Joby Aviation’s (JOBY) Overweight Rating Reaffirmed at Cantor Fitzgerald

Joby Aviation (NYSE:JOBY)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $10.00 price target on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 93.80% from the stock’s previous close.

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

Joby Aviation Price Performance

JOBY stock remained flat at $5.16 during trading hours on Monday. 965,306 shares of the company’s stock were exchanged, compared to its average volume of 5,500,378. The company has a market capitalization of $3.66 billion, a PE ratio of -6.84 and a beta of 1.97. The company’s fifty day moving average is $5.48 and its 200-day moving average is $5.22. Joby Aviation has a 12-month low of $4.50 and a 12-month high of $7.69.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, hitting analysts’ consensus estimates 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 period last year, the firm earned ($0.17) earnings per share. As a group, sell-side analysts predict that Joby Aviation will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In other news, insider Kate Dehoff sold 5,815 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $6.76, for a total transaction of $39,309.40. Following the completion of the transaction, the insider now directly owns 199,413 shares in the company, valued at $1,348,031.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Kate Dehoff sold 5,815 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $6.76, for a total transaction of $39,309.40. Following the sale, the insider now directly owns 199,413 shares in the company, valued at $1,348,031.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Didier Papadopoulos sold 6,025 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $5.33, for a total transaction of $32,113.25. Following the completion of the transaction, the insider now owns 47,474 shares of the company’s stock, valued at approximately $253,036.42. The disclosure for this sale can be found here. Insiders have sold a total of 327,840 shares of company stock worth $1,624,660 over the last 90 days. Insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Joby Aviation by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after buying an additional 2,889,012 shares in the last quarter. Ieq Capital LLC grew its holdings in Joby Aviation by 68.6% in the second quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after purchasing an additional 1,807,054 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Joby Aviation in the first quarter valued at $15,357,000. Lingotto Investment Management LLP raised its holdings in shares of Joby Aviation by 129.8% during the fourth quarter. Lingotto Investment Management LLP now owns 2,088,980 shares of the company’s stock valued at $13,892,000 after purchasing an additional 1,180,000 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Joby Aviation by 41.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock worth $7,521,000 after purchasing an additional 435,069 shares in the last quarter. 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.