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 research report report published on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $10.00 price objective on the stock.

Several other research firms have also issued reports on JOBY. HC Wainwright began coverage on shares of Joby Aviation in a report on Tuesday, September 3rd. They issued a buy rating and a $9.00 price target on the stock. Canaccord Genuity Group reduced their target price on Joby Aviation from $11.00 to $10.50 and set a buy rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their price target on Joby Aviation from $5.00 to $6.00 and gave the stock a neutral rating in a report on Wednesday, July 24th.

Joby Aviation Price Performance

Shares of NYSE JOBY opened at $5.10 on Monday. Joby Aviation has a 1-year low of $4.50 and a 1-year high of $7.69. The business has a fifty day moving average price of $5.36 and a 200 day moving average price of $5.21. The stock has a market capitalization of $3.65 billion, a P/E ratio of -6.72 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last released 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 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 prior year, the business posted ($0.17) earnings per share. As a group, equities research analysts anticipate that Joby Aviation will post -0.69 earnings per share for the current fiscal year.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Kate Dehoff sold 5,815 shares of Joby Aviation stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $6.76, for a total transaction of $39,309.40. Following the completion of the sale, the insider now owns 199,413 shares of the company’s stock, valued at approximately $1,348,031.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Didier Papadopoulos sold 7,262 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $5.15, for a total value of $37,399.30. Following the sale, the insider now owns 65,561 shares in the company, valued at $337,639.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kate Dehoff sold 5,815 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $6.76, for a total transaction 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 a total of 354,615 shares of company stock valued at $1,762,283 in the last ninety days. Company insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently modified their holdings of JOBY. Nisa Investment Advisors LLC raised its position in Joby Aviation by 216.3% during the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after acquiring an additional 5,840 shares in the last quarter. Integris Wealth Management LLC purchased a new position in shares of Joby Aviation during the 2nd quarter valued at approximately $54,000. Dakota Wealth Management acquired a new position in shares of Joby Aviation in the 2nd quarter valued at $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Joby Aviation during the second quarter worth $57,000. Finally, Private Advisor Group LLC acquired a new stake in Joby Aviation during the fourth quarter valued at $77,000. Institutional investors and hedge funds 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.