Joby Aviation (NYSE:JOBY) CEO Joeben Bevirt Sells 1,630 Shares

Joby Aviation, Inc. (NYSE:JOBY) CEO Joeben Bevirt sold 1,630 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $14.83, for a total value of $24,172.90. Following the completion of the transaction, the chief executive officer owned 291,555 shares in the company, valued at approximately $4,323,760.65. This trade represents a 0.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Joeben Bevirt also recently made the following trade(s):

• On Friday, January 2nd, Joeben Bevirt sold 23,552 shares of Joby Aviation stock. The shares were sold at an average price of $13.51, for a total value of $318,187.52.

Joby Aviation Stock Performance

Shares of JOBY stock opened at $15.11 on Thursday. Joby Aviation, Inc. has a fifty-two week low of $4.96 and a fifty-two week high of $20.95. The stock’s fifty day moving average is $14.53 and its two-hundred day moving average is $15.17. The firm has a market capitalization of $13.78 billion, a P/E ratio of -11.28 and a beta of 2.56.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.29). The firm had revenue of $22.57 million for the quarter, compared to analyst estimates of $0.02 million. The firm’s revenue was up 7962.1% on a year-over-year basis. During the same period last year, the business earned ($0.21) EPS. On average, equities analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Joby Aviation News Roundup

Here are the key news stories impacting Joby Aviation this week:

• Positive Sentiment: Joby will expand manufacturing capacity with an acquisition of a new Ohio facility — the move should help scale production and shorten time-to-delivery as Joby ramps toward commercial service, supporting long?term revenue and margin improvement. Read More.
• Positive Sentiment: Joby partnered with Metropolis to build 25 vertiports across the U.S., a key infrastructure deal that de?risks market access and supports launch plans for its air?taxi service — this increases the credibility of near?term commercialization and potential localized recurring revenue streams. Read More.
• Negative Sentiment: Multiple insiders (including CEO Joeben Bevirt, CFO Rodrigo Brumana and several senior executives) sold shares across filings on Jan. 13–14 — aggregating into sizable, public reductions of insider positions. While insider sales can reflect diversification or liquidity needs, the breadth and scale of the transactions can be interpreted as a near?term negative signal by investors. See representative SEC Form 4 filing (CEO). Read More.

Wall Street Analyst Weigh In

A number of brokerages recently commented on JOBY. Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a research report on Wednesday, October 8th. Needham & Company LLC reiterated a “buy” rating and set a $22.00 price target on shares of Joby Aviation in a report on Thursday, November 6th. JPMorgan Chase & Co. boosted their price target on shares of Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Friday, October 31st. Morgan Stanley upped their price objective on shares of Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, October 9th. Finally, Zacks Research raised shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $13.43.

Hedge Funds Weigh In On Joby Aviation

Hedge funds have recently modified their holdings of the business. Asset Planning Inc increased its position in shares of Joby Aviation by 70.0% during the 3rd quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock worth $27,000 after purchasing an additional 700 shares during the last quarter. Strategic Advocates LLC purchased a new position in Joby Aviation during the third quarter worth about $29,000. Canton Hathaway LLC acquired a new stake in shares of Joby Aviation during the third quarter valued at about $29,000. Hilltop National Bank purchased a new stake in shares of Joby Aviation in the 3rd quarter valued at approximately $32,000. Finally, Ancora Advisors LLC acquired a new position in shares of Joby Aviation in the 3rd quarter worth approximately $35,000. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Joby Aviation Company Profile

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.