Joby Aviation (NYSE:JOBY) Issues Quarterly Earnings Results

Joby Aviation (NYSE:JOBY) announced its quarterly earnings data on Wednesday. The company reported ($0.21) earnings per share (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 during the quarter, compared to analysts’ expectations of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 49.26%. During the same period last year, the company posted ($0.13) EPS.

Joby Aviation Stock Up 1.8 %

Shares of JOBY stock traded up $0.09 on Friday, hitting $5.19. The stock had a trading volume of 6,128,928 shares, compared to its average volume of 7,052,458. The company has a market cap of $3.72 billion, a PE ratio of -7.49 and a beta of 1.97. The business has a 50 day moving average price of $5.31 and a 200 day moving average price of $5.30. Joby Aviation has a one year low of $4.50 and a one year high of $7.69.

Insider Buying and Selling

In related news, CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the sale, the chief executive officer now directly owns 32,674,274 shares of the company’s stock, valued at $158,470,228.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Joby Aviation news, insider Matthew Field sold 5,643 shares of Joby Aviation stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $5.96, for a total value of $33,632.28. Following the completion of the transaction, the insider now directly owns 293,143 shares of the company’s stock, valued at $1,747,132.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total value of $1,212,500.00. Following the completion of the sale, the chief executive officer now owns 32,674,274 shares in the company, valued at approximately $158,470,228.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 525,499 shares of company stock valued at $2,667,151 over the last 90 days. Corporate insiders own 32.40% of the company’s stock.

Analyst Ratings Changes

JOBY has been the topic of several recent analyst reports. Canaccord Genuity Group cut their target price on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered their target price on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a report on Monday, September 30th.

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.