Joby Aviation (NYSE:JOBY) Insider Sells $30,645.56 in Stock

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 5,302 shares of the business’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $5.78, for a total transaction of $30,645.56. Following the transaction, the insider directly owned 193,704 shares of the company’s stock, valued at approximately $1,119,609.12. This trade represents a 2.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Gregory Bowles also recently made the following trade(s):

• On Friday, October 2nd, Gregory Bowles sold 7,663 shares of Joby Aviation stock. The stock was sold at an average price of $5.95, for a total transaction of $45,594.85.
• On Monday, September 21st, Gregory Bowles sold 6,138 shares of Joby Aviation stock. The stock was sold at an average price of $6.35, for a total transaction of $38,976.30.
• On Tuesday, August 25th, Gregory Bowles sold 4,575 shares of Joby Aviation stock. The shares were sold at an average price of $7.23, for a total transaction of $33,077.25.
• On Monday, August 24th, Gregory Bowles sold 3,531 shares of Joby Aviation stock. The shares were sold at an average price of $7.34, for a total transaction of $25,917.54.

Joby Aviation Price Performance

NYSE JOBY opened at $5.76 on Friday. Joby Aviation, Inc. has a 52 week low of $5.58 and a 52 week high of $18.77. The company has a current ratio of 17.98, a quick ratio of 17.98 and a debt-to-equity ratio of 0.40. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of -5.82 and a beta of 2.66. The company has a 50-day moving average price of $6.90 and a two-hundred day moving average price of $8.35.

Joby Aviation (NYSE:JOBY) last released its quarterly 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). The business had revenue of $38.64 million for the quarter, compared to the consensus estimate of $30.20 million. Joby Aviation had a negative net margin of 755.11% and a negative return on equity of 55.29%. The business’s quarterly revenue was up 257493.3% on a year-over-year basis. During the same period last year, the firm posted ($0.41) EPS. Analysts forecast that Joby Aviation, Inc. will post -1 EPS for the current year.

Key Headlines Impacting Joby Aviation

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

• Positive Sentiment: ARK Invest, led by Cathie Wood, continued investing in electric vertical takeoff and landing (eVTOL) companies including Joby, providing a vote of confidence in the long-term flying-taxi opportunity. Cathie Wood Bets Big on Flying Taxis
• Positive Sentiment: BitRipple said its LT3 connectivity system has been deployed across Joby’s flight operations, enabling satellite and cellular connectivity for flight-critical telemetry and monitoring. The technology supports testing and operational readiness, although it does not yet represent commercial aircraft revenue. BitRipple LT3 Deployed Across Joby Flight Operations
• Neutral Sentiment: One investment thesis identifies JOBY as a speculative value opportunity after its steep decline, citing its aircraft technology, U.S. Air Force deliveries and potential interest from defense or electric-vehicle companies. However, Joby still lacks FAA approval and commercial passenger flights, with U.S. service likely still one to two years away. Only 20 Stocks Are Holding Up the Market
• Negative Sentiment: The trade-secrets verdict is the most immediate catalyst. Aerosonic alleged that Joby breached a confidentiality agreement and misused trade secrets involving air-pressure sensor probes; the jury rejected Joby’s counterarguments. The potential cash outflow could reduce its runway and add intellectual-property and execution risk. Joby Aviation to Pay $116.9 Million in Trade Secrets Case
• Negative Sentiment: Another recent analysis argues that JOBY remains overvalued despite its 67% decline because the company continues to generate losses, burn cash and lacks an approved commercial product. Multiple insider sales, including transactions by senior executives, add to cautious sentiment, although several sales were made under prearranged Rule 10b5-1 plans. Joby Aviation Stock Looks Overvalued

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Green Alpha Advisors LLC grew its holdings in Joby Aviation by 60.3% during the third quarter. Green Alpha Advisors LLC now owns 66,654 shares of the company’s stock worth $403,000 after acquiring an additional 25,086 shares during the period. Farther Finance Advisors LLC lifted its holdings in Joby Aviation by 60.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 36,572 shares of the company’s stock valued at $221,000 after acquiring an additional 13,816 shares during the last quarter. QRG Capital Management Inc. boosted its position in shares of Joby Aviation by 116.4% during the 2nd quarter. QRG Capital Management Inc. now owns 33,868 shares of the company’s stock valued at $302,000 after purchasing an additional 18,219 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Joby Aviation by 22.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 385,572 shares of the company’s stock worth $3,439,000 after purchasing an additional 70,772 shares during the last quarter. Finally, Integrated Wealth Concepts LLC grew its stake in shares of Joby Aviation by 46.6% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 57,994 shares of the company’s stock worth $517,000 after purchasing an additional 18,427 shares during the last quarter. Institutional investors own 52.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on JOBY. Weiss Ratings raised Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Susquehanna set a $18.00 price objective on shares of Joby Aviation in a research note on Thursday, August 6th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Joby Aviation in a report on Monday, September 21st. Barclays upgraded shares of Joby Aviation to a “hold” rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen cut shares of Joby Aviation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Joby Aviation has an average rating of “Reduce” and a consensus price target of $13.81.

About Joby Aviation

Joby Aviation, Inc (NYSE: JOBY) is an aviation 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 providing quieter, lower-emission transportation for short urban and regional trips.

The company is pursuing an integrated air-taxi business model that includes designing and manufacturing its aircraft, operating passenger services, and developing the software and infrastructure needed to support aerial mobility.