Shares of Joby Aviation, Inc. (NYSE:JOBY – Get Free Report) traded down 2.6% on Friday after an insider sold shares in the company. The company traded as low as $10.04 and last traded at $10.3650. 25,178,880 shares traded hands during trading, a decline of 9% from the average session volume of 27,751,357 shares. The stock had previously closed at $10.64.
Specifically, CEO Joeben Bevirt sold 421,019 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $10.38, for a total value of $4,370,177.22. Following the sale, the chief executive officer owned 31,678,802 shares in the company, valued at $328,825,964.76. The trade was a 1.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. Wall Street Zen upgraded shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. JPMorgan Chase & Co. decreased their price target on shares of Joby Aviation from $8.00 to $7.00 and set an “underweight” rating on the stock in a research note on Thursday, February 26th. Canaccord Genuity Group decreased 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 note on Thursday, May 7th. Weiss Ratings cut shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Joby Aviation in a research note on Thursday, March 12th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $13.06.
More Joby Aviation News
Here are the key news stories impacting Joby Aviation this week:
- Positive Sentiment: Joby continues to attract attention as a leading eVTOL name, with recent coverage highlighting its potential to benefit from the growth of advanced air mobility and comparisons that frame it as one of the stronger players in the sector.
- Neutral Sentiment: News that Joby is planning New York eVTOL demonstrations and discussing progress under the FAA’s eIPP suggests the company is still pushing regulatory and public-awareness efforts that could support long-term adoption, but these developments are not immediate revenue catalysts. Article Title Article Title
- Negative Sentiment: CEO Joeben Bevirt sold 421,019 shares in a pre-arranged 10b5-1 transaction, a move that can weigh on sentiment even though it was disclosed as part of a planned trading arrangement. Article Title
- Negative Sentiment: Some recent commentary compares Joby with Archer and suggests the competition in the eVTOL race is still highly uncertain, reinforcing concerns that execution and regulatory timing will be key to future upside. Article Title
Joby Aviation Price Performance
The company has a current ratio of 22.06, a quick ratio of 22.05 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $10.20 billion, a PE ratio of -9.01 and a beta of 2.61. The stock’s 50-day moving average is $9.26 and its two-hundred day moving average is $12.00.
Joby Aviation (NYSE:JOBY – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. The company had revenue of $24.25 million for the quarter, compared to analyst estimates of $20.17 million. During the same period in the prior year, the company posted ($0.11) EPS. On average, equities analysts predict that Joby Aviation, Inc. will post -0.83 EPS for the current year.
Institutional Trading of Joby Aviation
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strategic Advocates LLC purchased a new stake in Joby Aviation in the 3rd quarter worth about $29,000. Fifth Third Bancorp raised its position in Joby Aviation by 207.4% in the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock worth $26,000 after purchasing an additional 1,348 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Joby Aviation in the 4th quarter worth about $28,000. Ancora Advisors LLC purchased a new stake in Joby Aviation in the 3rd quarter worth about $35,000. Finally, Pandora Wealth Inc. purchased a new stake in Joby Aviation in the 4th quarter worth about $32,000. 52.85% of the stock is owned by hedge funds and other institutional investors.
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.
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