Joby Aviation (NYSE:JOBY) Announces Quarterly Earnings Results

Joby Aviation (NYSE:JOBY) posted its earnings results on Wednesday. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02), Briefing.com reports. The business had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. During the same quarter last year, the business earned ($0.13) earnings per share.

Joby Aviation Stock Up 0.4 %

Shares of Joby Aviation stock traded up $0.02 during midday trading on Thursday, hitting $5.09. The company had a trading volume of 17,222,351 shares, compared to its average volume of 7,056,318. The company has a fifty day simple moving average of $5.31 and a 200 day simple moving average of $5.30. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of -10.39 and a beta of 1.97. Joby Aviation has a 12-month low of $4.50 and a 12-month high of $7.69.

Analyst Ratings Changes

A number of research firms have weighed in on JOBY. JPMorgan Chase & Co. decreased their price target on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Wednesday, October 2nd. Canaccord Genuity Group decreased their target price on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th.

Insider Transactions at Joby Aviation

In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total value of $1,212,500.00. Following the transaction, the chief executive officer now directly owns 32,674,274 shares of the company’s stock, valued at $158,470,228.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the transaction, the chief executive officer now owns 32,674,274 shares of the company’s stock, valued at $158,470,228.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kate Dehoff sold 27,898 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $5.50, for a total transaction of $153,439.00. Following the transaction, the insider now directly owns 199,413 shares of the company’s stock, valued at approximately $1,096,771.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 525,499 shares of company stock valued at $2,667,151. 32.40% of the stock is currently owned by corporate insiders.

Joby Aviation Company Profile

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.