Rodrigo Brumana Sells 78,489 Shares of Joby Aviation (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) CFO Rodrigo Brumana sold 78,489 shares of Joby Aviation stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $11.30, for a total transaction of $886,925.70. Following the completion of the transaction, the chief financial officer directly owned 81,694 shares of the company’s stock, valued at approximately $923,142.20. This represents a 49.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rodrigo Brumana also recently made the following trade(s):

• On Wednesday, April 8th, Rodrigo Brumana sold 566 shares of Joby Aviation stock. The shares were sold at an average price of $8.87, for a total transaction of $5,020.42.
• On Tuesday, March 10th, Rodrigo Brumana sold 1,159 shares of Joby Aviation stock. The shares were sold at an average price of $10.25, for a total transaction of $11,879.75.

Joby Aviation Stock Down 4.4%

JOBY stock opened at $9.28 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05. Joby Aviation, Inc. has a 1-year low of $7.75 and a 1-year high of $20.95. The firm has a fifty day moving average price of $9.74 and a two-hundred day moving average price of $11.43. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of -8.07 and a beta of 2.66.

Joby Aviation (NYSE:JOBY) last released its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.09. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. The firm had revenue of $24.25 million during the quarter, compared to analyst estimates of $20.17 million. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. Research analysts predict that Joby Aviation, Inc. will post -0.83 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on JOBY shares. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Joby Aviation in a research note on Wednesday, May 6th. JPMorgan Chase & Co. reduced their price target on shares of Joby Aviation from $8.00 to $7.00 and set an “underweight” rating for the company in a report on Thursday, February 26th. Wall Street Zen raised shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Canaccord Genuity Group reduced their price target on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a report on Thursday, May 7th. Finally, HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a report on Thursday, March 12th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Joby Aviation currently has a consensus rating of “Reduce” and a consensus price target of $13.06.

Hedge Funds Weigh In On Joby Aviation

Several hedge funds and other institutional investors have recently modified their holdings of JOBY. Fifth Third Bancorp boosted its holdings in shares of Joby Aviation by 207.4% during the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock valued at $26,000 after acquiring an additional 1,348 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Joby Aviation by 284.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after acquiring an additional 1,880 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Joby Aviation during the fourth quarter valued at $28,000. Strategic Advocates LLC acquired a new stake in Joby Aviation in the third quarter worth about $29,000. Finally, Pandora Wealth Inc. acquired a new stake in Joby Aviation in the fourth quarter worth about $32,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

About Joby Aviation

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.