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

Cantor Fitzgerald reaffirmed their overweight rating on shares of Joby Aviation (NYSE:JOBY) in a report published on Thursday,Benzinga reports. They currently have a $9.00 price target on the stock.

Several other research analysts also recently weighed in on JOBY. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price on shares of Joby Aviation in a research note on Thursday. JPMorgan Chase & Co. lowered their price objective on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Thursday. HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Thursday. Finally, Canaccord Genuity Group raised their target price on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $8.90.

Joby Aviation Stock Performance

Shares of JOBY opened at $6.77 on Thursday. Joby Aviation has a fifty-two week low of $4.50 and a fifty-two week high of $10.72. The firm has a 50-day simple moving average of $8.16 and a 200-day simple moving average of $6.71. The company has a market capitalization of $5.18 billion, a price-to-earnings ratio of -9.66 and a beta of 2.33.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, insider Kate Dehoff sold 6,903 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $7.43, for a total transaction of $51,289.29. Following the completion of the transaction, the insider now directly owns 202,276 shares in the company, valued at approximately $1,502,910.68. This trade represents a 3.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joeben Bevirt sold 10,785 shares of Joby Aviation stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $7.43, for a total transaction of $80,132.55. Following the transaction, the chief executive officer now owns 793,036 shares of the company’s stock, valued at approximately $5,892,257.48. The trade was a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,018,699 shares of company stock valued at $8,628,124. Corporate insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently made changes to their positions in the business. Whittier Trust Co. purchased a new stake in shares of Joby Aviation during the 4th quarter worth about $38,000. Allworth Financial LP grew its stake in Joby Aviation by 200.6% during the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock worth $44,000 after buying an additional 3,320 shares during the period. Compagnie Lombard Odier SCmA acquired a new stake in shares of Joby Aviation in the fourth quarter worth $41,000. Toronto Dominion Bank purchased a new position in shares of Joby Aviation in the 4th quarter valued at $41,000. Finally, Carolinas Wealth Consulting LLC acquired a new position in shares of Joby Aviation during the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 52.85% 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.