Joby Aviation (NYSE:JOBY) Director Paul Cahill Sciarra Sells 416,666 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) Director Paul Cahill Sciarra sold 416,666 shares of Joby Aviation stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $12.02, for a total value of $5,008,325.32. Following the transaction, the director directly owned 55,911,391 shares of the company’s stock, valued at $672,054,919.82. The trade was a 0.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Joby Aviation Stock Up 0.8%

JOBY stock opened at $11.99 on Tuesday. The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $11.80 billion, a PE ratio of -10.43 and a beta of 2.66. Joby Aviation, Inc. has a twelve month low of $7.34 and a twelve month high of $20.95. The stock has a 50-day simple moving average of $9.54 and a two-hundred day simple moving average of $11.60.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.09. The business had revenue of $24.25 million during the quarter, compared to analyst estimates of $20.17 million. Joby Aviation had a negative return on equity of 60.54% and a negative net margin of 1,232.62%.During the same quarter in the previous year, the firm earned ($0.11) EPS. On average, equities analysts predict that Joby Aviation, Inc. will post -0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on JOBY shares. Morgan Stanley dropped their price target on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. Wall Street Zen upgraded Joby Aviation from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a research report on Thursday, March 12th. Canaccord Genuity Group dropped their price target on Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. dropped their price target on Joby Aviation from $8.00 to $7.00 and set an “underweight” rating for the company in a research report on Thursday, February 26th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Joby Aviation has an average rating of “Reduce” and an average target price of $13.06.

Institutional Trading of Joby Aviation

A number of hedge funds have recently bought and sold shares of JOBY. Vanguard Group Inc. lifted its position in Joby Aviation by 13.2% in the 3rd quarter. Vanguard Group Inc. now owns 49,948,325 shares of the company’s stock worth $806,166,000 after buying an additional 5,828,189 shares during the last quarter. Renaissance Technologies LLC lifted its position in Joby Aviation by 194.5% in the 1st quarter. Renaissance Technologies LLC now owns 4,005,200 shares of the company’s stock worth $33,083,000 after buying an additional 2,645,200 shares during the last quarter. Man Group plc purchased a new position in Joby Aviation in the 3rd quarter worth approximately $40,283,000. Norges Bank purchased a new position in Joby Aviation in the 4th quarter worth approximately $32,269,000. Finally, Clear Street Group Inc. purchased a new position in Joby Aviation in the 3rd quarter worth approximately $36,264,000. Institutional investors own 52.85% of the company’s stock.

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.