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

Joby Aviation (NYSE:JOBY - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $9.00 price objective on the stock. HC Wainwright's price objective would suggest a potential upside of 33.93% from the stock's previous close.

Several other equities analysts have also recently weighed in on JOBY. Canaccord Genuity Group lifted their price objective on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. 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 report on Thursday, February 27th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $7.00 target price (down from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Joby Aviation presently has an average rating of "Moderate Buy" and an average price target of $8.58.

Joby Aviation Stock Up 6.5 %

Joby Aviation stock traded up $0.41 during midday trading on Wednesday, hitting $6.72. The company's stock had a trading volume of 13,876,964 shares, compared to its average volume of 11,630,493. Joby Aviation has a 12 month low of $4.66 and a 12 month high of $10.72. The company has a market capitalization of $5.29 billion, a PE ratio of -9.60 and a beta of 2.35. The stock's 50-day moving average price is $6.22 and its 200-day moving average price is $7.02.

Insider Transactions at Joby Aviation

In related news, 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 sale, the director now directly owns 58,661,395 shares of the company's stock, valued at approximately $470,464,387.90. This represents a 0.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bonny W. Simi sold 9,695 shares of Joby Aviation stock in a transaction on Monday, March 24th. The stock was sold at an average price of $6.78, for a total transaction of $65,732.10. Following the completion of the transaction, the insider now owns 146,941 shares in the company, valued at $996,259.98. This trade represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,002,161 shares of company stock worth $6,781,863. 32.40% of the stock is owned by corporate insiders.

Institutional Trading of Joby Aviation

Hedge funds have recently added to or reduced their stakes in the business. Bouvel Investment Partners LLC boosted its position in shares of Joby Aviation by 1.4% in the fourth quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company's stock valued at $1,007,000 after acquiring an additional 1,715 shares during the period. NewEdge Advisors LLC raised its stake in Joby Aviation by 9.9% during the 4th quarter. NewEdge Advisors LLC now owns 21,505 shares of the company's stock valued at $175,000 after purchasing an additional 1,935 shares during the last quarter. Xponance Inc. boosted its holdings in Joby Aviation by 6.5% in the 1st quarter. Xponance Inc. now owns 32,635 shares of the company's stock valued at $196,000 after purchasing an additional 1,993 shares during the period. Gallagher Fiduciary Advisors LLC grew 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 worth $543,000 after purchasing an additional 2,000 shares during the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of Joby Aviation by 1.1% during the 4th quarter. California State Teachers Retirement System now owns 186,003 shares of the company's stock worth $1,512,000 after purchasing an additional 2,065 shares during the period. Institutional investors own 52.85% of the company's stock.

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.