Joby Aviation (NYSE:JOBY) Announces Quarterly Earnings Results

Joby Aviation (NYSE:JOBY) announced its earnings results on Wednesday. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02), Briefing.com reports. The business had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 49.26%. During the same period in the prior year, the business earned ($0.13) earnings per share.

Joby Aviation Price Performance

Shares of Joby Aviation stock traded up $0.11 during trading hours on Friday, reaching $5.21. The company had a trading volume of 14,270,384 shares, compared to its average volume of 7,089,792. Joby Aviation has a one year low of $4.50 and a one year high of $7.69. The firm has a market cap of $3.73 billion, a PE ratio of -7.45 and a beta of 1.97. The business has a fifty day simple moving average of $5.31 and a 200 day simple moving average of $5.30.

Analyst Ratings Changes

A number of research firms recently issued reports on JOBY. Canaccord Genuity Group decreased their price objective on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a report on Tuesday, October 29th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Wednesday, October 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. lowered their target price on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th.

Insider Buying and Selling

In other news, insider Matthew Field sold 5,643 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $5.96, for a total transaction of $33,632.28. Following the sale, the insider now directly owns 293,143 shares in the company, valued at $1,747,132.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Matthew Field sold 5,643 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $5.96, for a total value of $33,632.28. Following the transaction, the insider now owns 293,143 shares of the company’s stock, valued at approximately $1,747,132.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kate Dehoff sold 27,898 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $5.50, for a total value of $153,439.00. Following the completion of the sale, the insider now owns 199,413 shares in the company, valued at $1,096,771.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 525,499 shares of company stock valued at $2,667,151. Corporate 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.