Joby Aviation (NYSE:JOBY) Announces Quarterly Earnings Results

Joby Aviation (NYSE:JOBY) posted its quarterly earnings data on Tuesday. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.03, Briefing.com reports. The firm had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.05 million. During the same period in the prior year, the company earned ($0.16) EPS. The company’s revenue for the quarter was down 97.5% compared to the same quarter last year.

Joby Aviation Stock Down 7.8 %

Joby Aviation stock traded down $0.42 during mid-day trading on Wednesday, hitting $4.95. 6,534,606 shares of the stock were exchanged, compared to its average volume of 4,870,113. The firm’s fifty day simple moving average is $5.12 and its two-hundred day simple moving average is $5.71. Joby Aviation has a 12 month low of $4.30 and a 12 month high of $11.98. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of -6.16 and a beta of 2.04.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upgraded Joby Aviation from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $7.67.

Insider Transactions at Joby Aviation

In related news, CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $5.18, for a total transaction of $1,295,000.00. Following the completion of the sale, the chief executive officer now owns 32,774,274 shares in the company, valued at $169,770,739.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Didier Papadopoulos sold 11,362 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $4.96, for a total value of $56,355.52. Following the sale, the insider now directly owns 68,278 shares in the company, valued at approximately $338,658.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $5.18, for a total transaction of $1,295,000.00. Following the transaction, the chief executive officer now owns 32,774,274 shares of the company’s stock, valued at approximately $169,770,739.32. The disclosure for this sale can be found here. Insiders sold a total of 553,419 shares of company stock worth $2,836,610 over the last three months. 49.50% of the stock is owned by company insiders.

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.