Joby Aviation (NYSE:JOBY) PT Raised to $6.00 at JPMorgan Chase & Co.

Joby Aviation (NYSE:JOBY) had its price target raised by JPMorgan Chase & Co. from $5.00 to $6.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Separately, Cantor Fitzgerald reiterated an overweight rating and issued a $10.00 price target on shares of Joby Aviation in a research report on Monday, July 22nd.

Joby Aviation Stock Up 1.9 %

Shares of NYSE:JOBY opened at $6.30 on Wednesday. Joby Aviation has a 12-month low of $4.50 and a 12-month high of $8.98. The stock has a market cap of $4.46 billion, a PE ratio of -8.29 and a beta of 2.00. The business has a 50 day moving average of $5.39 and a 200-day moving average of $5.39.

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

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 32,724,274 shares in the company, valued at $159,039,971.64. The sale 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 business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 32,724,274 shares in the company, valued at $159,039,971.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Didier Papadopoulos sold 23,188 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $4.86, for a total transaction of $112,693.68. Following the transaction, the insider now owns 54,666 shares of the company’s stock, valued at $265,676.76. The disclosure for this sale can be found here. Insiders sold a total of 345,982 shares of company stock worth $1,713,310 over the last three months. Corporate insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its stake in shares of Joby Aviation by 216.3% during the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after buying an additional 5,840 shares during the last quarter. Integris Wealth Management LLC bought a new stake in shares of Joby Aviation during the second quarter worth $54,000. Dakota Wealth Management bought a new stake in shares of Joby Aviation during the second quarter worth $56,000. International Assets Investment Management LLC bought a new stake in shares of Joby Aviation during the fourth quarter worth $73,000. Finally, Private Advisor Group LLC bought a new stake in shares of Joby Aviation during the fourth quarter worth $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.