Joby Aviation (NYSE:JOBY) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Joby Aviation (NYSE:JOBY) in a research report released on Monday, Benzinga reports. The brokerage currently has a $10.00 target price on the stock.

A number of other equities analysts also recently commented on JOBY. HC Wainwright started coverage on Joby Aviation in a report on Tuesday, September 3rd. They issued a buy rating and a $9.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on 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 price target on Joby Aviation from $11.00 to $10.50 and set a buy rating on the stock in a report on Thursday, August 8th.

Joby Aviation Stock Performance

Joby Aviation stock opened at $5.03 on Monday. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of -6.75 and a beta of 1.97. Joby Aviation has a fifty-two week low of $4.50 and a fifty-two week high of $7.69. The stock’s fifty day moving average is $5.30 and its two-hundred day moving average is $5.21.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.18). The company had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.28 million. During the same quarter in the prior year, the company earned ($0.17) earnings per share. As a group, sell-side analysts forecast that Joby Aviation will post -0.69 EPS for the current fiscal year.

Insider Transactions at Joby Aviation

In related news, insider Matthew Field sold 11,766 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $5.17, for a total transaction of $60,830.22. Following the completion of the sale, the insider now owns 299,880 shares in the company, valued at approximately $1,550,379.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Matthew Field sold 11,766 shares of the 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 completion of the transaction, the insider now directly owns 299,880 shares of the company’s stock, valued at approximately $1,550,379.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Didier Papadopoulos sold 7,262 shares of Joby Aviation stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $5.15, for a total value of $37,399.30. Following the completion of the transaction, the insider now owns 65,561 shares of the company’s stock, valued at approximately $337,639.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,427 shares of company stock worth $434,590. 32.40% of the stock is owned by corporate insiders.

Institutional Trading of Joby Aviation

A number of institutional investors have recently modified their holdings of JOBY. Sanctuary Advisors LLC acquired a new position in shares of Joby Aviation in the second quarter valued at approximately $81,000. EP Wealth Advisors LLC bought a new position in shares of Joby Aviation in the 2nd quarter valued at $165,000. Algert Global LLC bought a new position in Joby Aviation during the 2nd quarter worth $90,000. Susquehanna Fundamental Investments LLC raised its position in Joby Aviation by 1,018.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock worth $3,453,000 after purchasing an additional 616,579 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Joby Aviation by 28.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 248,275 shares of the company’s stock worth $1,266,000 after acquiring an additional 55,340 shares during the period. 45.54% of the stock is currently 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.