HC Wainwright Reiterates “Buy” Rating for Joby Aviation (NYSE:JOBY)

Joby Aviation (NYSE:JOBY)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They currently have a $9.00 target price on the stock. HC Wainwright’s price target points to a potential upside of 35.03% from the company’s current price.

Several other equities research analysts have also issued reports on JOBY. JPMorgan Chase & Co. lowered their target price on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of Joby Aviation in a report on Thursday. Finally, Canaccord Genuity Group raised their price objective on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $9.10.

Joby Aviation Price Performance

JOBY opened at $6.67 on Thursday. The firm has a fifty day moving average price of $8.17 and a 200 day moving average price of $6.71. Joby Aviation has a 1 year low of $4.50 and a 1 year high of $10.72. The stock has a market cap of $5.10 billion, a P/E ratio of -9.52 and a beta of 2.33.

Insider Buying and Selling

In other Joby Aviation news, insider Kate Dehoff sold 6,903 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $7.43, for a total value of $51,289.29. Following the completion of the sale, the insider now owns 202,276 shares in the company, valued at approximately $1,502,910.68. This represents a 3.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Didier Papadopoulos sold 6,005 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $7.65, for a total value of $45,938.25. Following the transaction, the insider now directly owns 54,776 shares in the company, valued at $419,036.40. This trade represents a 9.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,018,699 shares of company stock worth $8,628,124 in the last 90 days. Insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JOBY. Bouvel Investment Partners LLC boosted its stake in Joby Aviation by 1.4% during the fourth quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company’s stock worth $1,007,000 after buying an additional 1,715 shares during the period. NewEdge Advisors LLC increased its holdings in Joby Aviation by 9.9% during the 4th quarter. NewEdge Advisors LLC now owns 21,505 shares of the company’s stock worth $175,000 after purchasing an additional 1,935 shares during the period. Gallagher Fiduciary Advisors LLC raised its position in Joby Aviation by 3.1% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 66,800 shares of the company’s stock valued at $543,000 after purchasing an additional 2,000 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Joby Aviation by 6.6% in the 4th quarter. Private Advisor Group LLC now owns 36,774 shares of the company’s stock valued at $299,000 after buying an additional 2,261 shares during the period. Finally, Larson Financial Group LLC boosted its stake in shares of Joby Aviation by 35.3% in the 4th quarter. Larson Financial Group LLC now owns 9,864 shares of the company’s stock valued at $80,000 after buying an additional 2,574 shares during the period. Institutional investors and hedge funds own 52.85% 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.