Joby Aviation (NYSE:JOBY) Stock Rating Reaffirmed by Cantor Fitzgerald

Joby Aviation (NYSE:JOBY)‘s stock had its “overweight” rating reaffirmed by research analysts at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They presently have a $10.00 price target on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 100.00% from the stock’s current price.

Separately, JPMorgan Chase & Co. raised shares of Joby Aviation from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a research report on Friday, May 3rd.

Joby Aviation Trading Up 1.6 %

NYSE JOBY opened at $5.00 on Monday. The company has a fifty day simple moving average of $4.98 and a 200 day simple moving average of $5.55. Joby Aviation has a 12-month low of $4.50 and a 12-month high of $11.98. The company has a market cap of $3.54 billion, a P/E ratio of -6.58 and a beta of 2.00.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.03. The business had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.05 million. During the same period in the previous year, the business posted ($0.16) EPS. The business’s revenue for the quarter was down 97.5% compared to the same quarter last year. Sell-side analysts predict that Joby Aviation will post -0.69 EPS for the current year.

Insider Transactions at Joby Aviation

In other news, insider Matthew Field sold 13,953 shares of Joby Aviation stock in a transaction on Monday, May 20th. The stock was sold at an average price of $4.96, for a total transaction of $69,206.88. Following the sale, the insider now directly owns 269,196 shares in the company, valued at approximately $1,335,212.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Joby Aviation news, CEO Joeben Bevirt sold 5,448 shares of Joby Aviation stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $4.64, for a total transaction of $25,278.72. Following the completion of the transaction, the chief executive officer now owns 662,605 shares of the company’s stock, valued at approximately $3,074,487.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew Field sold 13,953 shares of Joby Aviation stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $4.96, for a total value of $69,206.88. Following 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. Insiders have sold 336,587 shares of company stock worth $1,717,792 in the last ninety days. Company insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of JOBY. Sittner & Nelson LLC grew its holdings in shares of Joby Aviation by 100.0% during the third quarter. Sittner & Nelson LLC now owns 4,000 shares of the company’s stock worth $26,000 after purchasing an additional 2,000 shares in the last quarter. Monterey Private Wealth Inc. bought a new stake in Joby Aviation in the 4th quarter worth approximately $67,000. International Assets Investment Management LLC bought a new stake in Joby Aviation in the 4th quarter worth approximately $73,000. Teza Capital Management LLC bought a new stake in Joby Aviation in the 3rd quarter worth approximately $76,000. Finally, Private Advisor Group LLC bought a new stake in Joby Aviation in the 4th quarter worth approximately $77,000. Hedge funds and other institutional investors 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.