Joby Aviation (NYSE:JOBY) Insider Gregory Bowles Sells 4,602 Shares of Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 4,602 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $11.47, for a total value of $52,784.94. Following the transaction, the insider directly owned 182,319 shares in the company, valued at approximately $2,091,198.93. This represents a 2.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Gregory Bowles also recently made the following trade(s):

• On Friday, May 22nd, Gregory Bowles sold 3,486 shares of Joby Aviation stock. The stock was sold at an average price of $10.74, for a total value of $37,439.64.
• On Wednesday, April 8th, Gregory Bowles sold 357 shares of Joby Aviation stock. The stock was sold at an average price of $8.87, for a total value of $3,166.59.
• On Monday, April 6th, Gregory Bowles sold 4,720 shares of Joby Aviation stock. The stock was sold at an average price of $8.76, for a total value of $41,347.20.
• On Wednesday, March 11th, Gregory Bowles sold 1,075 shares of Joby Aviation stock. The stock was sold at an average price of $9.90, for a total value of $10,642.50.
• On Tuesday, March 10th, Gregory Bowles sold 1,172 shares of Joby Aviation stock. The stock was sold at an average price of $10.25, for a total value of $12,013.00.

Joby Aviation Trading Up 5.7%

Shares of Joby Aviation stock opened at $11.54 on Wednesday. Joby Aviation, Inc. has a fifty-two week low of $6.72 and a fifty-two week high of $20.95. The firm has a market cap of $11.35 billion, a PE ratio of -10.03 and a beta of 2.61. The business’s fifty day moving average is $9.37 and its two-hundred day moving average is $11.70. The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. Joby Aviation had a negative return on equity of 60.54% and a negative net margin of 1,232.62%.The company had revenue of $24.25 million for the quarter, compared to analyst estimates of $20.17 million. During the same quarter in the prior year, the company posted ($0.11) EPS. Analysts anticipate that Joby Aviation, Inc. will post -0.83 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Strategic Advocates LLC purchased a new position in shares of Joby Aviation in the 3rd quarter worth $29,000. Fifth Third Bancorp raised its position in shares of Joby Aviation by 207.4% in the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock worth $26,000 after buying an additional 1,348 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Joby Aviation in the 4th quarter worth $28,000. Ancora Advisors LLC purchased a new position in shares of Joby Aviation in the 3rd quarter worth $35,000. Finally, Pandora Wealth Inc. purchased a new position in shares of Joby Aviation in the 4th quarter worth $32,000. 52.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

JOBY has been the topic of a number of recent analyst reports. Wall Street Zen raised Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Oppenheimer set a $18.00 target price on Joby Aviation in a research report on Thursday, February 26th. JPMorgan Chase & Co. cut their target price on Joby Aviation from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Thursday, February 26th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a research report on Thursday, March 12th. Finally, Weiss Ratings lowered Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Joby Aviation currently has a consensus rating of “Reduce” and an average price target of $13.06.

About Joby Aviation

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.