Joby Aviation (NYSE:JOBY) Rating Reiterated by HC Wainwright

HC Wainwright reissued their buy rating on shares of Joby Aviation (NYSE:JOBY) in a research report sent to investors on Wednesday, Benzinga reports. HC Wainwright currently has a $9.00 price target on the stock.

Several other research firms have also recently commented on JOBY. JPMorgan Chase & Co. lifted their target price on Joby Aviation from $5.00 to $6.00 and gave the company a neutral rating in a research note on Wednesday, July 24th. Cantor Fitzgerald reiterated an overweight rating and issued a $10.00 price target on shares of Joby Aviation in a report on Monday, September 30th. Finally, Canaccord Genuity Group dropped their price objective on Joby Aviation from $11.00 to $10.50 and set a buy rating for the company in a report on Thursday, August 8th.

Joby Aviation Stock Up 6.1 %

Shares of NYSE JOBY opened at $5.95 on Wednesday. The company has a market cap of $4.26 billion, a price-to-earnings ratio of -7.83 and a beta of 1.97. Joby Aviation has a 12-month low of $4.50 and a 12-month high of $7.69. The firm’s 50-day simple moving average is $5.21 and its 200 day simple moving average is $5.22.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, meeting the consensus estimate of ($0.18). The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.28 million. During the same period last year, the company earned ($0.17) earnings per share. On average, equities analysts expect that Joby Aviation will post -0.69 earnings per share for the current year.

Insider Activity

In related news, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the completion of the sale, the chief executive officer now directly owns 32,674,274 shares of the company’s stock, valued at $158,470,228.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Joby Aviation news, Director Paul Cahill Sciarra sold 166,666 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $5.15, for a total value of $858,329.90. Following the completion of the sale, the director now owns 59,828,059 shares of the company’s stock, valued at approximately $308,114,503.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the transaction, the chief executive officer now directly owns 32,674,274 shares in the company, valued at approximately $158,470,228.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 481,976 shares of company stock valued at $2,424,045 in the last 90 days. 32.40% of the stock is owned by company insiders.

Institutional Trading of Joby Aviation

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