Joby Aviation (NYSE:JOBY) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of Joby Aviation (NYSE:JOBY - Free Report) from a sell rating to a hold rating in a research report released on Saturday morning.

Other equities research analysts have also issued reports about the stock. Morgan Stanley reaffirmed an "equal weight" rating and set a $7.00 price target (down from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. HC Wainwright reaffirmed 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. Canaccord Genuity Group reissued a "buy" rating and set a $12.00 price objective on shares of Joby Aviation in a report on Wednesday, June 4th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $9.00 price objective on shares of Joby Aviation in a report on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Joby Aviation presently has a consensus rating of "Hold" and a consensus target price of $9.33.

Joby Aviation Price Performance

JOBY traded down $0.28 during trading hours on Friday, reaching $12.05. 30,539,027 shares of the stock traded hands, compared to its average volume of 15,320,346. The firm's fifty day simple moving average is $8.48 and its two-hundred day simple moving average is $7.63. The company has a market cap of $9.54 billion, a price-to-earnings ratio of -14.35 and a beta of 2.47. Joby Aviation has a fifty-two week low of $4.66 and a fifty-two week high of $12.59.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its quarterly 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 net margin of 447,083.78% and a negative return on equity of 63.27%. During the same quarter last year, the business posted ($0.14) earnings per share. On average, research analysts predict that Joby Aviation will post -0.69 earnings per share for the current year.

Insider Activity at Joby Aviation

In other Joby Aviation news, CEO Joeben Bevirt sold 472,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $9.82, for a total transaction of $4,635,040.00. Following the completion of the transaction, the chief executive officer directly owned 360,999 shares of the company's stock, valued at $3,545,010.18. This trade represents a 56.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Motor Corp/ Toyota purchased 49,701,790 shares of Joby Aviation stock in a transaction dated Thursday, May 22nd. The stock was acquired at an average price of $5.03 per share, for a total transaction of $250,000,003.70. Following the completion of the transaction, the director owned 122,573,621 shares in the company, valued at approximately $616,545,313.63. The trade was a 68.20% increase in their position. The disclosure for this purchase can be found here. Insiders sold 1,514,473 shares of company stock worth $13,527,540 over the last 90 days. Company insiders own 28.50% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Whittier Trust Co. acquired a new position in shares of Joby Aviation in the 4th quarter valued at about $38,000. Toronto Dominion Bank acquired a new position in shares of Joby Aviation in the 4th quarter valued at about $41,000. Carolinas Wealth Consulting LLC acquired a new position in shares of Joby Aviation in the 4th quarter valued at about $41,000. GAMMA Investing LLC boosted its holdings in shares of Joby Aviation by 773.9% in the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock valued at $34,000 after buying an additional 5,015 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of Joby Aviation by 195.8% in the 4th quarter. Covestor Ltd now owns 6,022 shares of the company's stock valued at $50,000 after buying an additional 3,986 shares during the period. 52.85% of the stock is owned by institutional investors and hedge funds.

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.