Joby Aviation (NYSE:JOBY) Earns Buy Rating from HC Wainwright

Joby Aviation (NYSE:JOBY)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They currently have a $9.00 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 9.22% from the company’s current price.

Several other equities analysts also recently commented on JOBY. Canaccord Genuity Group cut their price target on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Needham & Company LLC began coverage on Joby Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $8.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. reduced their target price on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $8.35.

Joby Aviation Price Performance

Shares of JOBY stock opened at $8.24 on Wednesday. The company has a market cap of $6.30 billion, a PE ratio of -11.77 and a beta of 2.32. The stock’s 50 day simple moving average is $6.50 and its two-hundred day simple moving average is $5.76. Joby Aviation has a 1 year low of $4.50 and a 1 year high of $9.33.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The company had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.06 million. During the same quarter in the prior year, the business earned ($0.13) earnings per share. Equities research analysts expect that Joby Aviation will post -0.69 EPS for the current year.

Insider Buying and Selling at Joby Aviation

In other news, insider Gregory Bowles sold 26,775 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $5.14, for a total value of $137,623.50. Following the completion of the sale, the insider now owns 18,035 shares of the company’s stock, valued at approximately $92,699.90. This represents a 59.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew Field sold 11,764 shares of Joby Aviation stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $5.78, for a total transaction of $67,995.92. Following the transaction, the insider now directly owns 298,786 shares in the company, valued at approximately $1,726,983.08. The trade was a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 535,506 shares of company stock valued at $2,759,533 in the last ninety days. Corporate insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

A number of large investors have recently added to or reduced their stakes in JOBY. Tidal Investments LLC increased its position in shares of Joby Aviation by 13.7% during the third quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock worth $147,000 after purchasing an additional 3,522 shares in the last quarter. Geode Capital Management LLC raised its stake in Joby Aviation by 7.7% in the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock valued at $47,245,000 after buying an additional 670,852 shares during the last quarter. Kensington Investment Counsel LLC grew its stake in shares of Joby Aviation by 12.0% during the third quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock worth $172,000 after acquiring an additional 3,653 shares during the last quarter. EP Wealth Advisors LLC raised its position in shares of Joby Aviation by 15.4% in the 3rd quarter. EP Wealth Advisors LLC now owns 37,369 shares of the company’s stock valued at $188,000 after purchasing an additional 5,000 shares during the last quarter. Finally, State Street Corp boosted its stake in Joby Aviation by 9.5% in the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company’s stock worth $47,144,000 after purchasing an additional 812,248 shares in the last quarter. 52.85% of the stock is currently owned by institutional investors.

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.