Cantor Fitzgerald Reiterates “Overweight” Rating for Joby Aviation (NYSE:JOBY)

Joby Aviation (NYSE:JOBY)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a note issued to investors on Monday, Benzinga reports. They presently have a $10.00 price objective on the stock. Cantor Fitzgerald’s target price points to a potential upside of 101.61% from the company’s current price.

Separately, JPMorgan Chase & Co. upgraded 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 Trading Up 1.8 %

Joby Aviation stock opened at $4.96 on Monday. Joby Aviation has a 12-month low of $4.50 and a 12-month high of $11.30. The firm has a 50-day moving average price of $5.04 and a 200-day moving average price of $5.44. The firm has a market capitalization of $3.51 billion, a PE ratio of -6.53 and a beta of 2.00.

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

Insider Transactions at Joby Aviation

In other news, insider Eric Allison sold 19,393 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $4.70, for a total value of $91,147.10. Following the transaction, the insider now directly owns 422,592 shares of the company’s stock, valued at $1,986,182.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Joby Aviation news, insider Matthew Field sold 13,953 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $4.96, for a total transaction of $69,206.88. Following the completion of the transaction, the insider now owns 269,196 shares of the company’s stock, valued at $1,335,212.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric Allison sold 19,393 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $4.70, for a total transaction of $91,147.10. Following the transaction, the insider now directly owns 422,592 shares of the company’s stock, valued at approximately $1,986,182.40. The disclosure for this sale can be found here. Insiders have sold 51,475 shares of company stock valued at $248,636 over the last ninety days. Insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JOBY. Cetera Advisors LLC grew its stake in shares of Joby Aviation by 32.9% during the first quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock worth $109,000 after purchasing an additional 5,025 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Joby Aviation by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 193,322 shares of the company’s stock valued at $1,037,000 after acquiring an additional 10,234 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Joby Aviation during the 1st quarter worth about $15,357,000. Vanguard Group Inc. lifted its stake in 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 last quarter. Finally, ProShare Advisors LLC boosted its holdings in Joby Aviation by 8.5% in the first quarter. ProShare Advisors LLC now owns 50,103 shares of the company’s stock valued at $269,000 after purchasing an additional 3,942 shares in the last quarter. Hedge funds and other 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.