Joby Aviation (NYSE:JOBY) Earns "Buy" Rating from HC Wainwright

Joby Aviation (NYSE:JOBY - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $9.00 target price on the stock. HC Wainwright's price objective suggests a potential upside of 13.35% from the company's current price.

Several other brokerages also recently weighed in on JOBY. Cantor Fitzgerald reiterated an "overweight" rating and issued a $10.00 price target on shares of Joby Aviation in a report on Monday, September 30th. Canaccord Genuity Group cut their price objective on shares of Joby Aviation from $10.50 to $9.75 and set a "buy" rating on the stock in a research note on Tuesday, October 29th. Needham & Company LLC started coverage on shares of Joby Aviation in a research report on Tuesday, November 19th. They set a "buy" rating and a $8.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their price target on shares of Joby Aviation from $6.00 to $5.00 and set a "neutral" rating on the stock in a report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.35.

Joby Aviation Stock Down 3.6 %

Shares of JOBY traded down $0.30 during trading hours on Wednesday, reaching $7.94. 34,567,320 shares of the company traded hands, compared to its average volume of 8,723,037. The stock has a market capitalization of $6.07 billion, a P/E ratio of -11.34 and a beta of 2.32. The business has a fifty day moving average price of $6.54 and a 200-day moving average price of $5.77. Joby Aviation has a 12-month low of $4.50 and a 12-month high of $9.33.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. The firm had revenue of $0.28 million for the quarter, compared to analysts' expectations of $0.06 million. During the same quarter in the previous year, the firm posted ($0.13) EPS. As a group, research analysts predict that Joby Aviation will post -0.69 EPS for the current fiscal year.

Insider Activity

In other news, insider Matthew Field sold 5,643 shares of the business's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $5.96, for a total value of $33,632.28. Following the completion of the sale, the insider now directly owns 293,143 shares in the company, valued at $1,747,132.28. The trade was a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gregory Bowles sold 7,748 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $8.08, for a total value of $62,603.84. Following the transaction, the insider now owns 29,235 shares in the company, valued at $236,218.80. This trade represents a 20.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 535,506 shares of company stock valued at $2,759,533 in the last three months. 32.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Joby Aviation

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ieq Capital LLC lifted its holdings in Joby Aviation by 68.6% during the second quarter. Ieq Capital LLC now owns 4,441,574 shares of the company's stock valued at $22,652,000 after purchasing an additional 1,807,054 shares in the last quarter. State Street Corp raised its position in shares of Joby Aviation by 9.5% during the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company's stock worth $47,144,000 after purchasing an additional 812,248 shares during the last quarter. Geode Capital Management LLC lifted its stake in Joby Aviation by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company's stock valued at $47,245,000 after buying an additional 670,852 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its holdings in Joby Aviation by 1,018.5% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company's stock worth $3,453,000 after buying an additional 616,579 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Joby Aviation by 41.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company's stock worth $7,521,000 after buying an additional 435,069 shares in the last quarter. Hedge funds and other institutional investors own 52.85% 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.