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Gregory Bowles, Head of Government & Regulatory Affairs at Joby Aviation (NYSE:JOBY), recently reported stock transactions that included significant sales. On April 8, Bowles sold 832 shares of Joby Aviation common stock at an average price of $5.79 per share, totaling $4,817. The following day, on April 9, he sold an additional 9,848 shares at an average price of $5.76 per share, amounting to $56,724. These sales were part of Bowles' approved 10b5-1 trading plan. After these transactions, Bowles holds 153,280 shares directly. With analyst targets ranging from $4 to $11.50 and the stock showing high volatility with a beta of 2.35, investors seeking deeper insights can access comprehensive insider trading analysis through InvestingPro's exclusive research reports.
In other recent news, Joby Aviation reported a net loss of $246 million for Q4 2024, with earnings per share (EPS) of -0.34, missing the forecasted EPS of -0.19. Despite the earnings miss, the company highlighted significant advancements in product development and strategic partnerships. Joby Aviation has recently delivered its second aircraft to the Department of Defense's Edwards Air Force Base, expanding its operational fleet to five aircraft. The company also plans to deliver an aircraft to Dubai by mid-2025, aiming to begin carrying passengers in the second half of 2025 or the first half of 2026. Cantor Fitzgerald has maintained an Overweight rating on Joby Aviation, with a price target of $9.00, citing the company's strong position in the eVTOL industry. The analyst noted Joby Aviation's strategic partnerships with Delta Air Lines (NYSE:DAL), Toyota (NYSE:TM), and Uber (NYSE:UBER) as pivotal for its commercialization efforts. Joby Aviation is expected to start FAA TIA flight testing within the next 12 months, a critical step towards obtaining FAA Type Certification. The company ended the year with $933 million in cash and short-term investments, bolstered by $350 million in net proceeds from equity offerings in October and December.
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