Joby Aviation, Inc. (NYSE:JOBY) Director Sells $858,329.90 in Stock

Joby Aviation, Inc. (NYSE:JOBY) Director Paul Cahill Sciarra sold 166,666 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $5.15, for a total transaction of $858,329.90. Following the completion of the sale, the director now owns 59,828,059 shares in the company, valued at $308,114,503.85. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Joby Aviation Stock Performance

Shares of JOBY traded up $1.34 during midday trading on Wednesday, hitting $6.14. The company had a trading volume of 70,725,050 shares, compared to its average volume of 5,875,340. The company’s 50-day simple moving average is $5.23 and its 200-day simple moving average is $5.21. Joby Aviation, Inc. has a 1 year low of $4.50 and a 1 year high of $7.69. The firm has a market capitalization of $4.40 billion, a P/E ratio of -7.89 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, meeting analysts’ consensus estimates of ($0.18). The firm had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.28 million. During the same period in the prior year, the company posted ($0.17) earnings per share. Equities analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on JOBY shares. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research note on Monday. Canaccord Genuity Group lowered their price objective on shares of Joby Aviation from $11.00 to $10.50 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its stake in Joby Aviation by 216.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after acquiring an additional 5,840 shares in the last quarter. Integris Wealth Management LLC purchased a new stake in shares of Joby Aviation in the 2nd quarter valued at about $54,000. Dakota Wealth Management purchased a new position in Joby Aviation during the 2nd quarter worth approximately $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in Joby Aviation during the second quarter worth approximately $57,000. Finally, Choreo LLC purchased a new stake in Joby Aviation in the second quarter valued at approximately $60,000. Hedge funds and other institutional investors own 45.54% 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.