Joby Aviation (NYSE:JOBY) Director Paul Cahill Sciarra Sells 62,500 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) Director Paul Sciarra sold 62,500 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $6.68, for a total transaction of $417,500.00. Following the sale, the director directly owned 55,703,057 shares of the company’s stock, valued at approximately $372,096,420.76. This trade represents a 0.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paul Cahill Sciarra also recently made the following trade(s):

• On Thursday, August 13th, Paul Sciarra sold 62,500 shares of Joby Aviation stock. The shares were sold at an average price of $7.96, for a total transaction of $497,500.00.

Joby Aviation Trading Up 0.7%

Shares of JOBY stock opened at $6.87 on Friday. The company has a quick ratio of 17.98, a current ratio of 17.98 and a debt-to-equity ratio of 0.40. Joby Aviation, Inc. has a fifty-two week low of $6.61 and a fifty-two week high of $19.98. The firm’s 50 day moving average price is $7.73 and its two-hundred day moving average price is $8.99. The stock has a market cap of $6.80 billion, a price-to-earnings ratio of -6.94 and a beta of 2.68.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%.The business had revenue of $38.64 million during the quarter, compared to analyst estimates of $30.20 million. During the same period in the previous year, the company earned ($0.41) EPS. Joby Aviation’s revenue was up 257493.3% on a year-over-year basis. On average, analysts anticipate that Joby Aviation, Inc. will post -1 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on JOBY. Barclays upgraded Joby Aviation to a “hold” rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. HC Wainwright reissued a “buy” rating on shares of Joby Aviation in a research report on Thursday, August 6th. Canaccord Genuity Group decreased their price target on Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a report on Thursday, May 7th. Finally, Wall Street Zen downgraded shares of Joby Aviation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $13.81.

Institutional Investors Weigh In On Joby Aviation

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in Joby Aviation by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 11,790,532 shares of the company’s stock valued at $155,671,000 after acquiring an additional 390,794 shares during the last quarter. State Street Corp grew its holdings in Joby Aviation by 5.0% during the 4th quarter. State Street Corp now owns 10,812,929 shares of the company’s stock worth $142,731,000 after acquiring an additional 512,129 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Joby Aviation by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,370,983 shares of the company’s stock worth $57,697,000 after purchasing an additional 271,475 shares during the last quarter. Bank of America Corp DE increased its position in shares of Joby Aviation by 41.2% in the 3rd quarter. Bank of America Corp DE now owns 4,192,109 shares of the company’s stock worth $67,661,000 after purchasing an additional 1,223,412 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Joby Aviation by 194.5% in the 1st quarter. Renaissance Technologies LLC now owns 4,005,200 shares of the company’s stock valued at $33,083,000 after purchasing an additional 2,645,200 shares in the last quarter. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

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.