Joby Aviation (NYSE:JOBY) Rating Reiterated by Cantor Fitzgerald

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

Several other research firms have also recently weighed in on JOBY. Canaccord Genuity Group reduced their price objective on Joby Aviation from $11.00 to $10.50 and set a buy rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on shares of Joby Aviation from $5.00 to $6.00 and gave the company a neutral rating in a report on Wednesday, July 24th.

Joby Aviation Price Performance

Joby Aviation stock opened at $4.99 on Monday. Joby Aviation has a fifty-two week low of $4.50 and a fifty-two week high of $7.69. The firm has a fifty day moving average price of $5.51 and a two-hundred day moving average price of $5.32. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of -6.56 and a beta of 2.00.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, hitting the consensus estimate 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 in the prior year, the firm posted ($0.17) EPS. As a group, sell-side 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 news, insider Kate Dehoff sold 5,815 shares of Joby Aviation stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $6.76, for a total transaction of $39,309.40. Following 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 Securities & Exchange Commission, which is available through the SEC website. In related news, insider Didier Papadopoulos sold 23,188 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $4.86, for a total value of $112,693.68. Following the completion of the transaction, the insider now owns 54,666 shares of the company’s stock, valued at $265,676.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kate Dehoff sold 5,815 shares of the firm’s 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 transaction, the insider now owns 199,413 shares of the company’s stock, valued at approximately $1,348,031.88. The disclosure for this sale can be found here. Insiders sold a total of 326,032 shares of company stock valued at $1,613,336 in the last quarter. Corporate insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

Hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its stake in Joby Aviation by 216.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after buying an additional 5,840 shares in the last quarter. Integris Wealth Management LLC acquired a new stake in shares of Joby Aviation in the 2nd quarter valued at $54,000. Dakota Wealth Management bought a new stake in shares of Joby Aviation in the 2nd quarter worth about $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Joby Aviation during the 2nd quarter worth about $57,000. Finally, Choreo LLC bought a new position in Joby Aviation during the 2nd quarter valued at about $60,000. 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.