Joby Aviation, Inc. (NYSE:JOBY) Receives Average Rating of "Hold" from Brokerages

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) has been given an average recommendation of "Hold" by the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $9.33.

JOBY has been the topic of several research analyst reports. Morgan Stanley reaffirmed an "equal weight" rating and issued a $7.00 price objective (down from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. Needham & Company LLC reissued a "buy" rating and issued a $10.00 price objective on shares of Joby Aviation in a research report on Thursday, February 27th. HC Wainwright restated a "buy" rating and set a $13.00 target price (up previously from $9.00) on shares of Joby Aviation in a report on Monday, June 9th. Canaccord Genuity Group reissued a "buy" rating and issued a $12.00 price objective on shares of Joby Aviation in a research report on Wednesday, June 4th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Monday.

Insider Transactions at Joby Aviation

In other news, Director Paul Cahill Sciarra sold 166,667 shares of the business's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $5.73, for a total value of $955,001.91. Following the completion of the sale, the director now owns 58,328,061 shares of the company's stock, valued at approximately $334,219,789.53. The trade was a 0.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kate Dehoff sold 9,720 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $6.00, for a total transaction of $58,320.00. Following the completion of the sale, the insider now owns 219,366 shares in the company, valued at approximately $1,316,196. This trade represents a 4.24% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 579,271 shares of company stock valued at $3,486,563. 32.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds have recently bought and sold shares of the company. Rhumbline Advisers lifted its holdings in Joby Aviation by 5.4% during the 1st quarter. Rhumbline Advisers now owns 626,743 shares of the company's stock worth $3,773,000 after buying an additional 32,324 shares during the last quarter. Strs Ohio acquired a new stake in shares of Joby Aviation in the 1st quarter worth about $37,000. Intech Investment Management LLC boosted its stake in Joby Aviation by 70.4% during the 1st quarter. Intech Investment Management LLC now owns 307,135 shares of the company's stock valued at $1,849,000 after purchasing an additional 126,908 shares during the period. Integrity Alliance LLC. bought a new position in Joby Aviation in the 1st quarter worth about $124,000. Finally, PharVision Advisers LLC bought a new stake in Joby Aviation during the 1st quarter valued at $61,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Joby Aviation Price Performance

NYSE:JOBY opened at $8.85 on Wednesday. Joby Aviation has a 1-year low of $4.66 and a 1-year high of $10.72. The firm's fifty day moving average price is $7.36 and its 200 day moving average price is $7.39. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of -10.53 and a beta of 2.39.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating 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 prior year, the business posted ($0.14) earnings per share. As a group, analysts expect that Joby Aviation will post -0.69 earnings per share 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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