Joby Aviation (NYSE:JOBY) Rating Reiterated by Cantor Fitzgerald

Joby Aviation (NYSE:JOBY)‘s stock had its “overweight” rating reiterated by research analysts at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They currently have a $10.00 price objective on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 108.12% from the company’s previous close.

Several other brokerages also recently weighed in on JOBY. HC Wainwright began coverage on Joby Aviation in a research note on Tuesday, September 3rd. They set a “buy” rating and a $9.00 target price for the company. Canaccord Genuity Group reduced their target price on Joby Aviation from $11.00 to $10.50 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their target price on Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th.

Joby Aviation Price Performance

JOBY stock opened at $4.81 on Monday. Joby Aviation has a 52-week low of $4.50 and a 52-week high of $7.69. The company’s 50-day simple moving average is $5.27 and its 200-day simple moving average is $5.21.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, meeting analysts’ consensus estimates of ($0.18). The business had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.28 million. During the same quarter last year, the firm earned ($0.17) earnings per share. On average, sell-side analysts forecast that Joby Aviation will post -0.69 EPS for the current year.

Insider Buying and Selling

In related news, insider Didier Papadopoulos sold 6,025 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $5.33, for a total transaction of $32,113.25. Following the completion of the sale, the insider now directly owns 47,474 shares in the company, valued at $253,036.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Joby Aviation news, insider Matthew Field sold 11,766 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $5.17, for a total value of $60,830.22. Following the completion of the sale, the insider now directly owns 299,880 shares in the company, valued at approximately $1,550,379.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Didier Papadopoulos sold 6,025 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $5.33, for a total value of $32,113.25. Following the completion of the sale, the insider now owns 47,474 shares of the company’s stock, valued at $253,036.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,165 shares of company stock worth $397,190. 32.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC grew its stake in shares of Joby Aviation by 216.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after purchasing an additional 5,840 shares during the last quarter. Integris Wealth Management LLC purchased a new stake in shares of Joby Aviation in the second quarter valued at $54,000. Dakota Wealth Management purchased a new stake in shares of Joby Aviation in the second quarter valued at $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Joby Aviation during the second quarter valued at about $57,000. Finally, Choreo LLC purchased a new stake in Joby Aviation during the second quarter valued at about $60,000. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

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.