Joby Aviation (NYSE:JOBY) Lowered to “Neutral” Rating by Cantor Fitzgerald

Cantor Fitzgerald downgraded shares of Joby Aviation (NYSE:JOBY) from an overweight rating to a neutral rating in a research report sent to investors on Thursday morning, MarketBeat reports. Cantor Fitzgerald currently has $9.00 target price on the stock. Cantor Fitzgerald also issued estimates for Joby Aviation’s FY2026 earnings at ($0.84) EPS.

A number of other equities research analysts have also issued reports on JOBY. Canaccord Genuity Group reissued a “buy” rating and issued a $12.00 target price on shares of Joby Aviation in a research report on Wednesday, June 4th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. 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 research note on Thursday, February 27th. HC Wainwright restated a “buy” rating and issued a $13.00 price target (up from $9.00) on shares of Joby Aviation in a research note on Monday. Finally, Morgan Stanley restated an “equal weight” rating and issued a $7.00 price target (down from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Joby Aviation presently has a consensus rating of “Hold” and an average price target of $9.33.

Joby Aviation Trading Down 8.3%

Shares of JOBY opened at $8.83 on Thursday. Joby Aviation has a 1 year low of $4.66 and a 1 year high of $10.72. The stock has a market cap of $6.99 billion, a P/E ratio of -12.61 and a beta of 2.39. The stock’s 50-day moving average price is $6.90 and its two-hundred day moving average price is $7.37.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter in the previous year, the firm posted ($0.14) EPS. As a group, equities analysts forecast that Joby Aviation will post -0.69 EPS for the current year.

Insider Transactions at Joby Aviation

In other news, Director Motor Corp/ Toyota bought 49,701,790 shares of the stock in a transaction on Thursday, May 22nd. The stock was acquired at an average price of $5.03 per share, with a total value of $250,000,003.70. Following the acquisition, the director now directly owns 122,573,621 shares in the company, valued at approximately $616,545,313.63. This trade represents a 68.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joeben Bevirt sold 101,652 shares of the company’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $6.66, for a total value of $677,002.32. Following the completion of the transaction, the chief executive officer now directly owns 60,526,762 shares of the company’s stock, valued at approximately $403,108,234.92. The trade was a 0.17% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 750,950 shares of company stock valued at $4,640,619. Corporate insiders own 28.50% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC boosted its position in shares of Joby Aviation by 9.9% during the 4th quarter. NewEdge Advisors LLC now owns 21,505 shares of the company’s stock valued at $175,000 after purchasing an additional 1,935 shares in the last quarter. Xponance Inc. raised its stake in shares of Joby Aviation by 6.5% in the first quarter. Xponance Inc. now owns 32,635 shares of the company’s stock worth $196,000 after purchasing an additional 1,993 shares during the last quarter. Gallagher Fiduciary Advisors LLC raised its stake in shares of Joby Aviation by 3.1% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 66,800 shares of the company’s stock worth $543,000 after purchasing an additional 2,000 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Joby Aviation by 1.1% in the fourth quarter. California State Teachers Retirement System now owns 186,003 shares of the company’s stock worth $1,512,000 after purchasing an additional 2,065 shares during the last quarter. Finally, Private Advisor Group LLC increased its position in shares of Joby Aviation by 6.6% during the fourth quarter. Private Advisor Group LLC now owns 36,774 shares of the company’s stock valued at $299,000 after acquiring an additional 2,261 shares during the last quarter. Institutional investors own 52.85% of the company’s stock.

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.