Joby Aviation (NYSE:JOBY) Insider Gregory Bowles Sells 4,575 Shares

Key Points

• Insider sale: Joby Aviation insider Gregory Bowles sold 4,575 shares for $33,077.25 under a pre-arranged Rule 10b5-1 plan to cover tax withholding, reducing his stake by 2.33% to 191,986 shares.
• Stock performance and finances: JOBY shares rose 0.6% to $7.24, well below the 50-day and 200-day moving averages. The company reported a quarterly loss of $0.25 per share, though revenue of $38.64 million exceeded analyst estimates.
• Analyst outlook: Ratings remain mixed, with two Buy, four Hold and three Sell recommendations. The stock carries an average “Reduce” rating and an average price target of $13.81.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) insider Gregory Bowles sold 4,575 shares of the firm's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $7.23, for a total value of $33,077.25. Following the sale, the insider directly owned 191,986 shares in the company, valued at $1,388,058.78. This trade represents a 2.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 Monday, August 24th, Gregory Bowles sold 3,531 shares of Joby Aviation stock. The shares were sold at an average price of $7.34, for a total value of $25,917.54.
• On Monday, July 6th, Gregory Bowles sold 4,724 shares of Joby Aviation stock. The shares were sold at an average price of $9.10, for a total transaction of $42,988.40.
• 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 transaction of $46,009.36.

Joby Aviation Stock Up 0.6%

Shares of Joby Aviation stock traded up $0.05 during trading hours on Tuesday, hitting $7.24. The company had a trading volume of 21,939,290 shares, compared to its average volume of 32,496,830. The company's 50-day moving average is $8.14 and its two-hundred day moving average is $9.17. Joby Aviation, Inc. has a twelve month low of $6.63 and a twelve month high of $19.98. The company has a debt-to-equity ratio of 0.40, a current ratio of 17.98 and a quick ratio of 17.98. The company has a market cap of $7.16 billion, a P/E ratio of -7.31 and a beta of 2.73.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced 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 return on equity of 55.29% and a negative net margin of 755.11%.The company had revenue of $38.64 million for the quarter, compared to analyst estimates of $30.20 million. During the same quarter in the prior year, the business earned ($0.41) earnings per share. Joby Aviation's revenue was up 257493.3% compared to the same quarter last year. Analysts anticipate that Joby Aviation, Inc. will post -1 earnings per share for the current fiscal year.

Institutional Trading of Joby Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in JOBY. Fifth Third Bancorp lifted its position 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 period. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Joby Aviation in the fourth quarter valued at approximately $28,000. Ancora Advisors LLC purchased a new stake in shares of Joby Aviation during the third quarter worth approximately $35,000. Pandora Wealth Inc. acquired a new stake in shares of Joby Aviation during the fourth quarter worth $32,000. Finally, DV Equities LLC acquired a new stake in shares of Joby Aviation during the fourth quarter worth $33,000. 52.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on JOBY. Wall Street Zen downgraded Joby Aviation from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 8th. Weiss Ratings raised Joby Aviation from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 14th. Barclays upgraded shares of Joby Aviation to a "hold" rating in a research report on Wednesday, July 29th. Needham & Company LLC reduced their price target on shares of Joby Aviation from $18.00 to $15.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Finally, HC Wainwright reiterated a "buy" rating on shares of Joby Aviation in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and an average 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.

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