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

Cantor Fitzgerald restated their overweight rating on shares of Joby Aviation (NYSE:JOBY) in a research report report published on Thursday, Benzinga reports. They currently have a $10.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity Group decreased their price target on Joby Aviation from $11.00 to $10.50 and set a buy rating for the company in a research note on Thursday. JPMorgan Chase & Co. increased their price target on Joby Aviation from $5.00 to $6.00 and gave the stock a neutral rating in a report on Wednesday, July 24th.

Joby Aviation Price Performance

JOBY traded down $0.18 during trading on Thursday, hitting $5.02. The stock had a trading volume of 6,163,798 shares, compared to its average volume of 5,633,107. The company has a 50 day moving average price of $5.49 and a 200-day moving average price of $5.37. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of -6.61 and a beta of 2.00. Joby Aviation has a one year low of $4.50 and a one year high of $8.23.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, hitting analysts’ consensus estimates of ($0.18). The business had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.28 million. During the same period last year, the firm posted ($0.17) EPS. As a group, sell-side analysts predict that Joby Aviation will post -0.69 EPS for the current fiscal year.

Insider Transactions at Joby Aviation

In related news, insider Kate Dehoff sold 5,815 shares of Joby Aviation stock in a transaction on Monday, July 15th. The stock was sold at an average price of $6.76, for a total transaction of $39,309.40. Following the completion of the sale, the insider now owns 199,413 shares of the company’s stock, valued at $1,348,031.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Kate Dehoff sold 5,815 shares of Joby Aviation stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $6.76, for a total value of $39,309.40. Following the transaction, the insider now 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 can be accessed through this link. Also, insider Matthew Field sold 5,642 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $5.19, for a total value of $29,281.98. Following the transaction, the insider now owns 294,238 shares in the company, valued at approximately $1,527,095.22. The disclosure for this sale can be found here. Insiders sold 343,395 shares of company stock valued at $1,699,082 over the last three months. Company insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position 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 worth $185,776,000 after acquiring an additional 2,889,012 shares in the last quarter. 8VC GP I LLC bought a new position in shares of Joby Aviation in the 4th quarter worth approximately $95,727,000. Charles Schwab Investment Management Inc. grew its stake 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 worth $25,394,000 after buying an additional 64,404 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Joby Aviation in the 1st quarter worth approximately $15,357,000. Finally, Lingotto Investment Management LLP grew its stake in shares of Joby Aviation by 129.8% in the 4th quarter. Lingotto Investment Management LLP now owns 2,088,980 shares of the company’s stock worth $13,892,000 after buying an additional 1,180,000 shares during the last quarter. Hedge funds and other 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.