Joby Aviation, Inc. (NYSE:JOBY) Insider Sells $262,303.37 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Bonny W. Simi sold 31,489 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $8.33, for a total value of $262,303.37. Following the completion of the transaction, the insider now directly owns 137,097 shares of the company’s stock, valued at approximately $1,142,018.01. This represents a 18.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Joby Aviation Trading Down 1.1 %

NYSE JOBY opened at $8.68 on Friday. The stock has a market cap of $6.64 billion, a PE ratio of -12.39 and a beta of 2.33. Joby Aviation, Inc. has a twelve month low of $4.50 and a twelve month high of $10.72. The stock has a fifty day simple moving average of $8.09 and a 200-day simple moving average of $6.39.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The business had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter in the prior year, the company posted ($0.13) earnings per share. Research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on JOBY. JPMorgan Chase & Co. downgraded Joby Aviation from a “neutral” rating to an “underweight” rating and increased their price objective for the company from $5.00 to $6.00 in a research note on Friday, January 10th. Needham & Company LLC increased their price objective on Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Canaccord Genuity Group upped their target price on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a report on Wednesday, January 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a report on Monday, September 30th. Finally, HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.30.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently bought and sold shares of JOBY. Larson Financial Group LLC boosted its holdings in Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after acquiring an additional 5,000 shares during the period. Salem Investment Counselors Inc. boosted its holdings in Joby Aviation by 5,000.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock valued at $41,000 after acquiring an additional 5,000 shares during the period. Empowered Funds LLC purchased a new position in Joby Aviation during the 3rd quarter valued at about $51,000. Sound Income Strategies LLC boosted its holdings in Joby Aviation by 3,311.3% during the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after acquiring an additional 10,000 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in Joby Aviation by 403.0% during the 3rd quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock valued at $58,000 after acquiring an additional 9,188 shares during the period. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

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.