock, valued at $2,066,648.04. This trade represents a 3.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Joby Aviation Stock Down 9.0%

NYSE JOBY opened at $8.12 on Wednesday. Joby Aviation, Inc. has a 1-year low of $7.75 and a 1-year high of $20.95. The company has a market capitalization of $7.98 billion, a price-to-earnings ratio of -7.06 and a beta of 2.71. The stock’s 50 day moving average is $9.93 and its two-hundred day moving average is $10.69. The company has a current ratio of 22.06, a quick ratio of 22.05 and a debt-to-equity ratio of 0.36.

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

Institutional Trading of Joby Aviation

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Strategic Advocates LLC bought a new position in shares of Joby Aviation in the third quarter valued at about $29,000. Fifth Third Bancorp grew its holdings in Joby Aviation by 207.4% during the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock worth $26,000 after acquiring an additional 1,348 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in Joby Aviation in the 4th quarter valued at about $28,000. Ancora Advisors LLC bought a new position in shares of Joby Aviation in the third quarter worth about $35,000. Finally, Pandora Wealth Inc. bought a new position in shares of Joby Aviation in the fourth quarter worth about $32,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on JOBY. Weiss Ratings lowered shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Canaccord Genuity Group reduced their price target on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a research report on Thursday, May 7th. Wall Street Zen raised shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a report on Thursday, March 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $13.64.

More Joby Aviation News

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

• Positive Sentiment: Recent coverage says investors are still bidding up Joby Aviation on hopes it can begin commercial air taxi operations this year, a major milestone that would validate the business model and open the door to future revenue. Joby Aviation Stock: Is It More Likely to Hit $15 or $5 This Year?
• Positive Sentiment: Another update highlighted that Joby’s air taxi expansion is fueling investor excitement and lifting sentiment around the company’s long-term growth potential. Why Joby Aviation Stock Popped Today
• Neutral Sentiment: Several executives, including CFO Rodrigo Brumana and CEO Joeben Bevirt, disclosed share sales. The company said these were mainly to cover tax withholding tied to vesting equity awards, which makes the transactions look more routine than conviction-driven. SEC filing
• Neutral Sentiment: Additional insider sales were reported from Didier Papadopoulos, Eric Allison, Kate Dehoff, Gregory Bowles, and Bonny W. Simi, including a pre-arranged Rule 10b5-1 sale. These were also described as tax-related and do not necessarily signal a fundamental change in the outlook. SEC filing
• Negative Sentiment: The key downside risk is that Joby’s aircraft is not yet approved for commercial service, so any delay in regulatory progress could cool the rally and pressure the stock. Article

About Joby Aviation

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.