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

Joby Aviation, Inc. (NYSE:JOBY) Director Paul Sciarra sold 62,500 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $4.97, for a total value of $310,625.00. Following the completion of the sale, the director owned 55,578,057 shares of the company’s stock, valued at approximately $276,222,943.29. This represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, October 2nd, Paul Sciarra sold 62,500 shares of Joby Aviation stock. The stock was sold at an average price of $6.09, for a total value of $380,625.00.
• On Wednesday, September 2nd, Paul Sciarra sold 62,500 shares of Joby Aviation stock. The stock was sold at an average price of $6.68, for a total value of $417,500.00.
• On Thursday, August 13th, Paul Sciarra sold 62,500 shares of Joby Aviation stock. The shares were sold at an average price of $7.96, for a total value of $497,500.00.

Joby Aviation Stock Up 0.7%

Joby Aviation stock traded up $0.04 during mid-day trading on Tuesday, reaching $4.84. The stock had a trading volume of 11,089,195 shares, compared to its average volume of 30,184,814. The firm has a market capitalization of $4.79 billion, a PE ratio of -4.89 and a beta of 2.66. Joby Aviation, Inc. has a fifty-two week low of $4.43 and a fifty-two week high of $17.10. The stock’s 50-day simple moving average is $5.88 and its 200-day simple moving average is $8.64. The company has a debt-to-equity ratio of 0.40, a quick ratio of 17.98 and a current ratio of 17.98.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share 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 firm had revenue of $38.64 million for the quarter, compared to analyst estimates of $30.20 million. During the same period in the previous year, the company earned ($0.41) earnings per share. Joby Aviation’s revenue for the quarter was up 257493.3% compared to the same quarter last year. On average, sell-side analysts forecast that Joby Aviation, Inc. will post -1.00 EPS for the current fiscal year.

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors have recently added to or reduced their stakes in JOBY. Pictet Asset Management Holding SA increased its position in shares of Joby Aviation by 14.1% during the third quarter. Pictet Asset Management Holding SA now owns 39,640 shares of the company’s stock valued at $240,000 after acquiring an additional 4,896 shares during the last quarter. Parallel Advisors LLC boosted its position in Joby Aviation by 42.5% during the third quarter. Parallel Advisors LLC now owns 8,597 shares of the company’s stock worth $52,000 after purchasing an additional 2,562 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Joby Aviation in the third quarter worth about $76,000. Kestra Advisory Services LLC boosted its holdings in Joby Aviation by 65.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 95,658 shares of the company’s stock worth $579,000 after buying an additional 37,840 shares during the period. Finally, Gerber Kawasaki Wealth & Investment Management bought a new stake in Joby Aviation during the 3rd quarter valued at $74,000. 52.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on JOBY shares. HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a research note on Monday, September 21st. Wall Street Zen cut shares of Joby Aviation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a report on Monday, October 12th. Susquehanna set a $18.00 target price on shares of Joby Aviation in a research report on Thursday, August 6th. Finally, Barclays initiated coverage on shares of Joby Aviation in a report on Friday, October 9th. They issued an “underweight” rating and a $4.00 target price on the stock. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $12.39.

About Joby Aviation

Joby Aviation, Inc is an aerospace company developing all-electric vertical takeoff and landing (eVTOL) aircraft for commercial passenger transportation. Its aircraft are designed to take off and land vertically like a helicopter while operating with the range and speed of a conventional aircraft, supporting quiet, low-emission air taxi services and other urban and regional transportation applications.

Founded in 2009 by JoeBen Bevirt, Joby is pursuing the certification, production and commercial deployment of its piloted aircraft.