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

HC Wainwright reissued their buy rating on shares of Joby Aviation (NYSE:JOBYFree Report) in a research note published on Wednesday,Benzinga reports. HC Wainwright currently has a $9.00 price objective on the stock.

Several other equities research analysts have also recently weighed in on JOBY. Needham & Company LLC initiated coverage on Joby Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $8.00 price target for the company. JPMorgan Chase & Co. decreased their target price on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday, October 29th. Canaccord Genuity Group dropped their price target on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a research note on Monday, September 30th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.35.

View Our Latest Report on JOBY

Joby Aviation Stock Down 6.2 %

NYSE JOBY traded down $0.49 on Wednesday, hitting $7.45. The company’s stock had a trading volume of 10,626,525 shares, compared to its average volume of 8,728,340. The company’s 50-day moving average is $6.54 and its 200 day moving average is $5.77. The firm has a market cap of $5.70 billion, a PE ratio of -10.64 and a beta of 2.32. Joby Aviation has a 1-year low of $4.50 and a 1-year high of $9.33.

Joby Aviation (NYSE:JOBYGet Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The business had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.06 million. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same period in the prior year, the firm earned ($0.13) EPS. On average, equities analysts expect that Joby Aviation will post -0.69 EPS for the current year.

Insider Buying and Selling

In other Joby Aviation news, insider Didier Papadopoulos sold 6,005 shares of Joby Aviation stock in a transaction on Monday, December 16th. The shares were sold at an average price of $7.65, for a total value of $45,938.25. Following the completion of the sale, the insider now directly owns 54,776 shares of the company’s stock, valued at approximately $419,036.40. The trade was a 9.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the transaction, the chief executive officer now directly owns 32,674,274 shares in the company, valued at $158,470,228.90. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 535,506 shares of company stock valued at $2,759,533 over the last 90 days. Company insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its stake in shares of Joby Aviation by 13.7% in the third quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock valued at $147,000 after buying an additional 3,522 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Joby Aviation by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after acquiring an additional 670,852 shares during the last quarter. Kensington Investment Counsel LLC raised its holdings in shares of Joby Aviation by 12.0% in the 3rd quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock worth $172,000 after acquiring an additional 3,653 shares during the last quarter. EP Wealth Advisors LLC lifted its position in Joby Aviation by 15.4% in the 3rd quarter. EP Wealth Advisors LLC now owns 37,369 shares of the company’s stock valued at $188,000 after acquiring an additional 5,000 shares in the last quarter. Finally, State Street Corp boosted its stake in Joby Aviation by 9.5% during the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after purchasing an additional 812,248 shares during the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

Joby Aviation Company Profile

(Get Free Report)

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.

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