Joby Aviation, Inc. (NYSE:JOBY) Given Consensus Rating of "Hold" by Brokerages

Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) have received an average rating of "Hold" from the six brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $9.33.

A number of equities analysts recently issued reports on the stock. Morgan Stanley reiterated an "equal weight" rating and issued a $7.00 target price (down previously from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. Wall Street Zen upgraded shares of Joby Aviation from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Canaccord Genuity Group reiterated a "buy" rating and issued a $12.00 target price on shares of Joby Aviation in a report on Wednesday, June 4th. HC Wainwright restated a "buy" rating and set a $13.00 price target (up from $9.00) on shares of Joby Aviation in a report on Monday, June 9th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $9.00 price target on shares of Joby Aviation in a report on Monday, June 23rd.

Insiders Place Their Bets

In other Joby Aviation news, insider Eric Allison sold 27,538 shares of Joby Aviation stock in a transaction on Monday, July 14th. The shares were sold at an average price of $11.97, for a total transaction of $329,629.86. Following the sale, the insider owned 660,076 shares in the company, valued at $7,901,109.72. The trade was a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul Cahill Sciarra sold 500,001 shares of Joby Aviation stock in a transaction on Monday, July 14th. The stock was sold at an average price of $12.38, for a total transaction of $6,190,012.38. Following the sale, the director owned 57,328,059 shares in the company, valued at $709,721,370.42. This represents a 0.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,034,320 shares of company stock valued at $20,211,444 in the last 90 days. 28.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently made changes to their positions in JOBY. NewEdge Advisors LLC raised its holdings in shares of Joby Aviation by 9.9% in the fourth quarter. NewEdge Advisors LLC now owns 21,505 shares of the company's stock valued at $175,000 after buying an additional 1,935 shares during the last quarter. Xponance Inc. raised its holdings in shares of Joby Aviation by 6.5% in the first quarter. Xponance Inc. now owns 32,635 shares of the company's stock valued at $196,000 after buying an additional 1,993 shares during the last quarter. Gallagher Fiduciary Advisors LLC raised its holdings in shares of Joby Aviation by 3.1% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 66,800 shares of the company's stock valued at $543,000 after buying an additional 2,000 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Joby Aviation by 1.1% in the fourth quarter. California State Teachers Retirement System now owns 186,003 shares of the company's stock valued at $1,512,000 after buying an additional 2,065 shares during the last quarter. Finally, Brown Advisory Inc. raised its holdings in shares of Joby Aviation by 23.6% in the first quarter. Brown Advisory Inc. now owns 13,905 shares of the company's stock valued at $84,000 after buying an additional 2,655 shares during the last quarter. Institutional investors and hedge funds own 52.85% of the company's stock.

Joby Aviation Trading Up 0.4%

Shares of NYSE:JOBY opened at $17.79 on Friday. The company has a fifty day simple moving average of $9.40 and a 200 day simple moving average of $7.87. The firm has a market cap of $14.09 billion, a PE ratio of -21.18 and a beta of 2.47. Joby Aviation has a 12-month low of $4.66 and a 12-month high of $18.33.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative net margin of 447,083.78% and a negative return on equity of 63.27%. During the same quarter in the previous year, the business earned ($0.14) EPS. As a group, equities research analysts forecast that Joby Aviation will post -0.69 EPS for the current fiscal year.

Joby Aviation Company Profile

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.

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