Joby Aviation (NYSE:JOBY) PT Raised to $6.00 at JPMorgan Chase & Co.

Joby Aviation (NYSE:JOBY) had its price target lifted by JPMorgan Chase & Co. from $5.00 to $6.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

Separately, Cantor Fitzgerald reiterated an overweight rating and issued a $10.00 price target on shares of Joby Aviation in a research report on Monday, July 22nd.

Joby Aviation Trading Up 1.9 %

Shares of NYSE JOBY opened at $6.30 on Wednesday. The firm has a 50 day moving average of $5.39 and a 200 day moving average of $5.39. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of -8.29 and a beta of 2.00. Joby Aviation has a 12-month low of $4.50 and a 12-month high of $8.98.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.03. The business had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.05 million. The business’s quarterly revenue was down 97.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.16) earnings per share. Sell-side analysts predict that Joby Aviation will post -0.69 EPS for the current year.

Insider Buying and Selling

In related news, insider Didier Papadopoulos sold 23,188 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $4.86, for a total transaction of $112,693.68. Following the completion of the transaction, the insider now owns 54,666 shares in the company, valued at $265,676.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 32,724,274 shares in the company, valued at $159,039,971.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Didier Papadopoulos sold 23,188 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $4.86, for a total transaction of $112,693.68. Following the sale, the insider now directly owns 54,666 shares in the company, valued at approximately $265,676.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 345,982 shares of company stock worth $1,713,310. 32.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Joby Aviation

A number of hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. raised its stake in Joby Aviation by 10.3% during the fourth quarter. Baillie Gifford & Co. now owns 56,320,441 shares of the company’s stock valued at $374,531,000 after purchasing an additional 5,267,436 shares in the last quarter. Vanguard Group Inc. raised its stake in Joby Aviation by 9.1% during the first quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock valued at $185,776,000 after purchasing an additional 2,889,012 shares in the last quarter. 8VC GP I LLC purchased a new stake in Joby Aviation during the fourth quarter valued at $95,727,000. Charles Schwab Investment Management Inc. raised its stake in 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 valued at $25,394,000 after purchasing an additional 64,404 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Joby Aviation in the first quarter valued at $15,357,000. Hedge funds and other institutional investors 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.