Joby Aviation (NYSE:JOBY) Announces Earnings Results

Joby Aviation (NYSE:JOBY) posted its 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 during the quarter, compared to the consensus estimate of $0.05 million. The business’s revenue was down 97.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.16) EPS.

Joby Aviation Stock Performance

NYSE:JOBY traded down $0.41 during trading on Wednesday, reaching $4.96. The company’s stock had a trading volume of 6,318,057 shares, compared to its average volume of 4,868,380. Joby Aviation has a 12 month low of $4.30 and a 12 month high of $11.98. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of -6.16 and a beta of 2.04. The firm has a 50 day moving average of $5.12 and a 200-day moving average of $5.71.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upgraded 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 issued a buy rating to the stock. According to data from MarketBeat.com, Joby Aviation presently has a consensus rating of “Moderate Buy” and an average target price of $7.67.

Insider Transactions at Joby Aviation

In other Joby Aviation news, CEO Joeben Bevirt sold 5,448 shares of the business’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $4.64, for a total value of $25,278.72. Following the transaction, the chief executive officer now directly owns 662,605 shares in the company, valued at $3,074,487.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Joby Aviation news, insider Eric Allison sold 19,393 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $4.70, for a total transaction of $91,147.10. Following the sale, the insider now directly owns 422,592 shares of the company’s stock, valued at $1,986,182.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Joeben Bevirt sold 5,448 shares of Joby Aviation stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $4.64, for a total transaction of $25,278.72. Following the completion of the transaction, the chief executive officer now owns 662,605 shares of the company’s stock, valued at approximately $3,074,487.20. The disclosure for this sale can be found here. Insiders have sold 553,419 shares of company stock worth $2,836,610 in the last ninety days. Company insiders own 49.50% of the company’s stock.

About Joby Aviation

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.