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

Cantor Fitzgerald reaffirmed their overweight rating on shares of Joby Aviation (NYSE:JOBY) in a research report sent to investors on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $10.00 price objective on the stock.

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

Joby Aviation Stock Up 3.6 %

Shares of JOBY opened at $5.34 on Monday. Joby Aviation has a 52-week low of $4.50 and a 52-week high of $7.69. The stock has a 50 day moving average price of $5.52 and a 200 day moving average price of $5.23. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of -7.02 and a beta of 1.98.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, meeting analysts’ consensus estimates of ($0.18). The company had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.28 million. During the same period last year, the business earned ($0.17) earnings per share. On average, equities analysts anticipate 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 the 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 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 SEC, which can be accessed through this hyperlink. In other news, insider Kate Dehoff sold 5,815 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $6.76, for a total value of $39,309.40. Following the completion of the transaction, the insider now owns 199,413 shares of the company’s stock, valued at $1,348,031.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $4.86, for a total transaction of $1,215,000.00. Following the sale, the chief executive officer now owns 32,724,274 shares in the company, valued at approximately $159,039,971.64. The disclosure for this sale can be found here. Insiders sold a total of 326,032 shares of company stock valued at $1,613,336 over the last three months. 32.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently made changes to their positions in JOBY. 8VC GP I LLC purchased a new position in Joby Aviation during the fourth quarter worth about $95,727,000. Vanguard Group Inc. increased its stake in shares of Joby Aviation by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock valued at $185,776,000 after acquiring an additional 2,889,012 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Joby Aviation during the 1st quarter worth about $15,357,000. Ieq Capital LLC boosted its position in shares of Joby Aviation by 68.6% in the second quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after acquiring an additional 1,807,054 shares during the last quarter. Finally, Lingotto Investment Management LLP grew its holdings in Joby Aviation by 129.8% in the fourth quarter. Lingotto Investment Management LLP now owns 2,088,980 shares of the company’s stock valued at $13,892,000 after purchasing an additional 1,180,000 shares during the period. Hedge funds and other 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.