Joby Aviation (NYSE:JOBY) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Joby Aviation (NYSE:JOBY) in a report issued on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $10.00 price objective on the stock.

Separately, JPMorgan Chase & Co. upgraded Joby Aviation from an underweight rating to a neutral rating and set a $5.00 target price for the company in a report on Friday, May 3rd.

Joby Aviation Stock Down 1.3 %

JOBY opened at $6.97 on Monday. Joby Aviation has a 52 week low of $4.50 and a 52 week high of $9.55. The business has a fifty day simple moving average of $5.23 and a 200-day simple moving average of $5.39. The firm has a market cap of $4.93 billion, a P/E ratio of -9.16 and a beta of 2.00.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.03. The firm had revenue of $0.03 million for the quarter, compared to analysts’ expectations of $0.05 million. The company’s quarterly revenue was down 97.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.16) earnings per share. Sell-side analysts expect that Joby Aviation will post -0.69 earnings per share for the current year.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Kate Dehoff sold 5,815 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $6.76, for a total value of $39,309.40. Following the sale, the insider now directly owns 199,413 shares in the company, valued at $1,348,031.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Matthew Field sold 5,642 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $5.19, for a total value of $29,281.98. Following the transaction, the insider now owns 294,238 shares in the company, valued at approximately $1,527,095.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kate Dehoff sold 5,815 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $6.76, for a total value of $39,309.40. Following the completion of the transaction, the insider now owns 199,413 shares in the company, valued at approximately $1,348,031.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 345,982 shares of company stock worth $1,713,310. Company insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its holdings in Joby Aviation by 346.4% in the 2nd quarter. SG Americas Securities LLC now owns 336,062 shares of the company’s stock valued at $1,714,000 after purchasing an additional 260,780 shares in the last quarter. DNB Asset Management AS boosted its stake in shares of Joby Aviation by 21.1% during the 2nd quarter. DNB Asset Management AS now owns 88,906 shares of the company’s stock worth $453,000 after acquiring an additional 15,504 shares in the last quarter. Cetera Advisors LLC boosted its stake in shares of Joby Aviation by 32.9% during the 1st quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock worth $109,000 after acquiring an additional 5,025 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Joby Aviation by 5.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 193,322 shares of the company’s stock worth $1,037,000 after acquiring an additional 10,234 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Joby Aviation during the 1st quarter worth approximately $15,357,000. 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.