Joby Aviation (NYSE:JOBY) Stock Rating Reaffirmed by Cantor Fitzgerald

Joby Aviation (NYSE:JOBY)‘s stock had its “overweight” rating restated by equities researchers at Cantor Fitzgerald in a research note issued on Monday, Benzinga reports. They presently have a $10.00 price target on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 107.47% from the stock’s previous close.

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

Joby Aviation Price Performance

Shares of Joby Aviation stock traded down $0.28 on Monday, hitting $4.82. 2,872,685 shares of the company’s stock traded hands, compared to its average volume of 4,998,089. The firm’s 50-day moving average price is $5.03 and its two-hundred day moving average price is $5.47. The stock has a market capitalization of $3.41 billion, a PE ratio of -6.34 and a beta of 2.00. Joby Aviation has a one year low of $4.50 and a one year high of $11.30.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Tuesday, May 7th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.03. The business had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.05 million. During the same quarter in the previous year, the firm posted ($0.16) EPS. The business’s revenue was down 97.5% on a year-over-year basis. On average, analysts forecast that Joby Aviation will post -0.69 earnings per share for the current fiscal year.

Insider Activity at Joby Aviation

In related news, CEO Joeben Bevirt sold 23,750 shares of the company’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $4.96, for a total value of $117,800.00. Following the completion of the sale, the chief executive officer now owns 653,011 shares in the company, valued at approximately $3,238,934.56. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Joby Aviation news, CEO Joeben Bevirt sold 23,750 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $4.96, for a total transaction of $117,800.00. Following the completion of the transaction, the chief executive officer now owns 653,011 shares in the company, valued at approximately $3,238,934.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Matthew Field sold 13,953 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $4.96, for a total value of $69,206.88. Following the transaction, the insider now owns 269,196 shares of the company’s stock, valued at approximately $1,335,212.16. The disclosure for this sale can be found here. Insiders sold a total of 86,587 shares of company stock worth $422,792 in the last quarter. Corporate insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

Large investors have recently added to or reduced their stakes in the company. 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 buying an additional 5,025 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Joby Aviation by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 193,322 shares of the company’s stock valued at $1,037,000 after purchasing an additional 10,234 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Joby Aviation in the 1st quarter valued at about $15,357,000. Vanguard Group Inc. lifted its stake in Joby Aviation by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock valued at $185,776,000 after purchasing an additional 2,889,012 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in Joby Aviation by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 50,103 shares of the company’s stock valued at $269,000 after purchasing an additional 3,942 shares during the last quarter. Institutional investors 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.