Joby Aviation (NYSE:JOBY) Stock Rating Lowered by HC Wainwright

Joby Aviation (NYSE:JOBY - Get Free Report) was downgraded by equities researchers at HC Wainwright from a "buy" rating to a "neutral" rating in a research note issued on Thursday,Finviz reports.

Other equities analysts have also issued research reports about the company. Canaccord Genuity Group reaffirmed a "buy" rating and set a $12.00 price objective on shares of Joby Aviation in a report on Wednesday, June 4th. JPMorgan Chase & Co. raised their price target on Joby Aviation from $5.00 to $7.00 and gave the stock an "underweight" rating in a report on Friday, August 1st. Morgan Stanley reissued an "equal weight" rating and set a $7.00 price target (down previously from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. Wall Street Zen lowered Joby Aviation from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $9.00 price target on shares of Joby Aviation in a report on Monday, June 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Joby Aviation currently has a consensus rating of "Hold" and an average price target of $10.50.

Joby Aviation Stock Performance

Shares of JOBY stock opened at $18.95 on Thursday. The stock's 50-day moving average is $11.96 and its two-hundred day moving average is $8.60. The firm has a market cap of $15.01 billion, a price-to-earnings ratio of -22.56 and a beta of 2.52. Joby Aviation has a 1 year low of $4.70 and a 1 year high of $20.95.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.22). The firm had revenue of $0.02 million for the quarter, compared to analysts' expectations of $0.05 million. Joby Aviation had a negative return on equity of 63.27% and a negative net margin of 447,083.78%. The business's revenue for the quarter was down 94.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.18) EPS. As a group, research analysts predict that Joby Aviation will post -0.69 EPS for the current year.

Insider Transactions at Joby Aviation

In related news, insider Eric Allison sold 27,538 shares of the firm's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $11.97, for a total value of $329,629.86. Following the completion of the sale, the insider owned 660,076 shares in the company, valued at $7,901,109.72. This trade represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Didier Papadopoulos sold 5,102 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $10.28, for a total transaction of $52,448.56. Following the completion of the sale, the insider owned 84,953 shares of the company's stock, valued at approximately $873,316.84. The trade was a 5.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,864,754 shares of company stock valued at $19,236,149 over the last 90 days. Insiders own 28.50% of the company's stock.

Institutional Investors Weigh In On Joby Aviation

A number of hedge funds have recently added to or reduced their stakes in JOBY. CWM LLC lifted its position in shares of Joby Aviation by 8.1% during the 2nd quarter. CWM LLC now owns 9,156 shares of the company's stock valued at $97,000 after acquiring an additional 689 shares during the period. GPS Wealth Strategies Group LLC lifted its position in shares of Joby Aviation by 32.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company's stock valued at $33,000 after acquiring an additional 750 shares during the period. Flagship Harbor Advisors LLC lifted its position in shares of Joby Aviation by 2.6% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 31,726 shares of the company's stock valued at $335,000 after acquiring an additional 800 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Joby Aviation by 1.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 76,179 shares of the company's stock valued at $804,000 after acquiring an additional 864 shares during the period. Finally, GoalVest Advisory LLC lifted its position in shares of Joby Aviation by 5.1% during the 2nd quarter. GoalVest Advisory LLC now owns 20,500 shares of the company's stock valued at $216,000 after acquiring an additional 1,000 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.