Joby Aviation (NYSE:JOBY) Issues Earnings Results

Joby Aviation (NYSE:JOBY - Get Free Report) announced its earnings results on Wednesday. The company reported ($0.19) EPS for the quarter, hitting the consensus estimate of ($0.19), Zacks reports. The firm had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.05 million. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%.

Joby Aviation Stock Performance

Shares of NYSE:JOBY traded up $0.25 during midday trading on Friday, reaching $7.00. The company's stock had a trading volume of 15,978,162 shares, compared to its average volume of 13,786,622. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of -9.99 and a beta of 2.33. The firm has a 50 day moving average price of $8.14 and a two-hundred day moving average price of $6.72. Joby Aviation has a fifty-two week low of $4.50 and a fifty-two week high of $10.72.

Insider Activity

In related news, Director Paul Cahill Sciarra sold 333,332 shares of the company's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $8.00, for a total transaction of $2,666,656.00. Following the transaction, the director now directly owns 58,994,729 shares of the company's stock, valued at approximately $471,957,832. This represents a 0.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joeben Bevirt sold 23,886 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $8.08, for a total value of $192,998.88. Following the transaction, the chief executive officer now directly owns 768,293 shares in the company, valued at approximately $6,207,807.44. This trade represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,018,699 shares of company stock valued at $8,628,124 in the last ninety days. 32.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on JOBY. Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 target price on shares of Joby Aviation in a report on Thursday. Canaccord Genuity Group lifted their target price on Joby Aviation from $9.75 to $11.50 and gave the stock a "buy" rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price objective on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a research note on Thursday. Cantor Fitzgerald reissued an "overweight" rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Thursday. Finally, HC Wainwright reissued a "buy" rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Thursday. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, Joby Aviation has an average rating of "Moderate Buy" and a consensus target price of $8.90.

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.