Joby Aviation’s (JOBY) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Joby Aviation (NYSE:JOBY) in a report published on Monday, Benzinga reports. Cantor Fitzgerald currently has a $10.00 target price on the stock.

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

Joby Aviation Price Performance

Shares of Joby Aviation stock opened at $5.06 on Monday. The stock has a market capitalization of $3.62 billion, a P/E ratio of -6.66 and a beta of 1.97. The business has a 50 day simple moving average of $5.36 and a two-hundred day simple moving average of $5.21. Joby Aviation has a 12 month low of $4.50 and a 12 month high of $7.69.

Joby Aviation (NYSE:JOBY) last announced 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 analysts’ expectations of $0.28 million. During the same quarter in the previous year, the business posted ($0.17) EPS. As a group, research analysts anticipate that Joby Aviation will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Gregory Bowles sold 26,775 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $5.14, for a total transaction of $137,623.50. Following the completion of the transaction, the insider now directly owns 18,035 shares in the company, valued at approximately $92,699.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Gregory Bowles sold 26,775 shares of Joby Aviation stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $5.14, for a total value of $137,623.50. Following the completion of the sale, the insider now owns 18,035 shares in the company, valued at approximately $92,699.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Didier Papadopoulos sold 23,188 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $4.86, for a total value of $112,693.68. Following the completion of the sale, the insider now directly owns 54,666 shares in the company, valued at approximately $265,676.76. The disclosure for this sale can be found here. Insiders sold a total of 354,615 shares of company stock valued at $1,762,283 over the last quarter. 32.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors have recently bought and sold shares of JOBY. Nisa Investment Advisors LLC grew its holdings in shares of Joby Aviation by 216.3% in the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after purchasing an additional 5,840 shares in the last quarter. Integris Wealth Management LLC purchased a new position in Joby Aviation in the 2nd quarter valued at approximately $54,000. Dakota Wealth Management purchased a new stake in shares of Joby Aviation during the second quarter worth $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Joby Aviation in the second quarter valued at $57,000. Finally, Choreo LLC purchased a new position in Joby Aviation in the second quarter valued at $60,000. 45.54% of the stock is owned by institutional investors and hedge funds.

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.