HC Wainwright Reaffirms “Buy” Rating for Joby Aviation (NYSE:JOBY)

by · The Cerbat Gem

HC Wainwright reiterated their buy rating on shares of Joby Aviation (NYSE:JOBY – Free Report) in a research report sent to investors on Wednesday morning, Benzinga reports. HC Wainwright currently has a $9.00 price objective on the stock.

A number of other research firms have also recently commented on JOBY. JPMorgan Chase & Co. boosted their target price on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a neutral rating in a research report on Wednesday, July 24th. Cantor Fitzgerald reiterated an overweight rating and set a $10.00 price objective on shares of Joby Aviation in a research note on Monday, September 30th. Finally, Canaccord Genuity Group lowered their target price on Joby Aviation from $11.00 to $10.50 and set a buy rating for the company in a report on Thursday, August 8th.

View Our Latest Stock Report on Joby Aviation

Joby Aviation Trading Up 5.9 %

Shares of Joby Aviation stock opened at $5.94 on Wednesday. The company has a fifty day moving average price of $5.21 and a 200 day moving average price of $5.22. Joby Aviation has a twelve month low of $4.50 and a twelve month high of $7.69. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of -7.82 and a beta of 1.97.

Joby Aviation (NYSE:JOBY – Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.18). The company had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.28 million. During the same quarter last year, the business posted ($0.17) EPS. Analysts forecast 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 250,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the completion of the transaction, the chief executive officer now directly owns 32,674,274 shares of the company’s stock, valued at approximately $158,470,228.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Paul Cahill Sciarra sold 166,666 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $5.15, for a total transaction of $858,329.90. Following the completion of the sale, the director now directly owns 59,828,059 shares in the company, valued at approximately $308,114,503.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total value of $1,212,500.00. Following the completion of the transaction, the chief executive officer now directly owns 32,674,274 shares in the company, valued at $158,470,228.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 481,976 shares of company stock worth $2,424,045 in the last 90 days. Corporate insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds have recently modified their holdings of JOBY. Nisa Investment Advisors LLC boosted its position in shares of Joby Aviation by 216.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after purchasing an additional 5,840 shares during the period. Integris Wealth Management LLC acquired a new position in shares of Joby Aviation in the second quarter worth about $54,000. Dakota Wealth Management purchased a new position in shares of Joby Aviation in the second quarter worth approximately $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Joby Aviation during the second quarter valued at approximately $57,000. Finally, Choreo LLC purchased a new stake in shares of Joby Aviation in the 2nd quarter valued at approximately $60,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Joby Aviation Company Profile

(Get Free Report)

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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