Joby Aviation (NYSE:JOBY) Rating Reiterated by HC Wainwright

HC Wainwright reiterated their buy rating on shares of Joby Aviation (NYSE:JOBY) in a research note released on Wednesday, Benzinga reports. They currently have a $9.00 price target on the stock.

A number of other research firms also recently issued reports on JOBY. Cantor Fitzgerald restated an overweight rating and issued a $10.00 target price on shares of Joby Aviation in a report on Monday. JPMorgan Chase & Co. boosted their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the company a neutral rating in a research note on Wednesday, July 24th. Finally, Canaccord Genuity Group cut their target price on Joby Aviation from $11.00 to $10.50 and set a buy rating on the stock in a research report on Thursday, August 8th.

Joby Aviation Stock Up 27.9 %

JOBY stock opened at $6.14 on Wednesday. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of -8.08 and a beta of 1.97. Joby Aviation has a 52-week low of $4.50 and a 52-week high of $7.69. The stock’s fifty day simple moving average is $5.23 and its 200-day simple moving average is $5.21.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.18). The business had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.28 million. During the same period in the previous year, the business posted ($0.17) earnings per share. As a group, analysts anticipate that Joby Aviation will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In other news, insider Matthew Field sold 11,766 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $5.17, for a total value of $60,830.22. Following the completion of the sale, the insider now owns 299,880 shares of the company’s stock, valued at $1,550,379.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Kate Dehoff sold 12,500 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $5.50, for a total transaction of $68,750.00. Following the sale, the insider now directly owns 189,163 shares in the company, valued at approximately $1,040,396.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Matthew Field sold 11,766 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $5.17, for a total value of $60,830.22. Following the transaction, the insider now directly owns 299,880 shares in the company, valued at $1,550,379.60. The disclosure for this sale can be found here. Insiders have sold a total of 490,831 shares of company stock valued at $2,468,020 over the last ninety days. Corporate insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

A number of hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its stake in shares of Joby Aviation by 216.3% during the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after acquiring an additional 5,840 shares in the last quarter. Integris Wealth Management LLC acquired a new stake in Joby Aviation during the 2nd quarter valued at approximately $54,000. Dakota Wealth Management purchased a new stake in Joby Aviation during the 2nd quarter worth approximately $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Joby Aviation in the 2nd quarter valued at approximately $57,000. Finally, Choreo LLC purchased a new position in shares of Joby Aviation during the 2nd quarter valued at approximately $60,000. Hedge funds and other institutional investors own 45.54% of the company’s stock.

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.