Joby Aviation, Inc. to Post Q3 2024 Earnings of ($0.19) Per Share, HC Wainwright Forecasts (NYSE:JOBY)

Joby Aviation, Inc. (NYSE:JOBY) – Analysts at HC Wainwright issued their Q3 2024 EPS estimates for shares of Joby Aviation in a research note issued to investors on Tuesday, September 3rd. HC Wainwright analyst A. Dayal expects that the company will post earnings of ($0.19) per share for the quarter. 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 Q4 2024 earnings at ($0.19) EPS, FY2024 earnings at ($0.70) EPS, FY2025 earnings at ($0.84) EPS, FY2026 earnings at ($0.80) EPS, FY2027 earnings at ($0.76) EPS and FY2028 earnings at ($0.62) EPS.

Joby Aviation (NYSE:JOBY) last released its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.18). The firm had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.28 million. During the same period in the prior year, the firm earned ($0.17) EPS.

A number of other research analysts have also commented on JOBY. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, Canaccord Genuity Group cut their price objective on shares of Joby Aviation from $11.00 to $10.50 and set a “buy” rating for the company in a research report on Thursday, August 8th.

Joby Aviation Stock Performance

Shares of JOBY opened at $4.84 on Friday. The company has a 50-day simple moving average of $5.51 and a 200-day simple moving average of $5.25. The firm has a market capitalization of $3.46 billion, a P/E ratio of -6.36 and a beta of 1.98. Joby Aviation has a 52 week low of $4.50 and a 52 week high of $7.69.

Institutional Trading of Joby Aviation

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Joby Aviation by 9.1% during the first quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after buying an additional 2,889,012 shares during the last quarter. 8VC GP I LLC bought a new stake in Joby Aviation during the fourth quarter worth about $95,727,000. Ieq Capital LLC grew its stake in Joby Aviation by 68.6% during the second quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after buying an additional 1,807,054 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Joby Aviation by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,818,603 shares of the company’s stock worth $25,394,000 after buying an additional 64,404 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Joby Aviation during the first quarter worth about $15,357,000. 45.54% of the stock is owned by institutional investors.

Insider Activity at Joby Aviation

In related news, insider Kate Dehoff sold 12,500 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $5.50, for a total value of $68,750.00. Following the sale, the insider now owns 189,163 shares of the company’s stock, valued at $1,040,396.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Joby Aviation news, insider Didier Papadopoulos sold 7,262 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $5.15, for a total transaction of $37,399.30. Following the sale, the insider now directly owns 65,561 shares of the company’s stock, valued at $337,639.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kate Dehoff sold 12,500 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $5.50, for a total transaction of $68,750.00. Following the sale, the insider now directly owns 189,163 shares in the company, valued at $1,040,396.50. The disclosure for this sale can be found here. Insiders have sold a total of 326,032 shares of company stock valued at $1,613,336 over the last quarter. 32.40% 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.