Joby Aviation (NYSE:JOBY) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Joby Aviation (NYSE:JOBY) posted its quarterly earnings results on Tuesday. The company reported ($0.14) earnings per share (EPS) 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 last year, the company posted ($0.16) earnings per share. The business’s revenue was down 97.5% compared to the same quarter last year.

Joby Aviation Stock Performance

Shares of NYSE JOBY traded down $0.44 during trading hours on Wednesday, hitting $4.93. 6,796,643 shares of the stock were exchanged, compared to its average volume of 4,873,837. Joby Aviation has a 1-year low of $4.30 and a 1-year high of $11.98. The company has a market cap of $3.47 billion, a PE ratio of -6.16 and a beta of 2.04. The company’s fifty day simple moving average is $5.12 and its two-hundred day simple moving average is $5.71.

Insider Activity at Joby Aviation

In other news, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $5.18, for a total value of $1,295,000.00. Following the completion of the transaction, the chief executive officer now owns 32,774,274 shares of the company’s stock, valued at $169,770,739.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Joeben Bevirt sold 250,000 shares of the company’s 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 sale, the chief executive officer now owns 32,774,274 shares in the company, valued at approximately $169,770,739.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul Cahill Sciarra sold 202,080 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $5.07, for a total value of $1,024,545.60. Following the transaction, the director now owns 59,994,725 shares in the company, valued at $304,173,255.75. The disclosure for this sale can be found here. Insiders have sold 553,419 shares of company stock valued at $2,836,610 over the last ninety days. 49.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.