Joby Aviation (NYSE:JOBY) Stock Keeps “Buy” Rating at HC Wainwright

Joby Aviation (NYSE:JOBY – Get Free Report)‘s stock had its “buy” rating restated by HC Wainwright in a research note issued on Monday, September 21st, Benzinga reports. They presently have a $18.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 194.74% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Needham & Company LLC decreased their price target on shares of Joby Aviation from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Barclays raised shares of Joby Aviation to a “hold” rating in a report on Wednesday, July 29th. Weiss Ratings raised shares of Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Susquehanna set a $18.00 target price on shares of Joby Aviation in a report on Thursday, August 6th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Joby Aviation in a report on Monday, September 21st. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Joby Aviation presently has a consensus rating of “Reduce” and a consensus price target of $13.81.

Read Our Latest Analysis on JOBY

Joby Aviation Price Performance

Shares of JOBY stock traded down $0.21 on Monday, reaching $6.11. The stock had a trading volume of 22,545,354 shares, compared to its average volume of 24,381,368. The company has a quick ratio of 17.98, a current ratio of 17.98 and a debt-to-equity ratio of 0.40. The firm’s 50-day moving average is $7.13 and its two-hundred day moving average is $8.57. Joby Aviation has a 12 month low of $5.93 and a 12 month high of $19.98.

Joby Aviation (NYSE:JOBY – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). The firm had revenue of $38.64 million during the quarter, compared to the consensus estimate of $30.20 million. Joby Aviation had a negative net margin of 755.11% and a negative return on equity of 55.29%. The firm’s revenue for the quarter was up 257493.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.41) earnings per share. On average, equities research analysts predict that Joby Aviation will post -1 earnings per share for the current year.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, CEO JoeBen Bevirt sold 606,667 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $6.19, for a total value of $3,755,268.73. Following the sale, the chief executive officer owned 57,207,377 shares in the company, valued at $354,113,663.63. This trade represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Sciarra sold 62,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $6.68, for a total transaction of $417,500.00. Following the completion of the sale, the director owned 55,703,057 shares in the company, valued at $372,096,420.76. This represents a 0.11% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 911,140 shares of company stock worth $6,076,113 in the last three months. Company insiders own 20.35% of the company’s stock.

Institutional Trading of Joby Aviation

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Joby Aviation by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 11,790,532 shares of the company’s stock valued at $155,671,000 after buying an additional 390,794 shares in the last quarter. Renaissance Technologies LLC boosted its position in Joby Aviation by 194.5% in the first quarter. Renaissance Technologies LLC now owns 4,005,200 shares of the company’s stock valued at $33,083,000 after buying an additional 2,645,200 shares in the last quarter. Clear Street Group Inc. boosted its position in Joby Aviation by 59.9% in the fourth quarter. Clear Street Group Inc. now owns 3,593,043 shares of the company’s stock valued at $47,428,000 after buying an additional 1,346,205 shares in the last quarter. Lingotto Investment Management LLP boosted its position in Joby Aviation by 34.2% in the fourth quarter. Lingotto Investment Management LLP now owns 3,138,240 shares of the company’s stock valued at $41,425,000 after buying an additional 799,260 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in Joby Aviation by 48.1% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,679,515 shares of the company’s stock valued at $22,133,000 after buying an additional 870,244 shares in the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

About Joby Aviation

(Get Free Report)

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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Analyst Recommendations for Joby Aviation (NYSE:JOBY)

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