Joby Aviation (NYSE:JOBY) Earns Overweight Rating from Cantor Fitzgerald

Joby Aviation (NYSE:JOBY)‘s stock had its “overweight” rating reissued by analysts at Cantor Fitzgerald in a note issued to investors on Thursday,Benzinga reports. They presently have a $9.00 price objective on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 26.83% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Thursday. Canaccord Genuity Group lifted their price target on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. reduced their target price on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.90.

Joby Aviation Trading Up 5.9 %

NYSE:JOBY traded up $0.40 during trading hours on Thursday, hitting $7.10. The stock had a trading volume of 7,751,269 shares, compared to its average volume of 13,400,521. Joby Aviation has a 1-year low of $4.50 and a 1-year high of $10.72. The company has a market cap of $5.43 billion, a PE ratio of -10.11 and a beta of 2.33. The business has a 50 day simple moving average of $8.17 and a two-hundred day simple moving average of $6.71.

Insider Transactions at Joby Aviation

In other news, insider Didier Papadopoulos sold 6,005 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $7.65, for a total value of $45,938.25. Following the sale, the insider now directly owns 54,776 shares of the company’s stock, valued at approximately $419,036.40. This represents a 9.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kate Dehoff sold 6,903 shares of Joby Aviation stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $7.43, for a total transaction of $51,289.29. Following the sale, the insider now directly owns 202,276 shares of the company’s stock, valued at $1,502,910.68. The trade was a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,018,699 shares of company stock valued at $8,628,124 in the last three months. 32.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently made changes to their positions in JOBY. Creative Planning grew its holdings in shares of Joby Aviation by 86.2% during the 3rd quarter. Creative Planning now owns 55,446 shares of the company’s stock worth $279,000 after purchasing an additional 25,672 shares in the last quarter. Private Advisor Group LLC grew its stake in Joby Aviation by 45.3% during the third quarter. Private Advisor Group LLC now owns 34,513 shares of the company’s stock worth $174,000 after buying an additional 10,765 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Joby Aviation by 403.0% in the 3rd quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock valued at $58,000 after buying an additional 9,188 shares during the period. Fullcircle Wealth LLC raised its position in shares of Joby Aviation by 40.0% in the 3rd quarter. Fullcircle Wealth LLC now owns 21,000 shares of the company’s stock valued at $111,000 after buying an additional 6,000 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Joby Aviation by 15.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 266,882 shares of the company’s stock worth $1,342,000 after acquiring an additional 34,866 shares during the period. 52.85% of the stock is currently owned by institutional investors and hedge funds.

About Joby Aviation

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.