Joby Aviation (NYSE:JOBY) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Joby Aviation (NYSE:JOBY) in a report released on Tuesday morning, Benzinga reports. They currently have a $10.00 price objective on the stock.

Other research analysts have also recently issued reports about the company. Canaccord Genuity Group lowered 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. JPMorgan Chase & Co. boosted 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. Finally, HC Wainwright began coverage on Joby Aviation in a research note on Tuesday. They set a buy rating and a $9.00 target price for the company.

Joby Aviation Trading Down 1.1 %

Shares of NYSE JOBY opened at $4.78 on Tuesday. Joby Aviation has a twelve month low of $4.50 and a twelve month high of $7.69. The stock has a fifty day simple moving average of $5.51 and a 200-day simple moving average of $5.24. The stock has a market capitalization of $3.38 billion, a PE ratio of -6.28 and a beta of 1.97.

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

Insider Transactions at Joby Aviation

In other news, insider Didier Papadopoulos sold 7,262 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $5.15, for a total transaction of $37,399.30. Following the completion of the transaction, the insider now directly owns 65,561 shares of the company’s stock, valued at approximately $337,639.15. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Didier Papadopoulos sold 7,262 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $5.15, for a total transaction of $37,399.30. Following the completion of the transaction, the insider now directly owns 65,561 shares of the company’s stock, valued at approximately $337,639.15. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Joeben Bevirt sold 250,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $4.86, for a total value of $1,215,000.00. Following the completion of the sale, the chief executive officer now directly owns 32,724,274 shares of the company’s stock, valued at $159,039,971.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 326,032 shares of company stock valued at $1,613,336. 32.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Joby Aviation

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Joby Aviation by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock valued at $185,776,000 after purchasing an additional 2,889,012 shares during the last quarter. 8VC GP I LLC purchased a new stake in shares of Joby Aviation in the 4th quarter valued at about $95,727,000. Ieq Capital LLC lifted its holdings in shares of Joby Aviation by 68.6% in the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock valued at $22,652,000 after purchasing an additional 1,807,054 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Joby Aviation by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,818,603 shares of the company’s stock valued at $25,394,000 after purchasing an additional 64,404 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Joby Aviation during the 1st quarter valued at approximately $15,357,000. 45.54% of the stock is 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.