Joby Aviation (NYSE:JOBY) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Joby Aviation (NYSE:JOBY) released its quarterly earnings results on Wednesday. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01), Briefing.com reports. The company had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. During the same period in the prior year, the firm earned ($0.13) earnings per share.

Joby Aviation Trading Up 0.6 %

Shares of JOBY stock traded up $0.03 during trading hours on Thursday, hitting $5.10. 17,146,111 shares of the company were exchanged, compared to its average volume of 7,056,128. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of -10.43 and a beta of 1.97. The firm has a fifty day simple moving average of $5.31 and a 200 day simple moving average of $5.30. Joby Aviation has a 52-week low of $4.50 and a 52-week high of $7.69.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on JOBY shares. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th. Canaccord Genuity Group dropped their target price on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. JPMorgan Chase & Co. reduced their target price 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 reiterated a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a report on Wednesday, October 2nd.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Gregory Bowles sold 26,775 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $5.14, for a total value of $137,623.50. Following the sale, the insider now directly owns 18,035 shares in the company, valued at $92,699.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Joby Aviation news, insider Gregory Bowles sold 26,775 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $5.14, for a total transaction of $137,623.50. Following the completion of the transaction, the insider now owns 18,035 shares in the company, valued at $92,699.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joeben Bevirt sold 250,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the completion of the sale, the chief executive officer now directly owns 32,674,274 shares in the company, valued at approximately $158,470,228.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 525,499 shares of company stock worth $2,667,151. Insiders own 32.40% of the company’s stock.

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.