Joby Aviation (NYSE:JOBY) Issues Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Joby Aviation (NYSE:JOBY) announced its earnings results on Wednesday. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02), Briefing.com reports. Joby Aviation had a negative return on equity of 49.26% and a negative net margin of 42,844.57%. The firm had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. During the same quarter in the previous year, the business earned ($0.13) earnings per share.

Joby Aviation Price Performance

JOBY stock traded up $0.09 during midday trading on Friday, hitting $5.19. The company’s stock had a trading volume of 6,128,928 shares, compared to its average volume of 7,052,458. The company’s fifty day moving average price is $5.31 and its 200 day moving average price is $5.30. The stock has a market capitalization of $3.72 billion, a P/E ratio of -7.49 and a beta of 1.97. Joby Aviation has a twelve month low of $4.50 and a twelve month high of $7.69.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, insider Didier Papadopoulos sold 6,025 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $5.33, for a total transaction of $32,113.25. Following the completion of the sale, the insider now owns 47,474 shares of the company’s stock, valued at $253,036.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Didier Papadopoulos sold 6,025 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $5.33, for a total value of $32,113.25. Following the completion of the transaction, the insider now owns 47,474 shares of the company’s stock, valued at $253,036.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Matthew Field sold 5,643 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $5.96, for a total value of $33,632.28. Following the sale, the insider now owns 293,143 shares of the company’s stock, valued at approximately $1,747,132.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 525,499 shares of company stock worth $2,667,151 over the last quarter. 32.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a research note on Monday, September 30th. Canaccord Genuity Group cut their target price on Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research report on Tuesday, October 29th. JPMorgan Chase & Co. dropped their price target on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. Finally, HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, October 2nd.

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.