Gregory Bowles Sells 3,531 Shares of Joby Aviation (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 3,531 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $7.34, for a total transaction of $25,917.54. Following the transaction, the insider directly owned 196,561 shares of the company’s stock, valued at $1,442,757.74. This represents a 1.76% decrease in their position. The sale was disclosed in a filing with the SEC, 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 Tuesday, August 25th, Gregory Bowles sold 4,575 shares of Joby Aviation stock. The stock was sold at an average price of $7.23, for a total value of $33,077.25.
• On Monday, July 6th, Gregory Bowles sold 4,724 shares of Joby Aviation stock. The stock was sold at an average price of $9.10, for a total value of $42,988.40.
• On Thursday, July 2nd, Gregory Bowles sold 5,158 shares of Joby Aviation stock. The stock was sold at an average price of $8.92, for a total transaction of $46,009.36.

Joby Aviation Stock Performance

JOBY stock opened at $7.18 on Thursday. The stock’s 50 day simple moving average is $8.05 and its 200 day simple moving average is $9.13. The company has a current ratio of 17.98, a quick ratio of 17.98 and a debt-to-equity ratio of 0.40. Joby Aviation, Inc. has a 12-month low of $6.63 and a 12-month high of $19.98. The stock has a market capitalization of $7.10 billion, a PE ratio of -7.25 and a beta of 2.73.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%.The company had revenue of $38.64 million during the quarter, compared to the consensus estimate of $30.20 million. During the same quarter in the prior year, the firm earned ($0.41) earnings per share. The business’s revenue was up 257493.3% compared to the same quarter last year. As a group, research analysts forecast that Joby Aviation, Inc. will post -1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

JOBY has been the topic of a number of analyst reports. Weiss Ratings raised Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Wall Street Zen lowered shares of Joby Aviation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. HC Wainwright reissued a “buy” rating on shares of Joby Aviation in a research note on Thursday, August 6th. Needham & Company LLC lowered their target price on shares of Joby Aviation from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Finally, Barclays raised Joby Aviation to a “hold” rating in a report on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Joby Aviation presently has an average rating of “Reduce” and an average price target of $13.81.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. EP Wealth Advisors LLC increased its position in shares of Joby Aviation by 2.2% during the second quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company’s stock worth $403,000 after purchasing an additional 821 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in Joby Aviation by 38.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,256 shares of the company’s stock worth $56,000 after buying an additional 1,188 shares during the last quarter. Strs Ohio raised its holdings in shares of Joby Aviation by 2.5% in the first quarter. Strs Ohio now owns 50,000 shares of the company’s stock worth $413,000 after buying an additional 1,200 shares during the last quarter. Scotia Capital Inc. lifted its stake in shares of Joby Aviation by 8.1% during the third quarter. Scotia Capital Inc. now owns 16,663 shares of the company’s stock worth $269,000 after buying an additional 1,250 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of Joby Aviation by 23.3% during the third quarter. Parallel Advisors LLC now owns 6,845 shares of the company’s stock worth $110,000 after buying an additional 1,295 shares during the period. 52.85% of the stock is owned by hedge funds and other institutional investors.

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.