Joby Aviation (NYSE:JOBY) Insider Sells $1,525,896.05 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Bonny Simi sold 110,173 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $13.85, for a total value of $1,525,896.05. Following the sale, the insider directly owned 125,114 shares of the company’s stock, valued at $1,732,828.90. This trade represents a 46.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Joby Aviation Stock Performance

Shares of Joby Aviation stock traded up $1.65 during trading on Monday, hitting $16.01. 36,750,666 shares of the stock traded hands, compared to its average volume of 29,296,010. The company has a fifty day moving average price of $14.64 and a two-hundred day moving average price of $14.84. Joby Aviation, Inc. has a twelve month low of $4.96 and a twelve month high of $20.95. 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 issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The company had revenue of $22.57 million for the quarter, compared to analysts’ expectations of $0.02 million. The business’s quarterly revenue was up 7962.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. On average, equities research analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in JOBY. Asset Planning Inc lifted its position in shares of Joby Aviation by 70.0% in the 3rd quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock worth $27,000 after acquiring an additional 700 shares during the period. Strategic Advocates LLC bought a new position in Joby Aviation in the third quarter worth $29,000. Canton Hathaway LLC acquired a new stake in Joby Aviation during the third quarter worth $29,000. Hilltop National Bank acquired a new stake in Joby Aviation during the third quarter worth $32,000. Finally, Ancora Advisors LLC bought a new stake in Joby Aviation in the 3rd quarter valued at $35,000. 52.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Joby Aviation in a report on Wednesday, October 8th. HC Wainwright reissued a “neutral” rating on shares of Joby Aviation in a report on Monday, November 24th. The Goldman Sachs Group began 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. Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of Joby Aviation in a report on Thursday, November 6th. Finally, JPMorgan Chase & Co. increased their price target on Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Friday, October 31st. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $13.43.

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.