Joby Aviation, Inc. (NYSE:JOBY – Get Free Report) insider Bonny Simi sold 7,832 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $8.92, for a total value of $69,861.44. Following the transaction, the insider owned 231,687 shares of the company’s stock, valued at approximately $2,066,648.04. The trade was a 3.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Joby Aviation Stock Down 2.3%
Shares of NYSE JOBY opened at $7.93 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 22.05 and a current ratio of 22.06. The stock has a 50 day moving average price of $9.91 and a 200 day moving average price of $10.65. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of -6.90 and a beta of 2.71. Joby Aviation, Inc. has a 52-week low of $7.75 and a 52-week high of $20.95.
Joby Aviation (NYSE:JOBY – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. The company had revenue of $24.25 million during the quarter, compared to the consensus estimate of $20.17 million. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. Sell-side analysts expect that Joby Aviation, Inc. will post -0.83 earnings per share for the current year.
Hedge Funds Weigh In On Joby Aviation
Key Headlines Impacting Joby Aviation
Here are the key news stories impacting Joby Aviation this week:
- Positive Sentiment: Investors are still focused on the upside if Joby can launch commercial air taxi service by 2030 or even sooner, since that would validate its eVTOL model and could open a major new revenue stream. Prediction: Can Joby Aviation Stock Soar 500% by 2030?
- Positive Sentiment: Recent coverage continues to highlight the possibility that Joby could begin commercial air taxi operations this year, which keeps speculative buying interest alive. Joby Aviation Stock: Is It More Likely to Hit $15 or $5 This Year?
- Neutral Sentiment: Toyota’s ongoing partnership work with Joby Aviation keeps a strategic industry name attached to the company, reinforcing its long-term commercialization story. Toyota Motor (TSE:7203) Extends Lexus MSG Partnership, Is It Fully Priced?
- Neutral Sentiment: Multiple insider sales were disclosed from executives including the CEO and CFO, but the filings indicate many of the transactions were related to tax withholding or routine sales tied to vesting awards. Joby Aviation (NYSE:JOBY) CFO Rodrigo Brumana Sells 2,601 Shares
- Negative Sentiment: The stock is being weighed down by concerns that Joby’s aircraft is not yet approved for commercial use, so any delay in regulatory progress could pressure the shares further. Joby Aviation stock tests $8 support zone: What’s driving the air taxi pullback?
- Negative Sentiment: Recent insider selling from several top executives may be adding to investor caution, even if the sales were largely prearranged or tax-related. Joby Aviation (NYSE:JOBY) CEO Joeben Bevirt Sells 15,788 Shares
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Joby Aviation in a report on Thursday, March 12th. Canaccord Genuity Group lowered their price target on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a report on Thursday, May 7th. Morgan Stanley cut their price target on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. Weiss Ratings lowered Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Joby Aviation in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $13.64.
View Our Latest Stock Analysis on JOBY
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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