Joby Aviation Insider Transaction Report

On January 2nd, Sergey Novikov, an insider at Joby Aviation, Inc. (NYSE:JOBY - Get Free Report), sold 1,835 shares of the company’s stock. The shares were sold at an average price of $8.08 each, resulting in a total sale value of $14,826.80. After this transaction, Novikov holds 45,434 shares in Joby Aviation, which are now valued at approximately $367,106.72. This sale marked a 3.88% decrease in his ownership position within the company. The details of this transaction were made public through a legal filing with the Securities & Exchange Commission, which can be found on the SEC website.

Joby Aviation Stock Performance

In trading on the day following the insider sale, Joby Aviation's stock appreciated by $1.68, reaching a price of $9.77. On that day, the trading volume totaled 29,006,756 shares, significantly higher than its average volume of 20,730,629. Over the past year, Joby Aviation's stock has experienced a low of $4.50 and a high of $9.82, bringing the company’s market capitalization to $7.47 billion. The stock currently has a price-to-earnings ratio of -13.96 and a beta of 2.32, indicating a higher volatility compared to the market. Joby also reported a 50-day moving average of $7.18 and a 200-day moving average of $6.04.

Earnings Report Overview

Joby Aviation announced its latest earnings results on November 6th, revealing a loss of ($0.21) earnings per share for the quarter, which was lower than the expected loss of ($0.19) per share. The company suffered a negative return on equity of 51.76% and a negative net margin of 42,844.57%. Joby reported revenue of $0.28 million during the quarter, surpassing analyst estimates of $0.06 million. In the prior year’s quarter, the company reported a loss of ($0.13) earnings per share. Analysts now predict that Joby Aviation will report a loss of -0.69 earnings per share for the current fiscal year.

Institutional Investor Activity

Recently, several institutional investors have made changes to their stakes in Joby Aviation. Larson Financial Group LLC increased its shareholding in the company by 218.3% during the third quarter, now owning 7,290 shares valued at $37,000 after acquiring an additional 5,000 shares. Empowered Funds LLC also initiated a new position valued at $51,000. Sound Income Strategies LLC made significant acquisitions, boosting its holdings in Joby by a staggering 3,311.3% during the same period, bringing its total to 10,302 shares worth $52,000. Other firms, including International Assets Investment Management LLC and Choreo LLC, have similarly increased their ownership stakes. Overall, institutional investors now hold about 52.85% of Joby Aviation’s stock.

Analyst Insights

Joby Aviation has received varied reactions from brokerages. Canaccord Genuity Group reduced their price target for Joby shares from $10.50 to $9.75 while maintaining a “buy” rating. HC Wainwright reiterated a “buy” rating with a target of $9.00, while Needham & Company LLC began coverage with a “buy” recommendation and a price target of $8.00. However, JPMorgan Chase & Co. lowered their price target from $6.00 to $5.00, setting a “neutral” rating. Cantor Fitzgerald upheld an “overweight” rating with a $10.00 target price. Currently, analysts hold a consensus rating of “Moderate Buy” for Joby Aviation with an average target price of $8.35.

About Joby Aviation

Joby Aviation, Inc. is a forward-looking company in the air mobility sector, primarily focusing on the development of electric vertical takeoff and landing (eVTOL) aircraft. The company’s mission is to create a sustainable aerial ridesharing service, supported by an application-based platform that facilitates ride bookings for consumers.

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