Joby Aviation (NYSE:JOBY) Rating Reiterated by Cantor Fitzgerald

Joby Aviation (NYSE:JOBY)‘s stock had its “overweight” rating restated by research analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $10.00 price target on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 94.17% from the stock’s current price.

A number of other analysts have also weighed in on JOBY. HC Wainwright initiated coverage on shares of Joby Aviation in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $9.00 price target for the company. Canaccord Genuity Group reduced their price target on shares of Joby Aviation from $11.00 to $10.50 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th.

Joby Aviation Trading Down 1.3 %

Joby Aviation stock traded down $0.07 during midday trading on Monday, reaching $5.15. 598,837 shares of the stock traded hands, compared to its average volume of 5,485,748. The firm has a fifty day moving average price of $5.30 and a two-hundred day moving average price of $5.21. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of -6.82 and a beta of 1.97. Joby Aviation has a fifty-two week low of $4.50 and a fifty-two week high of $7.69.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.18). The company had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.28 million. During the same period in the prior year, the company posted ($0.17) earnings per share. Analysts anticipate that Joby Aviation will post -0.69 earnings per share for the current year.

Insider Activity at Joby Aviation

In other news, insider Gregory Bowles sold 26,775 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $5.14, for a total transaction of $137,623.50. Following the sale, the insider now owns 18,035 shares in the company, valued at $92,699.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Didier Papadopoulos sold 7,262 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $5.15, for a total transaction of $37,399.30. Following the sale, the insider now owns 65,561 shares in the company, valued at $337,639.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gregory Bowles sold 26,775 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $5.14, for a total transaction of $137,623.50. Following the sale, the insider now owns 18,035 shares in the company, valued at approximately $92,699.90. The disclosure for this sale can be found here. Insiders sold a total of 81,427 shares of company stock valued at $434,590 over the last ninety days. Insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC acquired a new position in Joby Aviation in the 2nd quarter valued at approximately $81,000. EP Wealth Advisors LLC acquired a new position in Joby Aviation in the 2nd quarter valued at approximately $165,000. Algert Global LLC acquired a new position in shares of Joby Aviation during the 2nd quarter worth $90,000. Susquehanna Fundamental Investments LLC increased its stake in shares of Joby Aviation by 1,018.5% during 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 last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Joby Aviation by 28.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 248,275 shares of the company’s stock worth $1,266,000 after purchasing an additional 55,340 shares during the last quarter. 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.