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

Joby Aviation (NYSE:JOBY)‘s stock had its “overweight” rating restated by equities researchers at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They currently have a $10.00 price target on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 107.47% from the stock’s previous close.

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

Joby Aviation Stock Down 5.5 %

Shares of Joby Aviation stock traded down $0.28 during trading hours on Monday, reaching $4.82. 2,872,685 shares of the company’s stock were exchanged, compared to its average volume of 4,998,089. Joby Aviation has a 1 year low of $4.50 and a 1 year high of $11.30. The company has a market capitalization of $3.41 billion, a P/E ratio of -6.34 and a beta of 2.00. The business has a fifty day moving average of $5.03 and a two-hundred day moving average of $5.47.

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

Insider Transactions at Joby Aviation

In related news, insider Didier Papadopoulos sold 11,362 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $4.96, for a total value of $56,355.52. Following the sale, the insider now owns 68,278 shares of the company’s stock, valued at $338,658.88. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Joby Aviation news, insider Eric Allison sold 19,393 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $4.70, for a total value of $91,147.10. Following the transaction, the insider now directly owns 422,592 shares in the company, valued at $1,986,182.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Didier Papadopoulos sold 11,362 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $4.96, for a total transaction of $56,355.52. Following the completion of the transaction, the insider now owns 68,278 shares in the company, valued at $338,658.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,587 shares of company stock valued at $422,792. 32.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds have recently modified their holdings of JOBY. Monterey Private Wealth Inc. acquired a new stake in Joby Aviation in the fourth quarter valued at $67,000. International Assets Investment Management LLC acquired a new stake in Joby Aviation in the fourth quarter valued at $73,000. Private Advisor Group LLC acquired a new stake in Joby Aviation in the fourth quarter valued at $77,000. Teza Capital Management LLC acquired a new stake in Joby Aviation in the third quarter valued at $76,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Joby Aviation in the fourth quarter valued at $86,000. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

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.