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

Cantor Fitzgerald reiterated their overweight rating on shares of Joby Aviation (NYSE:JOBY) in a report issued on Monday, Benzinga reports. The brokerage currently has a $10.00 target price on the stock.

A number of other equities research analysts also recently weighed in on JOBY. HC Wainwright started coverage on shares of Joby Aviation in a research report on Tuesday, September 3rd. They set a buy rating and a $9.00 price objective for the company. JPMorgan Chase & Co. boosted their price target on shares of Joby Aviation from $5.00 to $6.00 and gave the company a neutral rating in a report on Wednesday, July 24th. Finally, Canaccord Genuity Group dropped their price objective on shares of Joby Aviation from $11.00 to $10.50 and set a buy rating on the stock in a report on Thursday, August 8th.

Joby Aviation Trading Up 27.9 %

JOBY stock opened at $6.14 on Monday. Joby Aviation has a twelve month low of $4.50 and a twelve month high of $7.69. The company has a market capitalization of $4.40 billion, a P/E ratio of -8.08 and a beta of 1.97. The firm has a 50 day simple moving average of $5.23 and a 200-day simple moving average of $5.21.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, meeting the consensus estimate of ($0.18). The firm had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.28 million. During the same period in the prior year, the firm earned ($0.17) earnings per share. On average, research analysts predict that Joby Aviation will post -0.69 EPS for the current year.

Insider Transactions at Joby Aviation

In related news, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction dated 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 owns 32,674,274 shares in the company, valued at approximately $158,470,228.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 32,674,274 shares of the company’s stock, valued at $158,470,228.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Didier Papadopoulos sold 6,025 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $5.33, for a total transaction of $32,113.25. Following the completion of the sale, the insider now owns 47,474 shares in the company, valued at $253,036.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 490,831 shares of company stock valued at $2,468,020. 32.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Joby Aviation

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Joby Aviation by 9.1% during the first quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after purchasing an additional 2,889,012 shares during the period. Ieq Capital LLC increased its stake in Joby Aviation by 68.6% in the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock valued at $22,652,000 after buying an additional 1,807,054 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Joby Aviation in the 1st quarter valued at approximately $15,357,000. Lingotto Investment Management LLP boosted its stake in shares of Joby Aviation by 129.8% during the 4th quarter. Lingotto Investment Management LLP now owns 2,088,980 shares of the company’s stock valued at $13,892,000 after buying an additional 1,180,000 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Joby Aviation by 41.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock valued at $7,521,000 after acquiring an additional 435,069 shares in the last quarter. Institutional investors and hedge funds 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.