Joby Aviation (NYSE:JOBY) Announces Earnings Results, Beats Estimates By $0.03 EPS

Joby Aviation (NYSE:JOBY) announced its earnings results on Tuesday. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03, Briefing.com reports. The company had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.05 million. During the same period in the prior year, the business posted ($0.16) earnings per share. Joby Aviation’s revenue for the quarter was down 97.5% compared to the same quarter last year.

Joby Aviation Price Performance

Shares of Joby Aviation stock traded down $0.05 during trading on Friday, reaching $5.14. 1,323,565 shares of the stock traded hands, compared to its average volume of 4,853,984. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of -6.41 and a beta of 2.04. Joby Aviation has a 52-week low of $4.50 and a 52-week high of $11.98. The business has a fifty day simple moving average of $5.10 and a two-hundred day simple moving average of $5.70.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upgraded Joby Aviation from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Joby Aviation presently has a consensus rating of “Moderate Buy” and an average target price of $7.67.

Insider Buying and Selling

In other news, CEO Joeben Bevirt sold 5,448 shares of Joby Aviation stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $4.64, for a total transaction of $25,278.72. Following the completion of the sale, the chief executive officer now owns 662,605 shares of the company’s stock, valued at $3,074,487.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Eric Allison sold 19,393 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $4.70, for a total transaction of $91,147.10. Following the transaction, the insider now owns 422,592 shares of the company’s stock, valued at approximately $1,986,182.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Joeben Bevirt sold 5,448 shares of the stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $4.64, for a total value of $25,278.72. Following the completion of the sale, the chief executive officer now directly owns 662,605 shares in the company, valued at approximately $3,074,487.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 553,419 shares of company stock worth $2,836,610. Corporate insiders own 49.50% of the company’s stock.

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.