Cantor Fitzgerald Reaffirms "Overweight" Rating for Joby Aviation (NYSE:JOBY)

Joby Aviation (NYSE:JOBY - Get Free Report)'s stock had its "overweight" rating reissued by analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $10.00 price objective on the stock. Cantor Fitzgerald's target price would indicate a potential upside of 105.55% from the company's current price.

Separately, JPMorgan Chase & Co. upgraded Joby Aviation from an "underweight" rating to a "neutral" rating and set a $5.00 target price for the company in a report on Friday, May 3rd.

Joby Aviation Price Performance

Shares of JOBY stock traded down $0.23 during mid-day trading on Monday, hitting $4.87. The stock had a trading volume of 8,340,082 shares, compared to its average volume of 5,041,794. Joby Aviation has a 12-month low of $4.50 and a 12-month high of $11.30. The firm has a market capitalization of $3.45 billion, a P/E ratio of -6.40 and a beta of 2.00. The firm's 50-day moving average is $5.04 and its two-hundred day moving average is $5.45.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.03. The firm had revenue of $0.03 million during the quarter, compared to analysts' expectations of $0.05 million. During the same quarter in the prior year, the company posted ($0.16) earnings per share. Joby Aviation's quarterly revenue was down 97.5% compared to the same quarter last year. Analysts expect that Joby Aviation will post -0.69 EPS for the current year.

Insider Buying and Selling at Joby Aviation

In other news, insider Matthew Field sold 13,953 shares of Joby Aviation stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $4.96, for a total value of $69,206.88. Following the transaction, the insider now owns 269,196 shares of the company's stock, valued at approximately $1,335,212.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Joby Aviation news, insider Didier Papadopoulos sold 11,362 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $4.96, for a total value of $56,355.52. Following the completion of the sale, the insider now directly owns 68,278 shares in the company, valued at $338,658.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Matthew Field sold 13,953 shares of the business's stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $4.96, for a total value of $69,206.88. Following the sale, the insider now owns 269,196 shares in the company, valued at approximately $1,335,212.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,587 shares of company stock valued at $422,792. 32.40% of the stock is currently owned by insiders.

Institutional Trading of Joby Aviation

Institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers lifted its stake in shares of Joby Aviation by 2.0% during the third quarter. Rhumbline Advisers now owns 418,937 shares of the company's stock worth $2,702,000 after buying an additional 8,036 shares during the period. Teza Capital Management LLC acquired a new stake in Joby Aviation during the 3rd quarter worth about $76,000. Schonfeld Strategic Advisors LLC lifted its position in Joby Aviation by 596.5% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 160,200 shares of the company's stock worth $1,033,000 after acquiring an additional 137,200 shares during the period. AXQ Capital LP purchased a new stake in Joby Aviation during the 3rd quarter valued at about $92,000. Finally, Tudor Investment Corp Et Al acquired a new position in shares of Joby Aviation in the third quarter valued at about $3,534,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

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.