Joby Aviation (NYSE:JOBY) Insider Sells $73,588.97 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Eric Allison sold 5,447 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $13.51, for a total transaction of $73,588.97. Following the transaction, the insider directly owned 667,588 shares in the company, valued at approximately $9,019,113.88. The trade was a 0.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Eric Allison also recently made the following trade(s):

• On Tuesday, December 30th, Eric Allison sold 32,448 shares of Joby Aviation stock. The shares were sold at an average price of $13.25, for a total transaction of $429,936.00.
• On Monday, October 13th, Eric Allison sold 27,537 shares of Joby Aviation stock. The shares were sold at an average price of $16.84, for a total transaction of $463,723.08.

Joby Aviation Trading Up 11.5%

Joby Aviation stock traded up $1.65 during mid-day trading on Monday, hitting $16.01. 36,750,666 shares of the company’s stock were exchanged, compared to its average volume of 29,296,010. Joby Aviation, Inc. has a 1-year low of $4.96 and a 1-year high of $20.95. The stock has a 50 day moving average of $14.64 and a two-hundred day moving average of $14.84. The stock has a market cap of $14.60 billion, a P/E ratio of -11.95 and a beta of 2.56.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The firm had revenue of $22.57 million during the quarter, compared to the consensus estimate of $0.02 million. The business’s quarterly revenue was up 7962.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.21) EPS. As a group, research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on JOBY shares. JPMorgan Chase & Co. lifted their price target on shares of Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Friday, October 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a research report on Wednesday, October 8th. The Goldman Sachs Group started coverage on Joby Aviation in a research note on Monday, December 1st. They issued a “sell” rating and a $10.00 price objective on the stock. Zacks Research upgraded Joby Aviation from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Morgan Stanley increased their price objective on Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Joby Aviation presently has a consensus rating of “Reduce” and a consensus price target of $13.43.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Asset Planning Inc lifted its position in Joby Aviation by 70.0% in the third quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock worth $27,000 after purchasing an additional 700 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Joby Aviation by 284.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after buying an additional 1,880 shares during the period. Canton Hathaway LLC acquired a new position in shares of Joby Aviation in the 3rd quarter valued at $29,000. Strategic Advocates LLC bought a new position in shares of Joby Aviation during the 3rd quarter worth about $29,000. Finally, Hilltop National Bank acquired a new stake in shares of Joby Aviation during the 3rd quarter valued at about $32,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

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.