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Gregory Bowles, Head of Government & Regulatory Affairs at Joby Aviation , Inc. (NYSE:JOBY), recently filed a Form 4 with the Securities and Exchange Commission, disclosing the sale of company shares. On February 11, Bowles sold 987 shares of Joby Aviation common stock at an average price of $7.50, totaling $7,402. This transaction was executed in multiple trades, with prices ranging from $7.50 to $7.62. The sale was conducted to cover taxes due upon the release and settlement of restricted stock units (RSUs). With the company’s earnings report due on February 19, investors seeking deeper insights can access comprehensive analysis through InvestingPro’s detailed research reports, which indicate the stock is currently trading near its Fair Value.
In addition to the sale, Bowles acquired 2,722 shares of common stock on February 10 through the vesting of RSUs, a transaction that did not involve any cash exchange. Following these transactions, Bowles retains direct ownership of 30,970 shares of Joby Aviation. The company maintains strong liquidity with a current ratio of 16.12 and holds more cash than debt on its balance sheet, though analysts do not anticipate profitability this year.
In other recent news, Joby Aviation, a notable player in the aircraft manufacturing industry, has made significant amendments to its bylaws and voting rights. The company has also been positively reviewed by several analysts, with Needham & Company raising its price target from $8.00 to $10.00, Canaccord Genuity increasing its target to $11.50, and H.C. Wainwright maintaining a $9.00 price target. These upgrades reflect Joby Aviation’s strong market presence and financial position, as well as its anticipated regulatory approval by the Federal Aviation Administration (FAA).
In addition to these developments, Joby Aviation has successfully concluded a maintenance training program with members of the U.S. Air Force, as part of its contract with AFWERX Agility Prime. This highlights the company’s commitment to technical knowledge and practical experience in aircraft maintenance.
These recent developments underline Joby Aviation’s continuous efforts towards aligning its corporate governance with regulatory compliance and modern best practices, as well as its potential to become a leading player in the emerging electric vertical take-off and landing (eVTOL) industry.
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