Joby Aviation's (JOBY) Overweight Rating Reiterated at Cantor Fitzgerald

Joby Aviation (NYSE:JOBY - Get Free Report)'s stock had its "overweight" rating restated by equities researchers at Cantor Fitzgerald in a note issued to investors on Tuesday, Benzinga reports. They presently have a $10.00 price target on the stock. Cantor Fitzgerald's price target points to a potential upside of 102.84% from the stock's current price.

A number of other brokerages also recently commented on JOBY. JPMorgan Chase & Co. upped their target price on Joby Aviation from $5.00 to $6.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 24th. HC Wainwright started coverage on shares of Joby Aviation in a research note on Tuesday. They set a "buy" rating and a $9.00 price objective on the stock. Finally, Canaccord Genuity Group lowered their price target on shares of 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 Trading Down 1.4 %

Shares of NYSE JOBY traded down $0.07 during midday 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 1 year low of $4.50 and a 1 year high of $7.69. The business's 50-day simple moving average is $5.52 and its 200 day simple moving average is $5.27. The stock has a market cap of $3.49 billion, a P/E ratio of -6.51 and a beta of 2.00.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, meeting the consensus estimate of ($0.18). The firm had revenue of $0.28 million for the quarter, compared to analysts' expectations of $0.28 million. During the same quarter in the previous year, the firm posted ($0.17) EPS. Analysts predict that Joby Aviation will post -0.69 earnings per share for the current year.

Insider Transactions at Joby Aviation

In related news, insider Didier Papadopoulos sold 7,262 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $5.15, for a total transaction of $37,399.30. Following the transaction, the insider now owns 65,561 shares of the company's stock, valued at approximately $337,639.15. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Joby Aviation news, insider Didier Papadopoulos sold 7,262 shares of the firm's stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew Field sold 11,766 shares of the company'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 transaction of $60,830.22. Following the sale, the insider now owns 299,880 shares in the company, valued at $1,550,379.60. The disclosure for this sale can be found here. Insiders sold 326,032 shares of company stock worth $1,613,336 in the last 90 days. Insiders own 32.40% of the company's stock.

Institutional Trading of Joby Aviation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JOBY. Nisa Investment Advisors LLC increased its position in Joby Aviation by 216.3% during the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company's stock worth $44,000 after buying an additional 5,840 shares during the period. Integris Wealth Management LLC acquired a new position in Joby Aviation in the second quarter valued at $54,000. Dakota Wealth Management purchased a new stake in shares of Joby Aviation in the second quarter valued at about $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Joby Aviation during the second quarter worth about $57,000. Finally, Choreo LLC purchased a new position in shares of Joby Aviation during the second quarter worth about $60,000. Institutional investors and hedge funds 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.