Paul Cahill Sciarra Sells 62,500 Shares of Joby Aviation (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY – Get Free Report) Director Paul Cahill Sciarra sold 62,500 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $7.96, for a total value of $497,500.00. Following the transaction, the director directly owned 55,765,557 shares in the company, valued at approximately $443,893,833.72. This represents a 0.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paul Cahill Sciarra also recently made the following trade(s):

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• On Thursday, May 28th, Paul Cahill Sciarra sold 416,666 shares of Joby Aviation stock. The shares were sold at an average price of $12.02, for a total value of $5,008,325.32.

Joby Aviation Trading Down 4.1%

NYSE JOBY opened at $7.92 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 22.05 and a current ratio of 17.98. Joby Aviation, Inc. has a one year low of $6.63 and a one year high of $19.98. The company has a 50-day simple moving average of $8.35 and a 200-day simple moving average of $9.37. The firm has a market capitalization of $7.84 billion, a PE ratio of -8.00 and a beta of 2.73.

Joby Aviation (NYSE:JOBY – Get Free Report) last released its quarterly earnings data 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 business had revenue of $38.64 million for the quarter, compared to analyst estimates of $30.20 million. Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%.Joby Aviation’s revenue was up 257493.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.41) EPS. On average, equities analysts forecast that Joby Aviation, Inc. will post -1 earnings per share for the current year.

Analysts Set New Price Targets

JOBY has been the subject of a number of recent analyst reports. Canaccord Genuity Group decreased their target price on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a research report on Thursday, May 7th. Susquehanna set a $18.00 target price on Joby Aviation in a research report on Thursday, August 6th. HC Wainwright reaffirmed a “buy” rating on shares of Joby Aviation in a research note on Thursday, August 6th. Weiss Ratings raised Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Finally, Barclays upgraded Joby Aviation to a “hold” rating in a research report on Wednesday, July 29th. Two 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. According to data from MarketBeat.com, Joby Aviation currently has a consensus rating of “Reduce” and a consensus price target of $13.81.

Read Our Latest Analysis on Joby Aviation

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its holdings in shares of Joby Aviation by 194.5% in the first quarter. Renaissance Technologies LLC now owns 4,005,200 shares of the company’s stock valued at $33,083,000 after buying an additional 2,645,200 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Joby Aviation by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock worth $692,851,000 after acquiring an additional 2,540,382 shares in the last quarter. Man Group plc bought a new stake in shares of Joby Aviation during the 3rd quarter worth $40,283,000. Norges Bank acquired a new position in shares of Joby Aviation in the 4th quarter worth $32,269,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Joby Aviation by 80.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,384,180 shares of the company’s stock worth $44,672,000 after purchasing an additional 1,512,094 shares in the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

About Joby Aviation

(Get Free Report)

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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