Joby Aviation (NYSE:JOBY) Now Covered by Needham & Company LLC

Needham & Company LLC started coverage on shares of Joby Aviation (NYSE:JOBY) in a research report report published on Tuesday, Marketbeat reports. The brokerage issued a buy rating and a $8.00 price objective on the stock.

A number of other equities analysts have also weighed in on JOBY. Canaccord Genuity Group dropped their price target on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research report on Tuesday, October 29th. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Wednesday, October 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. cut their target price on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Joby Aviation has an average rating of “Moderate Buy” and an average price target of $8.35.

Joby Aviation Trading Up 12.8 %

Shares of JOBY stock opened at $6.33 on Tuesday. Joby Aviation has a 12 month low of $4.50 and a 12 month high of $7.69. The stock has a market cap of $4.84 billion, a P/E ratio of -9.04 and a beta of 1.97. The company has a 50 day simple moving average of $5.44 and a two-hundred day simple moving average of $5.34.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The firm had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.06 million. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter in the previous year, the company earned ($0.13) earnings per share. As a group, equities analysts forecast that Joby Aviation will post -0.69 earnings per share for the current year.

Insider Activity at Joby Aviation

In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total value of $1,212,500.00. Following the completion of the transaction, the chief executive officer now directly owns 32,674,274 shares of the company’s stock, valued at $158,470,228.90. This trade represents a 0.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Matthew Field sold 5,643 shares of Joby Aviation stock in a transaction on Monday, October 7th. The stock was sold at an average price of $5.96, for a total transaction of $33,632.28. Following the completion of the transaction, the insider now directly owns 293,143 shares of the company’s stock, valued at $1,747,132.28. The trade was a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 525,499 shares of company stock valued at $2,667,151. Corporate insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors have recently made changes to their positions in JOBY. Vanguard Group Inc. lifted its holdings 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 during the last quarter. Ieq Capital LLC lifted its holdings in shares of Joby Aviation by 68.6% in the 2nd 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. State Street Corp lifted its holdings in shares of Joby Aviation by 9.5% in the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company’s stock worth $47,144,000 after acquiring an additional 812,248 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Joby Aviation by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after acquiring an additional 670,852 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC lifted its holdings in shares of Joby Aviation by 1,018.5% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock worth $3,453,000 after acquiring an additional 616,579 shares during the last quarter. 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.