Joby Aviation’s (JOBY) “Overweight” Rating Reiterated at 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. They currently have a $10.00 price target on the stock.

Separately, JPMorgan Chase & Co. upgraded shares of Joby Aviation from an underweight rating to a neutral rating and set a $5.00 price objective for the company in a research note on Friday, May 3rd.

Joby Aviation Price Performance

NYSE:JOBY opened at $5.00 on Monday. The firm has a 50 day simple moving average of $4.98 and a 200-day simple moving average of $5.54. The firm has a market cap of $3.54 billion, a PE ratio of -6.58 and a beta of 2.00. Joby Aviation has a 1-year low of $4.50 and a 1-year high of $11.98.

Joby Aviation (NYSE:JOBY) last released its earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. The company had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $0.05 million. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. Joby Aviation’s revenue for the quarter was down 97.5% compared to the same quarter last year. As a group, sell-side analysts expect that Joby Aviation will post -0.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Didier Papadopoulos sold 11,362 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $4.96, for a total value of $56,355.52. Following the sale, the insider now owns 68,278 shares of the company’s stock, valued at approximately $338,658.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Didier Papadopoulos sold 11,362 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $4.96, for a total value of $56,355.52. Following the sale, the insider now owns 68,278 shares of the company’s stock, valued at approximately $338,658.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $5.18, for a total transaction of $1,295,000.00. Following the completion of the sale, the chief executive officer now directly owns 32,774,274 shares in the company, valued at approximately $169,770,739.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 336,587 shares of company stock valued at $1,717,792. Company insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

Large investors have recently made changes to their positions in the business. Sittner & Nelson LLC boosted its position in shares of Joby Aviation by 100.0% during the 3rd quarter. Sittner & Nelson LLC now owns 4,000 shares of the company’s stock valued at $26,000 after purchasing an additional 2,000 shares in the last quarter. Monterey Private Wealth Inc. bought a new position in shares of Joby Aviation during the 4th quarter valued at about $67,000. International Assets Investment Management LLC bought a new position in shares of Joby Aviation during the 4th quarter valued at about $73,000. Teza Capital Management LLC bought a new position in shares of Joby Aviation during the 3rd quarter valued at about $76,000. Finally, Private Advisor Group LLC bought a new position in shares of Joby Aviation during the 4th quarter valued at about $77,000. 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.