Joby Aviation’s (JOBY) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Joby Aviation (NYSE:JOBY) in a research report report published on Monday, Benzinga reports. The firm currently has a $10.00 price target on the stock.

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 opened at $5.15 on Monday. The stock has a market capitalization of $3.64 billion, a PE ratio of -6.77 and a beta of 2.00. Joby Aviation has a 1-year low of $4.50 and a 1-year high of $11.06. The business has a 50-day moving average of $5.04 and a 200 day moving average of $5.43.

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

Insiders Place Their Bets

In other news, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $4.86, for a total value of $1,215,000.00. Following the completion of the transaction, the chief executive officer now owns 32,724,274 shares of the company’s stock, valued at approximately $159,039,971.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $4.86, for a total value of $1,215,000.00. Following the completion of the transaction, the chief executive officer now owns 32,724,274 shares of the company’s stock, valued at approximately $159,039,971.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Matthew Field sold 13,953 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $4.96, for a total value of $69,206.88. Following the completion of the transaction, the insider now directly owns 269,196 shares of the company’s stock, valued at approximately $1,335,212.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 331,925 shares of company stock worth $1,613,729. 32.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Monterey Private Wealth Inc. bought a new position in Joby Aviation during the 4th quarter valued at approximately $67,000. International Assets Investment Management LLC bought a new position in Joby Aviation during the 4th quarter valued at approximately $73,000. Private Advisor Group LLC purchased a new stake in Joby Aviation during the 4th quarter valued at $77,000. Teza Capital Management LLC purchased a new stake in Joby Aviation during the 3rd quarter valued at $76,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Joby Aviation during the 4th quarter valued at $86,000. 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.