Sergey Novikov, Insider at Joby Aviation, Sells 1,835 Shares

On January 2, 2025, Sergey Novikov, an insider at Joby Aviation, Inc. (NYSE: JOBY), sold 1,835 shares of the company's stock. The transaction took place at an average price of $8.08 per share, resulting in a total sale value of $14,826.80. Following this sale, Novikov now holds 45,434 shares of Joby Aviation, valued at approximately $367,106.72. This sale represents a decrease of 3.88% in their holdings.

Joby Aviation's Stock Performance

As of the latest trading session on January 5, 2025, Joby Aviation's stock opened at $9.77. The company boasts a market capitalization of $7.47 billion, a negative price-to-earnings (P/E) ratio of -13.96, and a beta of 2.32. Over the past year, the stock has experienced a low of $4.50 and a high of $9.82. Joby Aviation's 50-day and 200-day simple moving averages stand at $7.18 and $6.04, respectively.

Recent Earnings Report

Joby Aviation announced its earnings results on November 6, 2024, reporting a loss of $0.21 earnings per share (EPS) for the quarter. This missed the consensus estimate of a loss of $0.19 by $0.02. The company generated revenue of $0.28 million, which exceeded analyst expectations of $0.06 million. Joby recorded a staggering negative net margin of 42,844.57% and a negative return on equity of 51.76%. Compared to the same quarter last year, the firm had an EPS loss of $0.13. Analysts project that Joby Aviation will report an EPS of -0.69 for the current fiscal year.

Institutional Investor Activity

Recent activity among hedge funds has seen several buy and sell transactions involving Joby Aviation's shares. Everence Capital Management Inc. acquired a new position valued at around $142,000 in the fourth quarter. Tidal Investments LLC increased its stake by 13.7% in the third quarter, now holding 29,246 shares valued at $147,000. Other firms such as Geode Capital Management LLC, Kensington Investment Counsel LLC, and EP Wealth Advisors LLC have also adjusted their positions in Joby Aviation. Overall, 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts' Price Targets

Equity research analysts have provided their assessments of Joby Aviation's stock. HC Wainwright maintained a “buy” rating with a target price of $9.00. Cantor Fitzgerald set a target price of $10.00, maintaining an “overweight” rating. Conversely, JPMorgan Chase & Co. lowered its price target from $6.00 to $5.00 while maintaining a “neutral” rating. Canaccord Genuity Group also reduced its price objective to $9.75. Meanwhile, Needham & Company initiated coverage on Joby with a “buy” rating at a target price of $8.00. Overall, the stock has received one hold rating and four buy ratings, with an average target price of $8.35, according to MarketBeat.

About Joby Aviation

Joby Aviation, Inc. is a vertically integrated air mobility company focused on the development of electric vertical takeoff and landing (eVTOL) aircraft. The company aims to provide air transportation services and is working on creating an app-based platform for aerial ridesharing.

Joby, Aviation, Shares