Joby Aviation (NYSE:JOBY) Given “Overweight” Rating at Cantor Fitzgerald

Joby Aviation (NYSE:JOBY)‘s stock had its “overweight” rating reiterated by investment analysts at Cantor Fitzgerald in a research note issued to investors on Thursday,Benzinga reports. They currently have a $9.00 target price on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 26.83% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a report on Thursday. JPMorgan Chase & Co. reduced their price objective on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a research note on Thursday. Needham & Company LLC restated a “buy” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Thursday. Finally, Canaccord Genuity Group increased their target price on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $8.90.

Joby Aviation Trading Up 5.9 %

Shares of JOBY stock traded up $0.40 on Thursday, reaching $7.10. 7,751,269 shares of the company’s stock were exchanged, compared to its average volume of 13,400,521. Joby Aviation has a 52 week low of $4.50 and a 52 week high of $10.72. The company’s fifty day simple moving average is $8.17 and its 200 day simple moving average is $6.71. The stock has a market capitalization of $5.43 billion, a PE ratio of -10.11 and a beta of 2.33.

Insider Activity

In other Joby Aviation news, insider Didier Papadopoulos sold 6,005 shares of the firm’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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul Cahill Sciarra sold 333,334 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $8.02, for a total transaction of $2,673,338.68. Following the completion of the transaction, the director now owns 58,661,395 shares of the company’s stock, valued at approximately $470,464,387.90. The trade was a 0.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,018,699 shares of company stock valued at $8,628,124. 32.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Intech Investment Management LLC acquired a new position in shares of Joby Aviation during the 3rd quarter worth approximately $518,000. Rheos Capital Works Inc. boosted its stake in shares of Joby Aviation by 17.0% during the 4th 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 last quarter. Fred Alger Management LLC grew its stake in Joby Aviation by 89.4% in the 3rd quarter. Fred Alger Management LLC now owns 123,368 shares of the company’s stock worth $621,000 after acquiring an additional 58,229 shares during the period. Hamilton Lane Advisors LLC acquired a new position in Joby Aviation in the fourth quarter valued at $418,000. Finally, Entropy Technologies LP purchased a new position in Joby Aviation during the fourth quarter worth about $300,000. 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.