Joby Aviation (NYSE:JOBY) Insider Sells $45,594.85 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 7,663 shares of the stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $5.95, for a total value of $45,594.85. Following the completion of the transaction, the insider owned 199,006 shares in the company, valued at approximately $1,184,085.70. The trade was a 3.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Gregory Bowles also recently made the following trade(s):

• On Monday, October 5th, Gregory Bowles sold 5,302 shares of Joby Aviation stock. The stock was sold at an average price of $5.78, for a total value of $30,645.56.
• On Monday, September 21st, Gregory Bowles sold 6,138 shares of Joby Aviation stock. The shares were sold at an average price of $6.35, for a total value of $38,976.30.
• On Tuesday, August 25th, Gregory Bowles sold 4,575 shares of Joby Aviation stock. The shares were sold at an average price of $7.23, for a total value of $33,077.25.
• On Monday, August 24th, Gregory Bowles sold 3,531 shares of Joby Aviation stock. The shares were sold at an average price of $7.34, for a total transaction of $25,917.54.

Joby Aviation Stock Down 0.4%

JOBY stock opened at $5.75 on Thursday. The company has a current ratio of 17.98, a quick ratio of 17.98 and a debt-to-equity ratio of 0.40. Joby Aviation, Inc. has a twelve month low of $5.58 and a twelve month high of $18.77. The company’s 50 day moving average is $6.93 and its two-hundred day moving average is $8.37. The stock has a market cap of $5.69 billion, a P/E ratio of -5.81 and a beta of 2.66.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) earnings per share 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 company had revenue of $38.64 million for the quarter, compared to analysts’ expectations of $30.20 million. During the same quarter in the prior year, the firm posted ($0.41) EPS. The firm’s quarterly revenue was up 257493.3% compared to the same quarter last year. Research analysts expect that Joby Aviation, Inc. will post -1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on JOBY. Weiss Ratings upgraded shares of Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Cantor Fitzgerald reissued a “neutral” rating on shares of Joby Aviation in a report on Monday, September 21st. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a research report on Monday, September 21st. Needham & Company LLC dropped their price target on Joby Aviation from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Finally, Barclays raised Joby Aviation to a “hold” rating in a research report on Wednesday, July 29th. Two research analysts have 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 company has an average rating of “Reduce” and a consensus price target of $13.81.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Clear Street Group Inc. increased its stake in Joby Aviation by 59.9% in the fourth quarter. Clear Street Group Inc. now owns 3,593,043 shares of the company’s stock valued at $47,428,000 after purchasing an additional 1,346,205 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Joby Aviation by 194.5% during the first quarter. Renaissance Technologies LLC now owns 4,005,200 shares of the company’s stock worth $33,083,000 after buying an additional 2,645,200 shares during the period. Norges Bank acquired a new stake in shares of Joby Aviation during the fourth quarter worth about $32,269,000. Amova Asset Management Americas Inc. grew its holdings in shares of Joby Aviation by 0.9% during the fourth quarter. Amova Asset Management Americas Inc. now owns 1,808,251 shares of the company’s stock worth $23,851,000 after buying an additional 16,862 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Joby Aviation by 48.1% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,679,515 shares of the company’s stock valued at $22,133,000 after acquiring an additional 870,244 shares during the period. 52.85% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Joby Aviation

Here are the key news stories impacting Joby Aviation this week:

• Positive Sentiment: Joby’s flight operations are adopting BitRipple’s LT3 connectivity system, which combines satellite and cellular networks for real-time, flight-critical telemetry and monitoring. The deployment supports the reliability and operational infrastructure needed for advanced air mobility. BitRipple LT3 Deployed Across Joby Flight Operations
• Positive Sentiment: ARK Invest, led by Cathie Wood, continued to invest in Joby and other flying-taxi companies. The buying provides a favorable signal from a high-profile growth investor, although it does not change Joby’s near-term certification and cash-burn risks. Cathie Wood Bets Big on Flying Taxis
• Neutral Sentiment: A long-term investment analysis argues that JOBY could have substantial upside by 2029 if it secures regulatory approval, launches commercial flights and scales production. However, Joby remains a speculative, loss-making company with no commercial air-taxi service yet, so the projection is highly dependent on execution. Prediction: Here’s What a $5,000 Investment in Joby Aviation Will Be Worth in 3 Years
• Neutral Sentiment: Several insiders, including CEO JoeBen Bevirt, CFO Rodrigo Brumana, Gregory Bowles, Sergey Novikov, Bonny Simi, Kate Dehoff and others, reported share sales. Some transactions were conducted under Rule 10b5-1 plans or to cover tax withholding, limiting their significance, but the concentration of sales may weigh on investor sentiment.
• Negative Sentiment: The $116.9 million verdict is the dominant near-term overhang. It could reduce Joby’s cash runway, increase legal costs and distract management as the company works toward aircraft certification, manufacturing scale-up and commercial operations. Joby Aviation Hit With $116.9 Million Verdict in Trade Secrets Lawsuit

Joby Aviation Company Profile

Joby Aviation, Inc (NYSE: JOBY) is an aviation company developing all-electric vertical takeoff and landing (eVTOL) aircraft for commercial passenger transportation. Its aircraft are designed to take off and land vertically like a helicopter while providing quieter, lower-emission transportation for short urban and regional trips.

The company is pursuing an integrated air-taxi business model that includes designing and manufacturing its aircraft, operating passenger services, and developing the software and infrastructure needed to support aerial mobility.