Joby Aviation (NYSE:JOBY) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Joby Aviation (NYSE:JOBY) issued its earnings results on Wednesday. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01), Briefing.com reports. The business had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. During the same quarter in the prior year, the company earned ($0.13) EPS.

Joby Aviation Price Performance

Shares of Joby Aviation stock traded up $0.03 on Thursday, hitting $5.10. 17,146,111 shares of the company’s stock traded hands, compared to its average volume of 7,056,128. The company has a fifty day moving average of $5.31 and a two-hundred day moving average of $5.30. Joby Aviation has a one year low of $4.50 and a one year high of $7.69. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of -10.43 and a beta of 1.97.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Joby Aviation news, insider Didier Papadopoulos sold 6,025 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $5.33, for a total transaction of $32,113.25. Following the transaction, the insider now directly owns 47,474 shares in the company, valued at approximately $253,036.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Didier Papadopoulos sold 6,025 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $5.33, for a total transaction of $32,113.25. Following the transaction, the insider now owns 47,474 shares in the company, valued at approximately $253,036.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gregory Bowles sold 26,775 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $5.14, for a total value of $137,623.50. Following the completion of the sale, the insider now owns 18,035 shares of the company’s stock, valued at approximately $92,699.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 525,499 shares of company stock worth $2,667,151. 32.40% of the stock is owned by corporate insiders.

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.