Joby Aviation’s (JOBY) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Joby Aviation (NYSE:JOBY) in a report published on Monday, Benzinga reports. They currently have a $10.00 target price on the stock.

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

NYSE JOBY opened at $5.34 on Monday. Joby Aviation has a 1-year low of $4.50 and a 1-year high of $7.69. The firm has a market capitalization of $3.82 billion, a P/E ratio of -7.02 and a beta of 1.98. The business’s 50-day simple moving average is $5.52 and its 200-day simple moving average is $5.23.

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

Insiders Place Their Bets

In other news, CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $4.86, for a total transaction of $1,215,000.00. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $4.86, for a total value of $1,215,000.00. Following the transaction, the chief executive officer now directly owns 32,724,274 shares of the company’s stock, valued at approximately $159,039,971.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kate Dehoff sold 5,815 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $6.76, for a total value of $39,309.40. Following the transaction, the insider now owns 199,413 shares of the company’s stock, valued at $1,348,031.88. The disclosure for this sale can be found here. Insiders have sold 326,032 shares of company stock worth $1,613,336 in the last quarter. 32.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in JOBY. Vanguard Group Inc. lifted 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 last quarter. 8VC GP I LLC acquired a new stake in Joby Aviation during the fourth quarter valued at approximately $95,727,000. Ieq Capital LLC lifted its holdings in Joby Aviation by 68.6% during the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after buying an additional 1,807,054 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Joby Aviation by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,818,603 shares of the company’s stock worth $25,394,000 after acquiring an additional 64,404 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Joby Aviation in the 1st quarter valued at approximately $15,357,000. 45.54% of the stock is owned by institutional investors and hedge funds.

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.