Cantor Fitzgerald Reiterates Overweight Rating for Joby Aviation (NYSE:JOBY)

Cantor Fitzgerald reissued their overweight rating on shares of Joby Aviation (NYSE:JOBY) in a research report released on Thursday morning,Benzinga reports. Cantor Fitzgerald currently has a $9.00 price target on the stock.

Several other analysts also recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research note on Thursday. Needham & Company LLC restated a “buy” rating and set a $10.00 price objective on shares of Joby Aviation in a research note on Thursday. Canaccord Genuity Group lifted their price objective on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a 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 research note on Thursday. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $8.90.

Joby Aviation Trading Up 1.0 %

JOBY opened at $6.77 on Thursday. Joby Aviation has a twelve month low of $4.50 and a twelve month high of $10.72. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of -9.66 and a beta of 2.33. The company has a fifty day simple moving average of $8.16 and a 200 day simple moving average of $6.71.

Insiders Place Their Bets

In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $9.84, for a total value of $2,460,000.00. Following the transaction, the chief executive officer now owns 32,325,793 shares of the company’s stock, valued at $318,085,803.12. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Didier Papadopoulos sold 7,692 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $10.00, for a total value of $76,920.00. Following the completion of the sale, the insider now directly owns 50,902 shares in the company, valued at $509,020. This represents a 13.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,018,699 shares of company stock valued at $8,628,124 in the last quarter. Insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

Several large investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC bought a new position in shares of Joby Aviation in the third quarter worth $518,000. Rheos Capital Works Inc. lifted its holdings in Joby Aviation by 17.0% in the fourth quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company’s stock worth $19,553,000 after purchasing an additional 350,000 shares during the period. Fred Alger Management LLC grew its position in Joby Aviation by 89.4% in the 3rd quarter. Fred Alger Management LLC now owns 123,368 shares of the company’s stock valued at $621,000 after buying an additional 58,229 shares in the last quarter. Hamilton Lane Advisors LLC acquired a new position in Joby Aviation during the 4th quarter valued at about $418,000. Finally, Entropy Technologies LP bought a new stake in shares of Joby Aviation during the 4th quarter worth about $300,000. 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.