Joby Aviation (NYSE:JOBY) Insider Eric Allison Sells 27,593 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Eric Allison sold 27,593 shares of the stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $5.09, for a total transaction of $140,448.37. Following the sale, the insider directly owned 745,120 shares of the company’s stock, valued at $3,792,660.80. This represents a 3.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Friday, October 2nd, Eric Allison sold 9,331 shares of Joby Aviation stock. The stock was sold at an average price of $5.95, for a total transaction of $55,519.45.

Joby Aviation Stock Down 6.8%

Shares of NYSE:JOBY opened at $4.62 on Thursday. Joby Aviation, Inc. has a 12 month low of $4.61 and a 12 month high of $18.77. The company’s fifty day simple moving average is $6.70 and its 200 day simple moving average is $8.24. The company has a debt-to-equity ratio of 0.40, a quick ratio of 17.98 and a current ratio of 17.98.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The company had revenue of $38.64 million during the quarter, compared to the consensus estimate of $30.20 million. Joby Aviation had a negative net margin of 755.11% and a negative return on equity of 55.29%. The company’s revenue was up 257493.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.41) earnings per share. As a group, equities research analysts predict that Joby Aviation, Inc. will post -1.00 earnings per share for the current fiscal year.

Key Stories Impacting Joby Aviation

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

• Positive Sentiment: Joby’s potential upside remains tied to regulatory approval for commercial air-taxi operations. The company has begun flights in Texas, exceeded recent revenue expectations and has a manufacturing relationship with Toyota. A favorable regulatory decision could materially improve the valuation. Joby Could Be Worth Far More If One Piece of the Puzzle Falls Into Place
• Positive Sentiment: Some analysts still see significant long-term value, with the reported average price target at $12.72, well above the recent trading level. However, that consensus masks a widening divide between bullish commercialization expectations and bearish execution concerns. Joby Aviation Stock Has Average Target Price of $12.72 According to Analysts
• Neutral Sentiment: Insiders Eric Allison and Kate Dehoff sold shares to cover tax-withholding obligations from vested equity awards. The transactions reduced their holdings, but were described as tax-related sales rather than discretionary dispositions, limiting their significance as a signal of management’s outlook. SEC Filing for Eric Allison
• Negative Sentiment: Barclays cut its price target from $6 to $4 and downgraded Joby to Underweight following an October legal verdict. The move reinforces investor concerns about valuation, execution and the implications of the verdict for Joby’s growth and defense-related opportunities. Joby Aviation Stock Gets Fair Value Trim As Analyst Views Split After Verdict
• Negative Sentiment: Commentary also highlights competition, financing needs and doubts over whether Joby’s factory can support its ambitious production plans. These concerns have outweighed optimism about future air-taxi demand and contributed to the stock reaching a new 12-month low. Why Barclays Doubts Joby’s Factory Can Keep Up

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on JOBY. Weiss Ratings restated a “sell (d-)” rating on shares of Joby Aviation in a report on Monday. Susquehanna set a $18.00 price objective on Joby Aviation in a report on Thursday, August 6th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Joby Aviation in a report on Monday, September 21st. Barclays initiated coverage on Joby Aviation in a research report on Friday, October 9th. They issued an “underweight” rating and a $4.00 target price on the stock. Finally, Needham & Company LLC cut their target price 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. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Joby Aviation has a consensus rating of “Reduce” and a consensus target price of $12.72.

Institutional Trading of Joby Aviation

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Accel Wealth Management bought a new position in Joby Aviation during the third quarter worth about $64,000. Green Alpha Advisors LLC lifted its position in shares of Joby Aviation by 60.3% in the third quarter. Green Alpha Advisors LLC now owns 66,654 shares of the company’s stock valued at $403,000 after buying an additional 25,086 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Joby Aviation by 60.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 36,572 shares of the company’s stock worth $221,000 after acquiring an additional 13,816 shares during the period. QRG Capital Management Inc. boosted its stake in shares of Joby Aviation by 116.4% during the 2nd quarter. QRG Capital Management Inc. now owns 33,868 shares of the company’s stock worth $302,000 after acquiring an additional 18,219 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Joby Aviation by 22.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 385,572 shares of the company’s stock worth $3,439,000 after acquiring an additional 70,772 shares during the period. Institutional investors own 52.85% of the company’s stock.

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.