Joby Aviation’s (JOBY) “Buy” Rating Reiterated at Needham & Company LLC

Joby Aviation (NYSE:JOBY)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $10.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 50.04% from the company’s previous close.

JOBY has been the subject of a number of other reports. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, December 18th. JPMorgan Chase & Co. downgraded Joby Aviation from a “neutral” rating to an “underweight” rating and boosted their price target for the company from $5.00 to $6.00 in a research note on Friday, January 10th. Finally, Canaccord Genuity Group boosted their price target on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Joby Aviation has an average rating of “Moderate Buy” and a consensus price target of $9.10.

Joby Aviation Price Performance

JOBY stock opened at $6.67 on Thursday. The company has a fifty day moving average price of $8.17 and a two-hundred day moving average price of $6.71. Joby Aviation has a one year low of $4.50 and a one year high of $10.72. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of -9.52 and a beta of 2.33.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Didier Papadopoulos sold 6,005 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $7.65, for a total transaction of $45,938.25. Following the transaction, the insider now directly owns 54,776 shares in the company, valued at approximately $419,036.40. This represents a 9.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kate Dehoff sold 6,903 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $7.43, for a total value of $51,289.29. Following the transaction, the insider now owns 202,276 shares in the company, valued at $1,502,910.68. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,018,699 shares of company stock worth $8,628,124 over the last ninety days. Insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

A number of institutional investors have recently modified their holdings of the company. Bouvel Investment Partners LLC raised its position in shares of Joby Aviation by 1.4% during the fourth quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company’s stock worth $1,007,000 after purchasing an additional 1,715 shares during the period. NewEdge Advisors LLC raised its position in shares of Joby Aviation by 9.9% during the fourth quarter. NewEdge Advisors LLC now owns 21,505 shares of the company’s stock worth $175,000 after purchasing an additional 1,935 shares during the period. Gallagher Fiduciary Advisors LLC raised its position in shares of Joby Aviation by 3.1% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 66,800 shares of the company’s stock worth $543,000 after purchasing an additional 2,000 shares during the period. Private Advisor Group LLC raised its position in shares of Joby Aviation by 6.6% during the fourth quarter. Private Advisor Group LLC now owns 36,774 shares of the company’s stock worth $299,000 after purchasing an additional 2,261 shares during the period. Finally, Larson Financial Group LLC raised its position in shares of Joby Aviation by 35.3% during the fourth quarter. Larson Financial Group LLC now owns 9,864 shares of the company’s stock worth $80,000 after purchasing an additional 2,574 shares during the period. 52.85% of the stock is owned by institutional investors and hedge funds.

Joby Aviation Company Profile

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.