Joby Aviation (NYSE:JOBY) Coverage Initiated at HC Wainwright

HC Wainwright assumed coverage on shares of Joby Aviation (NYSE:JOBY - Free Report) in a research report sent to investors on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $9.00 price target on the stock.

Other research analysts also recently issued research reports about the company. Cantor Fitzgerald reiterated an overweight rating and set a $10.00 price target on shares of Joby Aviation in a report on Monday, August 19th. JPMorgan Chase & Co. lifted their target price 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 reduced their price target on shares of Joby Aviation from $11.00 to $10.50 and set a buy rating for the company in a research report on Thursday, August 8th.

Joby Aviation Stock Performance

JOBY traded down $0.07 during trading on Tuesday, reaching $4.93. The company had a trading volume of 6,763,305 shares, compared to its average volume of 5,552,368. Joby Aviation has a 12-month low of $4.50 and a 12-month high of $7.69. The company has a market cap of $3.49 billion, a price-to-earnings ratio of -6.51 and a beta of 2.00. The firm's 50-day simple moving average is $5.52 and its 200 day simple moving average is $5.27.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.18). The firm had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.28 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. On average, sell-side analysts expect that Joby Aviation will post -0.69 EPS for the current year.

Insider Transactions at Joby Aviation

In other Joby Aviation 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 transaction, the insider now owns 299,880 shares in the company, valued at $1,550,379.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Didier Papadopoulos sold 7,262 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $5.15, for a total transaction of $37,399.30. Following the completion of the sale, the insider now owns 65,561 shares in the company, valued at approximately $337,639.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Matthew Field sold 11,766 shares of Joby Aviation 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 in the company, valued at $1,550,379.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 326,032 shares of company stock worth $1,613,336. 32.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Joby Aviation

Hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its stake in shares of Joby Aviation by 216.3% in the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company's stock valued at $44,000 after buying an additional 5,840 shares during the period. Integris Wealth Management LLC bought a new stake in shares of Joby Aviation in the 2nd quarter worth approximately $54,000. Dakota Wealth Management acquired a new stake in shares of Joby Aviation during the 2nd quarter worth approximately $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Joby Aviation during the second quarter valued at approximately $57,000. Finally, Choreo LLC acquired a new position in shares of Joby Aviation in the second quarter valued at $60,000. 45.54% of the stock is owned by institutional investors.

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.