Joby Aviation (NYSE:JOBY) Stock Rating Reaffirmed by Cantor Fitzgerald

Joby Aviation (NYSE:JOBY)‘s stock had its “overweight” rating reissued by stock analysts at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They presently have a $10.00 price target on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 94.36% from the stock’s current price.

A number of other research analysts have also recently commented on JOBY. JPMorgan Chase & Co. increased their target price on Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Canaccord Genuity Group reduced their price objective on Joby Aviation from $11.00 to $10.50 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, HC Wainwright started coverage on Joby Aviation in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $9.00 target price for the company.

Joby Aviation Stock Up 0.5 %

NYSE:JOBY opened at $5.15 on Monday. The stock has a market cap of $3.64 billion, a P/E ratio of -6.77 and a beta of 1.97. The business’s 50-day moving average price is $5.40 and its two-hundred day moving average price is $5.21. Joby Aviation has a twelve month low of $4.50 and a twelve month high of $7.69.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.18). The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.28 million. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. On average, equities research analysts expect that Joby Aviation will post -0.69 EPS for the current fiscal year.

Insider Activity

In related news, CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $4.86, for a total transaction of $1,215,000.00. Following the transaction, the chief executive officer now directly owns 32,724,274 shares in the company, valued at approximately $159,039,971.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $4.86, for a total transaction of $1,215,000.00. Following the completion of the sale, the chief executive officer now owns 32,724,274 shares of the company’s stock, valued at approximately $159,039,971.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Matthew Field sold 11,766 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $5.17, for a total transaction 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 354,615 shares of company stock valued at $1,762,283. 32.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC grew its position 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 worth $44,000 after buying an additional 5,840 shares during the last quarter. Integris Wealth Management LLC bought a new stake in Joby Aviation in the second quarter valued at $54,000. Dakota Wealth Management purchased a new position in Joby Aviation during the 2nd quarter valued at $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Joby Aviation in the 2nd quarter worth $57,000. Finally, Choreo LLC purchased a new stake in shares of Joby Aviation in the 2nd quarter worth about $60,000. Institutional investors own 45.54% of the company’s stock.

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.