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

Key Points

• Joby Aviation director Paul Cahill Sciarra sold 62,500 shares at an average price of $7.96, generating $497,500. The sale was made under a pre-arranged Rule 10b5-1 plan and reduced his stake by 0.11%.
• Joby shares fell 4.1% to $7.92, with the stock trading well below its 52-week high of $19.98. The company recently reported a quarterly loss of $0.25 per share, missing estimates, despite revenue exceeding expectations.
• Analyst sentiment remains mixed, with Joby holding an average rating of “Reduce” and an average price target of $13.81; institutional investors and hedge funds own 52.85% of the company.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) Director Paul Cahill Sciarra sold 62,500 shares of the firm's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $7.96, for a total transaction of $497,500.00. Following the transaction, the director owned 55,765,557 shares in the company, valued at $443,893,833.72. This represents a 0.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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, May 28th, Paul Cahill Sciarra sold 416,666 shares of Joby Aviation stock. The stock was sold at an average price of $12.02, for a total transaction of $5,008,325.32.

Joby Aviation Stock Down 4.1%

NYSE:JOBY traded down $0.34 during trading hours on Friday, reaching $7.92. The company's stock had a trading volume of 26,147,891 shares, compared to its average volume of 32,879,594. The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05. The company has a market cap of $7.80 billion, a price-to-earnings ratio of -8.00 and a beta of 2.73. Joby Aviation, Inc. has a one year low of $6.63 and a one year high of $19.98. The business's 50-day moving average is $8.38 and its 200-day moving average is $9.38.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The company had revenue of $38.64 million for the quarter, compared to the consensus estimate of $30.20 million. Joby Aviation had a negative net margin of 755.11% and a negative return on equity of 58.65%. Joby Aviation's quarterly revenue was up 257493.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.41) earnings per share. Equities research analysts predict that Joby Aviation, Inc. will post -1 EPS for the current year.

Analyst Upgrades and Downgrades

JOBY has been the subject of several analyst reports. Barclays upgraded Joby Aviation to a "hold" rating in a report on Wednesday, July 29th. Wall Street Zen lowered shares of Joby Aviation from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. Needham & Company LLC reduced their price objective on shares of Joby Aviation from $18.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Susquehanna set a $18.00 price objective on shares of Joby Aviation in a report on Thursday, August 6th. Finally, Canaccord Genuity Group decreased their price objective 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 investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Joby Aviation presently has an average rating of "Reduce" and an average price target of $13.81.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of JOBY. Fifth Third Bancorp boosted 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 valued at $26,000 after acquiring an additional 1,348 shares during the period. EverSource Wealth Advisors LLC raised its stake in Joby Aviation by 284.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company's stock valued at $27,000 after purchasing an additional 1,880 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Joby Aviation during the 4th quarter valued at $28,000. Pandora Wealth Inc. bought a new stake in Joby Aviation in the 4th quarter valued at $32,000. Finally, DV Equities LLC bought a new stake in Joby Aviation in the 4th quarter valued at $33,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

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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