Joby Aviation (NYSE:JOBY) Director Paul Cahill Sciarra Sells 62,500 Shares

Joby Aviation, Inc. (NYSE:JOBY) Director Paul Cahill Sciarra sold 62,500 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $7.96, for a total transaction of $497,500.00. Following the completion of the transaction, the director directly owned 55,765,557 shares of the company’s stock, valued at $443,893,833.72. This trade represents a 0.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paul Cahill Sciarra also recently made the following trade(s):

• On Thursday, May 28th, Paul Cahill Sciarra sold 416,666 shares of Joby Aviation stock. The stock was sold at an average price of $12.02, for a total value of $5,008,325.32.

Joby Aviation Stock Performance

Joby Aviation stock opened at $7.92 on Friday. The stock has a 50-day simple moving average of $8.35 and a 200 day simple moving average of $9.37. The company has a quick ratio of 22.05, a current 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 $7.84 billion, a price-to-earnings ratio of -8.00 and a beta of 2.73.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wall Street Zen downgraded Joby Aviation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. HC Wainwright restated a “buy” rating on shares of Joby Aviation in a report on Thursday, August 6th. Susquehanna set a $18.00 target price on Joby Aviation in a research report on Thursday, August 6th. Weiss Ratings raised Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Finally, Morgan Stanley decreased their price objective on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Joby Aviation currently has an average rating of “Reduce” and an average target price of $13.81.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors have recently modified their holdings of JOBY. Lingotto Investment Management LLP boosted its position in Joby Aviation by 34.2% during the fourth quarter. Lingotto Investment Management LLP now owns 3,138,240 shares of the company’s stock valued at $41,425,000 after purchasing an additional 799,260 shares during the last quarter. DNB Asset Management AS boosted its stake in Joby Aviation by 16.3% in the 4th quarter. DNB Asset Management AS now owns 366,281 shares of the company’s stock valued at $4,835,000 after purchasing an additional 51,344 shares during the period. Vanguard Group Inc. boosted its position in shares of Joby Aviation by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock valued at $692,851,000 after acquiring an additional 2,540,382 shares during the period. Norges Bank bought a new stake in Joby Aviation in the 4th quarter valued at about $32,269,000. Finally, SummitTX Capital L.P. bought a new position in shares of Joby Aviation during the first quarter worth approximately $1,127,000. Institutional investors own 52.85% of the company’s stock.

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.