Joby Aviation (NYSE:JOBY) Given New $5.00 Price Target at JPMorgan Chase & Co.

Joby Aviation (NYSE:JOBY) had its price objective decreased by JPMorgan Chase & Co. from $6.00 to $5.00 in a research note published on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other analysts have also recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th. Canaccord Genuity Group dropped their price objective on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a report on Tuesday. Finally, HC Wainwright reiterated a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, October 2nd.

Joby Aviation Price Performance

Shares of NYSE:JOBY opened at $5.01 on Tuesday. Joby Aviation has a 1 year low of $4.50 and a 1 year high of $7.69. The business’s 50 day moving average price is $5.32 and its 200-day moving average price is $5.29. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of -10.21 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, meeting the consensus estimate 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 business posted ($0.17) EPS. On average, sell-side analysts expect that Joby Aviation will post -0.69 earnings per share for the current year.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Kate Dehoff sold 27,898 shares of Joby Aviation stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $5.50, for a total value of $153,439.00. Following the completion of the sale, the insider now directly owns 199,413 shares of the company’s stock, valued at approximately $1,096,771.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Eric Allison sold 27,817 shares of Joby Aviation stock in a transaction on Monday, October 14th. The shares were sold at an average price of $5.56, for a total transaction of $154,662.52. Following the sale, the insider now owns 463,151 shares of the company’s stock, valued at $2,575,119.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kate Dehoff sold 27,898 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $5.50, for a total value of $153,439.00. Following the completion of the transaction, the insider now directly owns 199,413 shares in the company, valued at approximately $1,096,771.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 525,499 shares of company stock valued at $2,667,151. 32.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its stake in Joby Aviation by 216.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after buying an additional 5,840 shares during the last quarter. Sound Income Strategies LLC lifted its position in Joby Aviation by 3,311.3% in the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock worth $52,000 after purchasing an additional 10,000 shares during the period. Integris Wealth Management LLC acquired a new stake in shares of Joby Aviation in the second quarter valued at $54,000. Dakota Wealth Management acquired a new stake in Joby Aviation in the 2nd quarter valued at about $56,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Joby Aviation during the second quarter worth approximately $57,000. 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.