Joby Aviation (NYSE:JOBY) Receives New Coverage from Analysts at HC Wainwright

Equities researchers at HC Wainwright started coverage on shares of Joby Aviation (NYSE:JOBY) in a report released on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $9.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 84.24% from the stock’s current price.

Several other equities analysts also recently commented on JOBY. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Monday, August 19th. JPMorgan Chase & Co. upped their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, Canaccord Genuity Group lowered their target price on Joby Aviation from $11.00 to $10.50 and set a “buy” rating for the company in a research note on Thursday, August 8th.

Joby Aviation Stock Down 0.7 %

Shares of NYSE JOBY opened at $4.89 on Tuesday. The firm’s 50-day simple moving average is $5.52 and its 200 day simple moving average is $5.26. The company has a market cap of $3.50 billion, a price-to-earnings ratio of -6.43 and a beta of 1.98. Joby Aviation has a 12-month low of $4.50 and a 12-month high of $7.69.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, meeting analysts’ consensus estimates of ($0.18). The company had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.28 million. During the same period last year, the company earned ($0.17) earnings per share. On average, equities analysts expect that Joby Aviation will post -0.69 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Didier Papadopoulos sold 23,188 shares of Joby Aviation 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 sale, the insider now owns 54,666 shares in the company, valued at approximately $265,676.76. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Joeben Bevirt sold 250,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $4.86, for a total value of $1,215,000.00. Following the completion of the sale, the chief executive officer now owns 32,724,274 shares in the company, valued at approximately $159,039,971.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Didier Papadopoulos sold 23,188 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $4.86, for a total value of $112,693.68. Following the completion of the sale, the insider now owns 54,666 shares of the company’s stock, valued at approximately $265,676.76. The disclosure for this sale can be found here. Insiders sold a total of 326,032 shares of company stock worth $1,613,336 in the last quarter. 32.40% of the stock is owned by company insiders.

Institutional Trading of Joby Aviation

Hedge funds have recently bought and sold shares of the company. New York State Common Retirement Fund lifted its position in Joby Aviation by 8.1% in the 4th quarter. New York State Common Retirement Fund now owns 114,331 shares of the company’s stock worth $760,000 after buying an additional 8,595 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Joby Aviation by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,818,603 shares of the company’s stock worth $25,394,000 after purchasing an additional 64,404 shares during the period. Private Advisor Group LLC purchased a new position in Joby Aviation in the 4th quarter worth approximately $77,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Joby Aviation by 215.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,682 shares of the company’s stock worth $1,965,000 after purchasing an additional 270,794 shares during the period. Finally, Apollon Wealth Management LLC purchased a new position in Joby Aviation in the 4th quarter worth approximately $88,000. 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.