Joby Aviation (NYSE:JOBY) Given “Buy” Rating at HC Wainwright

Joby Aviation (NYSE:JOBY)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $9.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 60.57% from the company’s current price.

A number of other research firms have also commented on JOBY. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a report on Monday. 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 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.

Joby Aviation Stock Down 8.7 %

Joby Aviation stock opened at $5.61 on Wednesday. The business’s 50-day simple moving average is $5.22 and its 200 day simple moving average is $5.22. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of -7.38 and a beta of 1.97. Joby Aviation has a 12-month low of $4.50 and a 12-month high of $7.69.

Joby Aviation (NYSE:JOBY) last issued 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 business had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.28 million. During the same period last year, the business posted ($0.17) EPS. As a group, sell-side analysts expect that Joby Aviation will post -0.69 EPS for the current year.

Insider Activity

In other Joby Aviation news, insider Matthew Field sold 5,642 shares of Joby Aviation stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $5.19, for a total transaction of $29,281.98. Following the transaction, the insider now directly owns 294,238 shares in the company, valued at $1,527,095.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Didier Papadopoulos sold 6,025 shares of the stock in a transaction 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 sale, the insider now owns 47,474 shares of the company’s stock, valued at $253,036.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Matthew Field sold 5,642 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $5.19, for a total transaction of $29,281.98. Following the completion of the sale, the insider now directly owns 294,238 shares in the company, valued at $1,527,095.22. The disclosure for this sale can be found here. Insiders sold 481,976 shares of company stock valued at $2,424,045 in the last quarter. Company insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

Large investors have recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC boosted its position in shares of Joby Aviation by 1,018.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock worth $3,453,000 after buying an additional 616,579 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Joby Aviation by 215.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,682 shares of the company’s stock worth $1,965,000 after acquiring an additional 270,794 shares during the last quarter. Rhumbline Advisers boosted its position in Joby Aviation by 26.7% during the 2nd quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock worth $2,798,000 after acquiring an additional 115,483 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Joby Aviation by 9.1% in the first 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. Finally, Janney Montgomery Scott LLC lifted its position in shares of Joby Aviation by 84.3% in the first quarter. Janney Montgomery Scott LLC now owns 202,223 shares of the company’s stock worth $1,084,000 after purchasing an additional 92,508 shares in the last quarter. 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.