Joby Aviation (NYSE:JOBY) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Joby Aviation (NYSE:JOBY - Get Free Report) released its quarterly earnings data on Tuesday. The company reported ($0.14) EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.03, Briefing.com reports. The firm had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.05 million. The company's quarterly revenue was down 97.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.16) EPS.

Joby Aviation Stock Performance

Shares of Joby Aviation stock traded down $0.49 on Wednesday, reaching $4.88. The stock had a trading volume of 8,492,352 shares, compared to its average volume of 4,894,430. The business's 50-day moving average price is $5.11 and its two-hundred day moving average price is $5.70. The stock has a market cap of $3.43 billion, a P/E ratio of -6.02 and a beta of 2.04. Joby Aviation has a fifty-two week low of $4.30 and a fifty-two week high of $11.98.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upgraded shares of Joby Aviation from an "underweight" rating to a "neutral" rating and set a $5.00 price objective for the company in a report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $7.67.

Insider Activity at Joby Aviation

In other news, CEO Joeben Bevirt sold 5,757 shares of the firm's stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $6.03, for a total value of $34,714.71. Following the sale, the chief executive officer now directly owns 604,437 shares of the company's stock, valued at $3,644,755.11. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Eric Allison sold 19,393 shares of the company's stock in a transaction on Monday, April 15th. The shares were sold at an average price of $4.70, for a total transaction of $91,147.10. Following the completion of the transaction, the insider now directly owns 422,592 shares in the company, valued at approximately $1,986,182.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joeben Bevirt sold 5,757 shares of the firm's stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $6.03, for a total transaction of $34,714.71. Following the completion of the sale, the chief executive officer now owns 604,437 shares in the company, valued at $3,644,755.11. The disclosure for this sale can be found here. In the last three months, insiders have sold 553,419 shares of company stock worth $2,836,610. 49.50% of the stock is owned by insiders.

About Joby Aviation

Joby Aviation, Inc, a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.