Joby Aviation (NYSE:JOBY) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Joby Aviation (NYSE:JOBY) in a report issued on Monday morning, Benzinga reports. The firm currently has a $10.00 price objective on the stock.

JOBY has been the subject of several other reports. Canaccord Genuity Group lowered their price objective on Joby Aviation from $11.00 to $10.50 and set a buy rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective on Joby Aviation from $5.00 to $6.00 and gave the company a neutral rating in a research note on Wednesday, July 24th.

Joby Aviation Stock Performance

NYSE JOBY opened at $5.24 on Monday. Joby Aviation has a 52 week low of $4.50 and a 52 week high of $7.69. The business has a 50 day moving average price of $5.51 and a 200-day moving average price of $5.32.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, meeting analysts’ consensus estimates of ($0.18). The business had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.28 million. During the same quarter last year, the firm posted ($0.17) EPS. Equities research analysts forecast that Joby Aviation will post -0.69 EPS for the current year.

Insider Transactions at Joby Aviation

In related news, insider Kate Dehoff sold 12,500 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $5.50, for a total transaction of $68,750.00. Following the completion of the transaction, the insider now owns 189,163 shares in the company, valued at $1,040,396.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Joby Aviation news, insider Kate Dehoff sold 12,500 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $5.50, for a total transaction of $68,750.00. Following the completion of the transaction, the insider now directly owns 189,163 shares of the company’s stock, valued at $1,040,396.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Matthew Field sold 5,642 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $5.19, for a total value of $29,281.98. Following the completion of 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 326,032 shares of company stock worth $1,613,336 in the last ninety days. Company insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC lifted its stake in shares of Joby Aviation by 216.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after buying an additional 5,840 shares in the last quarter. Integris Wealth Management LLC purchased a new stake in shares of Joby Aviation during the second quarter worth $54,000. Dakota Wealth Management bought a new position in shares of Joby Aviation in the second quarter worth $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Joby Aviation in the second quarter valued at $57,000. Finally, Choreo LLC bought a new stake in shares of Joby Aviation during the 2nd quarter valued at $60,000. Institutional investors own 45.54% 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.