Joby Aviation (NYSE:JOBY) Receives Overweight Rating from Cantor Fitzgerald

Joby Aviation (NYSE:JOBY - Get Free Report)'s stock had its "overweight" rating reaffirmed by Cantor Fitzgerald in a note issued to investors on Monday, Benzinga reports. They presently have a $10.00 price target on the stock. Cantor Fitzgerald's price target suggests a potential upside of 100.00% from the company's previous close.

A number of other research analysts have also weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Joby Aviation from $5.00 to $6.00 and gave the company a "neutral" rating in a research note on Wednesday, July 24th. HC Wainwright started coverage on shares of Joby Aviation in a research report on Tuesday, September 3rd. They issued a "buy" rating and a $9.00 price objective on the stock. Finally, Canaccord Genuity Group lowered their target price on Joby Aviation from $11.00 to $10.50 and set a "buy" rating for the company in a report on Thursday, August 8th.

Joby Aviation Trading Up 4.8 %

Shares of JOBY stock traded up $0.23 on Monday, hitting $5.00. The stock had a trading volume of 4,827,184 shares, compared to its average volume of 5,536,188. The firm has a market cap of $3.58 billion, a P/E ratio of -6.58 and a beta of 1.98. Joby Aviation has a twelve month low of $4.50 and a twelve month high of $7.69. The company has a fifty day moving average price of $5.51 and a two-hundred day moving average price of $5.23.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its 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 business had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.28 million. During the same period in the previous year, the firm posted ($0.17) earnings per share. On average, analysts expect that Joby Aviation will post -0.69 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Didier Papadopoulos sold 23,188 shares of the firm's stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $4.86, for a total value of $112,693.68. Following the completion of the transaction, the insider now owns 54,666 shares in the company, valued at approximately $265,676.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Joeben Bevirt sold 250,000 shares of the business's stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $4.86, for a total transaction of $1,215,000.00. Following the transaction, the chief executive officer now directly owns 32,724,274 shares in the company, valued at approximately $159,039,971.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Didier Papadopoulos sold 23,188 shares of the firm's stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $4.86, for a total transaction of $112,693.68. Following the completion of the sale, the insider now owns 54,666 shares of the company's stock, valued at $265,676.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 326,032 shares of company stock worth $1,613,336. 32.40% of the stock is owned by insiders.

Institutional Trading of Joby Aviation

Several institutional investors and hedge funds have recently bought and sold shares of JOBY. 8VC GP I LLC acquired a new stake in shares of Joby Aviation during the 4th quarter worth about $95,727,000. Vanguard Group Inc. increased its stake in shares of Joby Aviation by 9.1% during the first quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company's stock worth $185,776,000 after purchasing an additional 2,889,012 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Joby Aviation during the first quarter worth approximately $15,357,000. Ieq Capital LLC boosted its stake in Joby Aviation by 68.6% in the 2nd 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 during the period. Finally, Lingotto Investment Management LLP grew its holdings in Joby Aviation by 129.8% in the 4th quarter. Lingotto Investment Management LLP now owns 2,088,980 shares of the company's stock valued at $13,892,000 after buying an additional 1,180,000 shares in the last quarter. Institutional investors own 45.54% of the company's stock.

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.