Cantor Fitzgerald reaffirmed their overweight rating on shares of Joby Aviation (NYSE:JOBY – Free Report) in a report released on Monday morning, Benzinga reports. The firm currently has a $10.00 price objective on the stock.
Separately, JPMorgan Chase & Co. raised shares of Joby Aviation from an underweight rating to a neutral rating and set a $5.00 price objective for the company in a research report on Friday, May 3rd.
Check Out Our Latest Stock Report on Joby Aviation
Joby Aviation Trading Up 3.8 %
Joby Aviation (NYSE:JOBY – Get Free Report) last announced its earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.03. The business had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.05 million. During the same period in the previous year, the company earned ($0.16) earnings per share. The company’s quarterly revenue was down 97.5% compared to the same quarter last year. On average, equities research analysts forecast that Joby Aviation will post -0.69 EPS for the current year.
Insider Buying and Selling at Joby Aviation
In other news, insider Didier Papadopoulos sold 7,262 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $5.15, for a total transaction of $37,399.30. Following the completion of the transaction, the insider now directly owns 65,561 shares of the company’s stock, valued at $337,639.15. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Joeben Bevirt sold 5,448 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $4.64, for a total value of $25,278.72. Following the completion of the transaction, the chief executive officer now directly owns 662,605 shares of the company’s stock, valued at $3,074,487.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Didier Papadopoulos sold 7,262 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $5.15, for a total value of $37,399.30. Following the completion of the transaction, the insider now directly owns 65,561 shares of the company’s stock, valued at $337,639.15. The disclosure for this sale can be found here. Insiders sold a total of 331,925 shares of company stock valued at $1,613,729 in the last three months. 32.40% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Joby Aviation
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Monterey Private Wealth Inc. purchased a new stake in Joby Aviation in the fourth quarter valued at approximately $67,000. International Assets Investment Management LLC purchased a new stake in Joby Aviation in the fourth quarter valued at approximately $73,000. Teza Capital Management LLC purchased a new stake in Joby Aviation in the third quarter valued at approximately $76,000. Private Advisor Group LLC purchased a new stake in Joby Aviation in the fourth quarter valued at approximately $77,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Joby Aviation in the fourth quarter valued at approximately $86,000. 45.54% of the stock is owned by institutional investors and hedge funds.
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.
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