Joby Aviation’s (JOBY) Buy Rating Reiterated at HC Wainwright

Joby Aviation (NYSE:JOBY)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They currently have a $9.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 50.00% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on JOBY. Canaccord Genuity Group decreased their target price on Joby Aviation from $11.00 to $10.50 and set a “buy” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a research note on Monday.

Joby Aviation Trading Up 25.0 %

JOBY stock traded up $1.20 during trading on Wednesday, hitting $6.00. 36,894,008 shares of the company’s stock were exchanged, compared to its average volume of 5,668,637. The business has a 50-day moving average price of $5.23 and a two-hundred day moving average price of $5.21. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of -7.89 and a beta of 1.97. Joby Aviation has a 52-week low of $4.50 and a 52-week high of $7.69.

Joby Aviation (NYSE:JOBY) last posted 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 business had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.28 million. During the same quarter in the previous year, the firm earned ($0.17) EPS. On average, equities research analysts anticipate that Joby Aviation will post -0.69 earnings per share for the current fiscal year.

Insider Activity at Joby Aviation

In related news, insider Gregory Bowles sold 26,775 shares of the stock in a transaction on Monday, September 23rd. The stock was 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 of the company’s stock, valued at $92,699.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Didier Papadopoulos sold 6,025 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $5.33, for a total value of $32,113.25. Following the transaction, the insider now directly owns 47,474 shares in the company, valued at approximately $253,036.42. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gregory Bowles sold 26,775 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $5.14, for a total value of $137,623.50. Following the completion of the transaction, the insider now owns 18,035 shares in the company, valued at $92,699.90. The disclosure for this sale can be found here. Insiders have sold a total of 74,165 shares of company stock valued at $397,190 over the last quarter. Insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Joby Aviation by 9.1% in the first quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock valued at $185,776,000 after buying an additional 2,889,012 shares in the last quarter. Ieq Capital LLC grew its stake in shares of Joby Aviation by 68.6% in the second quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock valued at $22,652,000 after buying an additional 1,807,054 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Joby Aviation in the first quarter valued at about $15,357,000. Bank of New York Mellon Corp grew its stake in shares of Joby Aviation by 41.8% in the second quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock valued at $7,521,000 after buying an additional 435,069 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC grew its stake in shares of Joby Aviation by 1,018.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after buying an additional 616,579 shares in the last quarter. 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.