Joby Aviation (NYSE:JOBY) Releases Earnings Results, Meets Estimates

Joby Aviation (NYSE:JOBY - Get Free Report) released its quarterly earnings results on Wednesday. The company reported ($0.19) earnings per share for the quarter, hitting the consensus estimate of ($0.19), Zacks reports. The company had revenue of $0.01 million for the quarter, compared to analysts' expectations 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 Up 3.6 %

JOBY traded up $0.25 during trading on Friday, hitting $7.00. The company's stock had a trading volume of 15,978,162 shares, compared to its average volume of 13,786,622. Joby Aviation has a twelve month low of $4.50 and a twelve month high of $10.72. The stock's fifty day moving average price is $8.14 and its 200-day moving average price is $6.72. The firm has a market capitalization of $5.35 billion, a P/E ratio of -9.99 and a beta of 2.33.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, CEO Joeben Bevirt sold 23,886 shares of the business'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 of the company's stock, valued at approximately $6,207,807.44. The trade was a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Didier Papadopoulos sold 6,005 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $7.65, for a total value of $45,938.25. Following the completion of the transaction, the insider now directly owns 54,776 shares in the company, valued at approximately $419,036.40. This trade represents a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,018,699 shares of company stock valued at $8,628,124. 32.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on JOBY. JPMorgan Chase & Co. reduced their price target on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a report on Thursday. Canaccord Genuity Group boosted their price target on Joby Aviation from $9.75 to $11.50 and gave the stock a "buy" rating in a report on Wednesday, January 8th. HC Wainwright restated a "buy" rating and set a $9.00 price target on shares of Joby Aviation in a report on Thursday. Cantor Fitzgerald reiterated an "overweight" rating and issued a $9.00 target price on shares of Joby Aviation in a report on Thursday. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $10.00 target price on shares of Joby Aviation in a report on Thursday. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average 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.