Joby Aviation (NYSE:JOBY) Coverage Initiated at HC Wainwright

Equities researchers at HC Wainwright initiated coverage on shares of Joby Aviation (NYSE:JOBY) in a research note issued on Tuesday, Marketbeat reports. The brokerage set a “buy” rating and a $9.00 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 84.24% from the company’s current price.

A number of other research analysts also recently issued reports on JOBY. Canaccord Genuity Group reduced their price target on shares of Joby Aviation from $11.00 to $10.50 and set a “buy” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their price target on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research report on Monday, August 19th.

Joby Aviation Price Performance

Shares of JOBY stock opened at $4.89 on Tuesday. The firm has a market cap of $3.50 billion, a P/E ratio of -6.43 and a beta of 1.98. Joby Aviation has a 1-year low of $4.50 and a 1-year high of $7.69. The firm has a fifty day moving average of $5.52 and a two-hundred day moving average of $5.26.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, hitting the consensus estimate of ($0.18). The company had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.28 million. During the same period in the prior year, the business earned ($0.17) earnings per share. On average, sell-side analysts expect that Joby Aviation will post -0.69 EPS for the current year.

Insider Activity at Joby Aviation

In related news, insider Matthew Field sold 5,642 shares of Joby Aviation stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $5.19, for a total value of $29,281.98. Following the sale, the insider now directly owns 294,238 shares in the company, valued at approximately $1,527,095.22. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $4.86, for a total transaction of $1,215,000.00. Following the sale, the chief executive officer now directly owns 32,724,274 shares in the company, valued at approximately $159,039,971.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew Field sold 5,642 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $5.19, for a total transaction of $29,281.98. Following the sale, the insider now owns 294,238 shares in the company, valued at $1,527,095.22. The disclosure for this sale can be found here. Insiders have sold a total of 326,032 shares of company stock worth $1,613,336 in the last ninety days. 32.40% of the stock is owned by insiders.

Institutional Trading of Joby Aviation

A number of hedge funds and other institutional investors have recently made changes to their positions in JOBY. New York State Common Retirement Fund grew its stake in shares of Joby Aviation by 8.1% in the 4th quarter. New York State Common Retirement Fund now owns 114,331 shares of the company’s stock worth $760,000 after purchasing an additional 8,595 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Joby Aviation by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,818,603 shares of the company’s stock worth $25,394,000 after purchasing an additional 64,404 shares during the period. Private Advisor Group LLC acquired a new stake in Joby Aviation in the fourth quarter valued at approximately $77,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Joby Aviation by 215.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,682 shares of the company’s stock valued at $1,965,000 after acquiring an additional 270,794 shares during the last quarter. Finally, Apollon Wealth Management LLC acquired a new stake in Joby Aviation in the fourth quarter valued at approximately $88,000. 45.54% of the stock is currently owned by 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.