Joby Aviation (NYSE:JOBY) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Joby Aviation (NYSE:JOBY) released its quarterly earnings data on Tuesday. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.03, Briefing.com reports. The business had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $0.05 million. The firm’s revenue was down 97.5% on a year-over-year basis. During the same period last year, the company earned ($0.16) earnings per share.

Joby Aviation Stock Up 3.3 %

JOBY stock traded up $0.16 during mid-day trading on Thursday, hitting $5.05. 1,515,734 shares of the company were exchanged, compared to its average volume of 4,853,338. The firm has a market capitalization of $3.55 billion, a P/E ratio of -6.02 and a beta of 2.04. The business has a fifty day simple moving average of $5.11 and a 200-day simple moving average of $5.70. Joby Aviation has a 12-month low of $4.47 and a 12-month high of $11.98.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. raised shares of Joby Aviation from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Joby Aviation presently has an average rating of “Moderate Buy” and an average target price of $7.67.

Insiders Place Their Bets

In other news, CEO Joeben Bevirt sold 5,448 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $4.64, for a total value of $25,278.72. Following the completion of the transaction, the chief executive officer now owns 662,605 shares of the company’s stock, valued at $3,074,487.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Paul Cahill Sciarra sold 202,080 shares of Joby Aviation stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $5.07, for a total value of $1,024,545.60. Following the completion of the transaction, the director now owns 59,994,725 shares in the company, valued at $304,173,255.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joeben Bevirt sold 5,448 shares of Joby Aviation stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $4.64, for a total transaction of $25,278.72. Following the completion of the transaction, the chief executive officer now owns 662,605 shares of the company’s stock, valued at approximately $3,074,487.20. The disclosure for this sale can be found here. Insiders sold a total of 553,419 shares of company stock valued at $2,836,610 over the last 90 days. 49.50% of the stock is owned by company insiders.

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.