Cantor Fitzgerald Reaffirms Overweight Rating for Joby Aviation (NYSE:JOBY)

Joby Aviation (NYSE:JOBY)‘s stock had its “overweight” rating reiterated by analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They currently have a $10.00 price objective on the stock. Cantor Fitzgerald’s target price points to a potential upside of 101.61% from the stock’s previous close.

Separately, JPMorgan Chase & Co. raised Joby Aviation from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a report on Friday, May 3rd.

Joby Aviation Price Performance

JOBY opened at $4.96 on Monday. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of -6.53 and a beta of 2.00. Joby Aviation has a 1 year low of $4.50 and a 1 year high of $11.30. The firm’s fifty day moving average price is $5.04 and its two-hundred day moving average price is $5.44.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.03. The company had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.05 million. The business’s revenue was down 97.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.16) EPS. As a group, equities analysts anticipate that Joby Aviation will post -0.69 EPS for the current year.

Insider Buying and Selling

In related news, insider Matthew Field sold 13,953 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $4.96, for a total transaction of $69,206.88. Following the completion of the sale, the insider now directly owns 269,196 shares in the company, valued at approximately $1,335,212.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Eric Allison sold 19,393 shares of Joby Aviation stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $4.70, for a total transaction of $91,147.10. Following the sale, the insider now directly owns 422,592 shares in the company, valued at $1,986,182.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Matthew Field sold 13,953 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $4.96, for a total value of $69,206.88. Following the completion of the transaction, the insider now owns 269,196 shares of the company’s stock, valued at approximately $1,335,212.16. The disclosure for this sale can be found here. Insiders sold 51,475 shares of company stock worth $248,636 in the last quarter. 32.40% of the stock is owned by insiders.

Institutional Trading of Joby Aviation

A number of hedge funds have recently modified their holdings of JOBY. Baillie Gifford & Co. boosted its holdings in Joby Aviation by 10.3% in the fourth quarter. Baillie Gifford & Co. now owns 56,320,441 shares of the company’s stock worth $374,531,000 after acquiring an additional 5,267,436 shares in the last quarter. Vanguard Group Inc. grew its position in 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 purchasing an additional 2,889,012 shares during the last quarter. 8VC GP I LLC bought a new position in shares of Joby Aviation in the fourth quarter worth approximately $95,727,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Joby Aviation by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,818,603 shares of the company’s stock valued at $25,394,000 after buying an additional 64,404 shares during the last quarter. Finally, ARK Investment Management LLC raised its holdings in Joby Aviation by 7.2% in the 4th quarter. ARK Investment Management LLC now owns 3,404,900 shares of the company’s stock worth $22,643,000 after acquiring an additional 227,331 shares during the last quarter. 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.