Cantor Fitzgerald Reiterates "Neutral" Rating for Joby Aviation (NYSE:JOBY)

Cantor Fitzgerald restated their neutral rating on shares of Joby Aviation (NYSE:JOBY - Free Report) in a research note published on Monday morning,Benzinga reports. The firm currently has a $9.00 price objective on the stock.

Several other brokerages also recently issued reports on JOBY. HC Wainwright reiterated a "buy" rating and issued a $13.00 price target (up from $9.00) on shares of Joby Aviation in a report on Monday, June 9th. Canaccord Genuity Group reiterated a "buy" rating and issued a $12.00 target price on shares of Joby Aviation in a research note on Wednesday, June 4th. Morgan Stanley reiterated an "equal weight" rating and set a $7.00 target price (down from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. JPMorgan Chase & Co. lowered their price objective on shares of 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, Needham & Company LLC reissued a "buy" rating and set a $10.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Joby Aviation has a consensus rating of "Hold" and a consensus price target of $9.33.

Joby Aviation Trading Down 0.4%

Shares of JOBY traded down $0.03 during mid-day trading on Monday, reaching $8.51. The company had a trading volume of 21,424,707 shares, compared to its average volume of 14,191,354. Joby Aviation has a fifty-two week low of $4.66 and a fifty-two week high of $10.72. The firm has a fifty day simple moving average of $7.25 and a 200-day simple moving average of $7.38. The stock has a market cap of $6.74 billion, a price-to-earnings ratio of -10.13 and a beta of 2.39.

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, beating analysts' consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 63.27% and a negative net margin of 447,083.78%. During the same period in the previous year, the company earned ($0.14) EPS. As a group, equities analysts predict that Joby Aviation will post -0.69 EPS for the current fiscal year.

Insider Activity at Joby Aviation

In other news, insider Didier Papadopoulos sold 4,683 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $8.90, for a total transaction of $41,678.70. Following the transaction, the insider now owns 79,654 shares of the company's stock, valued at approximately $708,920.60. This trade represents a 5.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $5.89, for a total value of $1,472,500.00. Following the completion of the transaction, the chief executive officer now owns 32,275,793 shares of the company's stock, valued at $190,104,420.77. This trade represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 579,271 shares of company stock valued at $3,486,563. Insiders own 32.40% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Rhumbline Advisers raised its stake in Joby Aviation by 8.6% during the fourth quarter. Rhumbline Advisers now owns 594,419 shares of the company's stock worth $4,833,000 after acquiring an additional 47,070 shares during the period. Allworth Financial LP grew its holdings in shares of Joby Aviation by 200.6% during the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company's stock valued at $44,000 after purchasing an additional 3,320 shares during the last quarter. D.A. Davidson & CO. bought a new position in shares of Joby Aviation during the fourth quarter valued at approximately $117,000. New York State Common Retirement Fund raised its position in shares of Joby Aviation by 14.6% during the 4th quarter. New York State Common Retirement Fund now owns 124,751 shares of the company's stock worth $1,014,000 after purchasing an additional 15,900 shares during the period. Finally, Private Advisor Group LLC lifted its holdings 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 worth $299,000 after purchasing an additional 2,261 shares during the last quarter. 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.