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

Cantor Fitzgerald reiterated their overweight rating on shares of Joby Aviation (NYSE:JOBY) in a research report released on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $10.00 price objective on the stock.

JOBY has been the subject of several other research reports. JPMorgan Chase & Co. boosted 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 report on Tuesday, September 3rd. They issued a buy rating and a $9.00 price target for the company. Finally, Canaccord Genuity Group dropped their price target on Joby Aviation from $11.00 to $10.50 and set a buy rating on the stock in a research report on Thursday, August 8th.

Joby Aviation Trading Up 27.9 %

Shares of NYSE JOBY opened at $6.14 on Monday. Joby Aviation has a 12-month low of $4.50 and a 12-month high of $7.69. The stock has a market cap of $4.40 billion, a P/E ratio of -8.08 and a beta of 1.97. The business’s fifty day simple moving average is $5.23 and its 200-day simple moving average is $5.21.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.18). The firm had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.28 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. On average, equities analysts forecast that Joby Aviation will post -0.69 EPS for the current fiscal year.

Insider Transactions at Joby Aviation

In other Joby Aviation news, insider Matthew Field sold 11,766 shares of the business’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 transaction, the insider now owns 299,880 shares in the company, valued at approximately $1,550,379.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Paul Cahill Sciarra sold 166,666 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $5.15, for a total value of $858,329.90. Following the completion of the transaction, the director now directly owns 59,828,059 shares of the company’s stock, valued at approximately $308,114,503.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matthew Field sold 11,766 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $5.17, for a total transaction of $60,830.22. Following the completion of the sale, 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. Insiders have sold a total of 490,831 shares of company stock worth $2,468,020 over the last ninety days. 32.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new position in shares of Joby Aviation in the second quarter valued at approximately $81,000. EP Wealth Advisors LLC acquired a new stake in shares of Joby Aviation during the 2nd quarter worth $165,000. Algert Global LLC purchased a new position in shares of Joby Aviation in the 2nd quarter worth $90,000. Susquehanna Fundamental Investments LLC raised its holdings in shares of Joby Aviation by 1,018.5% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock worth $3,453,000 after purchasing an additional 616,579 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Joby Aviation by 28.7% during the second quarter. The Manufacturers Life Insurance Company now owns 248,275 shares of the company’s stock valued at $1,266,000 after buying an additional 55,340 shares in the last quarter. 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.