Joby Aviation’s (JOBY) Buy Rating Reiterated at Canaccord Genuity Group

Joby Aviation (NYSE:JOBY)‘s stock had its “buy” rating reaffirmed by analysts at Canaccord Genuity Group in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $10.50 price target on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 76.47% from the company’s previous close.

Several other research firms have also commented on JOBY. JPMorgan Chase & Co. boosted their price target on shares of Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a report on Monday, September 30th. Finally, HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Wednesday.

Joby Aviation Trading Up 6.1 %

Shares of NYSE JOBY opened at $5.95 on Friday. Joby Aviation has a 52-week low of $4.50 and a 52-week high of $7.69. The stock has a 50 day moving average price of $5.21 and a 200 day moving average price of $5.22.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, hitting the consensus estimate 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 company posted ($0.17) earnings per share. Research analysts predict that Joby Aviation will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In other news, insider Matthew Field sold 5,642 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $5.19, for a total transaction of $29,281.98. Following the completion of the sale, the insider now owns 294,238 shares in the company, valued at approximately $1,527,095.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Matthew Field sold 5,642 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $5.19, for a total value of $29,281.98. Following the completion of the transaction, the insider now directly owns 294,238 shares of the company’s stock, valued at $1,527,095.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joeben Bevirt sold 250,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the sale, the chief executive officer now directly owns 32,674,274 shares in the company, valued at approximately $158,470,228.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 481,976 shares of company stock worth $2,424,045 over the last three months. Corporate insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its holdings in shares of Joby Aviation by 216.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after acquiring an additional 5,840 shares during the last quarter. Integris Wealth Management LLC acquired a new position in shares of Joby Aviation in the 2nd quarter valued at about $54,000. Dakota Wealth Management purchased a new stake in shares of Joby Aviation in the second quarter worth about $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Joby Aviation during the second quarter worth about $57,000. Finally, Choreo LLC purchased a new position in Joby Aviation during the second quarter valued at approximately $60,000. Institutional investors and hedge funds 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.