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

HC Wainwright assumed coverage on shares of Joby Aviation (NYSE:JOBY) in a research note released on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $9.00 target price on the stock.

Other equities analysts have also issued research reports about the company. Canaccord Genuity Group reduced their price objective on Joby Aviation from $11.00 to $10.50 and set a buy rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the company a neutral rating in a research report on Wednesday, July 24th. Finally, Cantor Fitzgerald reiterated an overweight rating and set a $10.00 target price on shares of Joby Aviation in a research report on Monday, August 19th.

Joby Aviation Stock Performance

NYSE:JOBY opened at $4.84 on Tuesday. Joby Aviation has a 52 week low of $4.50 and a 52 week high of $7.69. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of -6.36 and a beta of 1.98. The company has a 50-day moving average of $5.51 and a 200-day moving average of $5.25.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, meeting the consensus estimate of ($0.18). The firm had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.28 million. During the same quarter in the prior year, the firm posted ($0.17) EPS. Sell-side analysts forecast that Joby Aviation will post -0.69 EPS for the current year.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Kate Dehoff sold 5,815 shares of the business’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 completion of the sale, the insider now directly owns 199,413 shares of the company’s stock, valued at approximately $1,348,031.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Didier Papadopoulos sold 23,188 shares of the business’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 $112,693.68. Following the completion of the transaction, the insider now directly owns 54,666 shares in the company, valued at approximately $265,676.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kate Dehoff sold 5,815 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now directly 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 have sold a total of 326,032 shares of company stock worth $1,613,336 over the last 90 days. Insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

A number of large investors have recently bought and sold shares of JOBY. 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 worth $44,000 after purchasing an additional 5,840 shares during the period. Integris Wealth Management LLC bought a new position in shares of Joby Aviation during the second quarter worth about $54,000. Dakota Wealth Management acquired a new stake in Joby Aviation in the 2nd quarter valued at approximately $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Joby Aviation in the 2nd quarter valued at approximately $57,000. Finally, Choreo LLC acquired a new position in Joby Aviation during the 2nd quarter worth approximately $60,000. 45.54% of the stock is owned by institutional investors.

About Joby Aviation

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.