Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells $25,917.54 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 3,531 shares of Joby Aviation stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $7.34, for a total transaction of $25,917.54. Following the transaction, the insider owned 196,561 shares of the company’s stock, valued at approximately $1,442,757.74. The trade was a 1.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 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, 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 value 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

JOBY stock traded up $0.05 during trading on Tuesday, hitting $7.24. The stock had a trading volume of 21,939,290 shares, compared to its average volume of 32,496,830. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of -7.31 and a beta of 2.73. 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 company’s 50 day moving average price is $8.14 and its two-hundred day moving average price is $9.17. Joby Aviation, Inc. has a 1-year low of $6.63 and a 1-year high of $19.98.

Joby Aviation (NYSE:JOBY) last posted 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 net margin of 755.11% and a negative return on equity of 55.29%. The company’s revenue was up 257493.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.41) EPS. On average, sell-side analysts forecast that Joby Aviation, Inc. will post -1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp increased its position in shares of Joby Aviation by 207.4% in the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock worth $26,000 after acquiring an additional 1,348 shares in the last quarter. Ancora Advisors LLC purchased a new stake in Joby Aviation during the 2nd quarter worth $27,000. EverSource Wealth Advisors LLC boosted its position in Joby Aviation by 284.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock worth $27,000 after purchasing an additional 1,880 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in Joby Aviation in the 4th quarter valued at $28,000. Finally, Pandora Wealth Inc. purchased a new position in Joby Aviation in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on JOBY shares. HC Wainwright reaffirmed a “buy” rating on shares of Joby Aviation in a research note on Thursday, August 6th. Weiss Ratings raised shares of Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Susquehanna set a $18.00 price objective on Joby Aviation in a report on Thursday, August 6th. Barclays raised Joby Aviation to a “hold” rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen cut Joby Aviation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price 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.