Joby Aviation FY2024 EPS Forecast Lowered by HC Wainwright

Joby Aviation, Inc. (NYSE:JOBY - Free Report) - HC Wainwright dropped their FY2024 earnings per share (EPS) estimates for Joby Aviation in a note issued to investors on Thursday, November 7th. HC Wainwright analyst A. Dayal now forecasts that the company will post earnings per share of ($0.72) for the year, down from their previous forecast of ($0.70). HC Wainwright has a "Buy" rating and a $9.00 price objective on the stock. The consensus estimate for Joby Aviation's current full-year earnings is ($0.69) per share. HC Wainwright also issued estimates for Joby Aviation's FY2026 earnings at ($0.81) EPS, FY2027 earnings at ($0.77) EPS and FY2028 earnings at ($0.64) EPS.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. The business had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.06 million. During the same period in the prior year, the company posted ($0.13) earnings per share.

Several other research analysts have also recently commented on the company. JPMorgan Chase & Co. reduced their target price on Joby Aviation from $6.00 to $5.00 and set a "neutral" rating for the company in a research report on Tuesday, October 29th. Canaccord Genuity Group reduced their target price on Joby Aviation from $10.50 to $9.75 and set a "buy" rating for the company in a research report on Tuesday, October 29th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Monday, September 30th.

Joby Aviation Trading Up 20.3 %

JOBY stock traded up $1.06 during midday trading on Monday, hitting $6.27. The stock had a trading volume of 40,733,316 shares, compared to its average volume of 7,243,868. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of -8.27 and a beta of 1.97. Joby Aviation has a 52 week low of $4.50 and a 52 week high of $7.69. The stock has a 50-day simple moving average of $5.31 and a 200 day simple moving average of $5.31.

Insider Buying and Selling

In related news, insider Matthew Field sold 5,643 shares of Joby Aviation stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $5.96, for a total value of $33,632.28. Following the completion of the sale, the insider now directly owns 293,143 shares in the company, valued at $1,747,132.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Eric Allison sold 27,817 shares of the business's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $5.56, for a total transaction of $154,662.52. Following the completion of the transaction, the insider now directly owns 463,151 shares in the company, valued at approximately $2,575,119.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Matthew Field sold 5,643 shares of the business's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $5.96, for a total value of $33,632.28. Following the transaction, the insider now owns 293,143 shares of the company's stock, valued at $1,747,132.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 525,499 shares of company stock worth $2,667,151 over the last three months. 32.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors have recently modified their holdings of the stock. Flaharty Asset Management LLC grew its position in shares of Joby Aviation by 25.0% during the 2nd quarter. Flaharty Asset Management LLC now owns 15,000 shares of the company's stock worth $76,000 after buying an additional 3,000 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Joby Aviation by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 50,103 shares of the company's stock valued at $269,000 after purchasing an additional 3,942 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Joby Aviation by 46.2% during the 2nd quarter. Amalgamated Bank now owns 13,905 shares of the company's stock valued at $71,000 after purchasing an additional 4,391 shares in the last quarter. Cetera Advisors LLC lifted its holdings in shares of Joby Aviation by 32.9% during the 1st quarter. Cetera Advisors LLC now owns 20,276 shares of the company's stock valued at $109,000 after purchasing an additional 5,025 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Joby Aviation by 216.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company's stock valued at $44,000 after purchasing an additional 5,840 shares in the last quarter. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Joby Aviation Company Profile

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.