Joby Aviation (NYSE:JOBY – Get Free Report)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a note issued to investors on Monday, Benzinga reports. They presently have a $18.00 target price on the stock. HC Wainwright’s target price indicates a potential upside of 182.49% from the stock’s current price.
JOBY has been the topic of several other research reports. Cantor Fitzgerald restated a “neutral” rating on shares of Joby Aviation in a report on Monday. Susquehanna set a $18.00 price target on shares of Joby Aviation in a report on Thursday, August 6th. Weiss Ratings raised shares of Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Wall Street Zen lowered shares of Joby Aviation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Finally, Barclays upgraded shares of Joby Aviation to a “hold” rating in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Joby Aviation currently has a consensus rating of “Reduce” and an average target price of $13.81.
View Our Latest Report on Joby Aviation
Joby Aviation Trading Up 4.1%
Joby Aviation (NYSE:JOBY – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The company had revenue of $38.64 million for the quarter, compared to the consensus estimate of $30.20 million. Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%.Joby Aviation’s revenue was up 257493.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.41) earnings per share. On average, equities research analysts anticipate that Joby Aviation will post -1 earnings per share for the current year.
Insider Activity
In related news, Director Paul Sciarra sold 62,500 shares of Joby Aviation stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $7.96, for a total value of $497,500.00. Following the sale, the director owned 55,765,557 shares in the company, valued at $443,893,833.72. The trade was a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kate Dehoff sold 14,240 shares of the business’s stock in a transaction on Tuesday, July 14th. The shares were sold at an average price of $7.73, for a total transaction of $110,075.20. Following the transaction, the insider directly owned 180,179 shares in the company, valued at approximately $1,392,783.67. The trade was a 7.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 905,002 shares of company stock valued at $6,037,136. 20.35% of the stock is owned by insiders.
Hedge Funds Weigh In On Joby Aviation
A number of institutional investors have recently bought and sold shares of JOBY. Strs Ohio grew its holdings in Joby Aviation by 2.5% in the first quarter. Strs Ohio now owns 50,000 shares of the company’s stock worth $413,000 after purchasing an additional 1,200 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Joby Aviation by 11.1% during the first quarter. PNC Financial Services Group Inc. now owns 15,304 shares of the company’s stock valued at $126,000 after purchasing an additional 1,532 shares during the last quarter. RFG Advisory LLC lifted its holdings in shares of Joby Aviation by 12.3% during the first quarter. RFG Advisory LLC now owns 14,004 shares of the company’s stock valued at $116,000 after purchasing an additional 1,539 shares during the last quarter. IPG Investment Advisors LLC boosted its position in shares of Joby Aviation by 16.4% in the 4th quarter. IPG Investment Advisors LLC now owns 13,150 shares of the company’s stock worth $174,000 after purchasing an additional 1,850 shares in the last quarter. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of Joby Aviation in the 4th quarter worth approximately $28,000. 52.85% of the stock is owned by institutional investors.
Joby Aviation Company Profile
Joby Aviation, Inc develops electric vertical takeoff and landing (eVTOL) aircraft intended to support commercial air-taxi services. Its aircraft are designed to take off and land vertically like helicopters while traveling with the speed and range of conventional aircraft, with the goal of providing quieter, lower-emission transportation for urban and regional journeys.
The company is pursuing an integrated business model that includes designing and manufacturing its aircraft, operating air-taxi services, and providing related technology and infrastructure.
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