Joby Aviation (NYSE:JOBY) Stock Rating Reaffirmed by Cantor Fitzgerald

Joby Aviation (NYSE:JOBY)‘s stock had its “overweight” rating reiterated by research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $10.00 target price on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 94.36% from the company’s previous close.

A number of other brokerages also recently issued reports on JOBY. JPMorgan Chase & Co. upped their price target on Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Canaccord Genuity Group lowered 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 note on Thursday, August 8th. Finally, HC Wainwright assumed coverage on shares of Joby Aviation in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $9.00 price target for the company.

Joby Aviation Stock Performance

Shares of JOBY opened at $5.15 on Monday. Joby Aviation has a fifty-two week low of $4.50 and a fifty-two week high of $7.69. The firm’s 50-day simple moving average is $5.40 and its two-hundred day simple moving average is $5.21. The stock has a market cap of $3.64 billion, a PE ratio of -6.77 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 quarter in the previous year, the firm earned ($0.17) EPS. Equities research analysts predict that Joby Aviation will post -0.69 EPS for the current year.

Insider Activity at Joby Aviation

In related news, insider Didier Papadopoulos sold 23,188 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.86, for a total value of $112,693.68. Following the transaction, the insider now directly owns 54,666 shares of the company’s stock, valued at approximately $265,676.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $4.86, for a total transaction of $1,215,000.00. Following the sale, the chief executive officer now directly owns 32,724,274 shares in the company, valued at approximately $159,039,971.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Didier Papadopoulos sold 23,188 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.86, for a total transaction of $112,693.68. Following the completion of the transaction, the insider now directly owns 54,666 shares of the company’s stock, valued at approximately $265,676.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 354,615 shares of company stock worth $1,762,283. 32.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Joby Aviation

Hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its holdings in Joby Aviation by 216.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after purchasing an additional 5,840 shares in the last quarter. Integris Wealth Management LLC purchased a new position in shares of Joby Aviation in the second quarter worth $54,000. Dakota Wealth Management bought a new position in shares of Joby Aviation during the second quarter worth $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Joby Aviation during the second quarter valued at $57,000. Finally, Private Advisor Group LLC purchased a new stake in Joby Aviation in the 4th quarter worth $77,000. 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.