Joby Aviation (JOBY) Expected to Announce Quarterly Earnings on Wednesday

Joby Aviation (NYSE:JOBY) will likely be announcing its earnings results before the market opens on Wednesday, February 19th. Analysts expect the company to announce earnings of ($0.19) per share and revenue of $0.05 million for the quarter.

Joby Aviation Stock Down 5.7 %

NYSE JOBY opened at $7.38 on Wednesday. The company has a market cap of $5.65 billion, a PE ratio of -10.55 and a beta of 2.33. The firm’s 50-day simple moving average is $8.36 and its two-hundred day simple moving average is $6.56. Joby Aviation has a 52 week low of $4.50 and a 52 week high of $10.72.

Insider Buying and Selling at Joby Aviation

In other news, Director Paul Cahill Sciarra sold 333,332 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $8.00, for a total value of $2,666,656.00. Following the transaction, the director now owns 58,994,729 shares in the company, valued at approximately $471,957,832. This trade represents a 0.56 % 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 hyperlink. Also, insider Gregory Bowles sold 7,748 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $8.08, for a total transaction of $62,603.84. Following the sale, the insider now owns 29,235 shares of the company’s stock, valued at $236,218.80. This represents a 20.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,005,672 shares of company stock worth $8,537,389 over the last three months. Company insiders own 32.40% of the company’s stock.

Analysts Set New Price Targets

JOBY has been the subject of several analyst reports. Canaccord Genuity Group raised their price objective on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a report on Wednesday, January 8th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Wednesday, December 18th. Needham & Company LLC boosted their price objective on Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. downgraded Joby Aviation from a “neutral” rating to an “underweight” rating and raised their target price for the stock from $5.00 to $6.00 in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Joby Aviation has a consensus rating of “Moderate Buy” and an average price target of $9.30.

About Joby Aviation

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.