Joby Aviation (NYSE:JOBY) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Joby Aviation (NYSE:JOBY) in a research report sent to investors on Monday, Benzinga reports. They currently have a $10.00 price target on the stock.

Separately, JPMorgan Chase & Co. upgraded Joby Aviation from an underweight rating to a neutral rating and set a $5.00 price target on the stock in a report on Friday, May 3rd.

Joby Aviation Price Performance

Shares of Joby Aviation stock opened at $4.93 on Monday. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of -6.48 and a beta of 2.00. Joby Aviation has a 12 month low of $4.50 and a 12 month high of $11.98. The business has a 50-day moving average of $4.97 and a 200 day moving average of $5.56.

Joby Aviation (NYSE:JOBY) last released its earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the company earned ($0.16) earnings per share. Joby Aviation’s quarterly revenue was down 97.5% compared to the same quarter last year. Equities research analysts anticipate that Joby Aviation will post -0.69 earnings per share for the current year.

Insider Activity

In other news, CEO Joeben Bevirt sold 5,448 shares of the company’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $4.64, for a total transaction 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 approximately $3,074,487.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Joeben Bevirt sold 5,448 shares of the stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $4.64, for a total value of $25,278.72. Following the transaction, the chief executive officer now directly owns 662,605 shares of the company’s stock, valued at approximately $3,074,487.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Allison sold 19,393 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $4.70, for a total transaction of $91,147.10. Following the completion of the sale, the insider now directly owns 422,592 shares of the company’s stock, valued at $1,986,182.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 332,370 shares of company stock worth $1,697,002. 32.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Joby Aviation

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Joby Aviation by 20.6% in the third quarter. Vanguard Group Inc. now owns 34,130,744 shares of the company’s stock valued at $220,143,000 after buying an additional 5,819,837 shares during the last quarter. Baillie Gifford & Co. raised its stake in Joby Aviation by 10.3% during the 4th quarter. Baillie Gifford & Co. now owns 56,320,441 shares of the company’s stock valued at $374,531,000 after acquiring an additional 5,267,436 shares during the last quarter. New York State Common Retirement Fund lifted its position in Joby Aviation by 8.1% during the 4th quarter. New York State Common Retirement Fund now owns 114,331 shares of the company’s stock worth $760,000 after acquiring an additional 8,595 shares during the period. Schonfeld Strategic Advisors LLC grew its stake in shares of Joby Aviation by 596.5% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 160,200 shares of the company’s stock valued at $1,033,000 after purchasing an additional 137,200 shares during the last quarter. Finally, Rheos Capital Works Inc. increased its holdings in shares of Joby Aviation by 113.0% in the fourth quarter. Rheos Capital Works Inc. now owns 2,055,000 shares of the company’s stock valued at $13,666,000 after purchasing an additional 1,090,000 shares during the period. Hedge funds and other institutional investors own 45.54% of the company’s stock.

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.