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

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

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

Joby Aviation Stock Performance

NYSE JOBY opened at $5.61 on Monday. The stock has a market cap of $3.97 billion, a P/E ratio of -7.38 and a beta of 1.97. Joby Aviation has a fifty-two week low of $4.50 and a fifty-two week high of $7.69. The stock has a 50 day simple moving average of $5.22 and a two-hundred day simple moving average of $5.22.

Joby Aviation (NYSE:JOBY) last announced 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 during the quarter, compared to analysts’ expectations of $0.28 million. During the same period in the previous year, the business earned ($0.17) EPS. Sell-side analysts predict that Joby Aviation will post -0.69 earnings per share for the current year.

Insider Transactions at Joby Aviation

In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the completion of the sale, the chief executive officer now directly owns 32,674,274 shares in the company, valued at approximately $158,470,228.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the sale, the chief executive officer now directly owns 32,674,274 shares in the company, valued at approximately $158,470,228.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Didier Papadopoulos sold 6,025 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $5.33, for a total value of $32,113.25. Following the completion of the transaction, the insider now owns 47,474 shares of the company’s stock, valued at approximately $253,036.42. The disclosure for this sale can be found here. Insiders sold a total of 481,976 shares of company stock valued at $2,424,045 in the last quarter. 32.40% of the stock is owned by insiders.

Institutional Trading of Joby Aviation

A number of institutional investors have recently made changes to their positions in 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 worth $44,000 after acquiring an additional 5,840 shares during the period. Integris Wealth Management LLC bought a new stake in shares of Joby Aviation during the 2nd quarter valued at about $54,000. Dakota Wealth Management purchased a new stake in shares of Joby Aviation during the 2nd quarter valued at about $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Joby Aviation in the 2nd quarter worth approximately $57,000. Finally, Choreo LLC purchased a new position in shares of Joby Aviation in the second quarter worth approximately $60,000. 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.