Joby Aviation, Inc. (NYSE:JOBY) Given Average Recommendation of “Moderate Buy” by Analysts

Joby Aviation, Inc. (NYSE:JOBY) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $8.58.

JOBY has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Thursday, February 27th. Morgan Stanley reissued an “equal weight” rating and set a $7.00 price objective (down previously from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. Cantor Fitzgerald reissued an “overweight” rating and set a $9.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th.

Joby Aviation Trading Up 1.3 %

JOBY stock opened at $5.86 on Friday. The stock has a market capitalization of $4.62 billion, a P/E ratio of -8.38 and a beta of 2.35. The firm has a 50-day moving average price of $6.46 and a 200-day moving average price of $6.97. Joby Aviation has a 12 month low of $4.50 and a 12 month high of $10.72.

Insider Buying and Selling at Joby Aviation

In other news, Director Paul Cahill Sciarra sold 333,334 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $8.02, for a total value of $2,673,338.68. Following the transaction, the director now owns 58,661,395 shares in the company, valued at approximately $470,464,387.90. The trade was a 0.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric Allison sold 24,395 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $6.04, for a total transaction of $147,345.80. Following the sale, the insider now owns 627,726 shares of the company’s stock, valued at approximately $3,791,465.04. This trade represents a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 823,112 shares of company stock worth $5,754,922. Insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Verition Fund Management LLC grew its stake in Joby Aviation by 118.9% during the third quarter. Verition Fund Management LLC now owns 78,339 shares of the company’s stock worth $394,000 after purchasing an additional 42,544 shares during the period. State Street Corp grew its position in shares of Joby Aviation by 9.5% during the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company’s stock worth $47,144,000 after buying an additional 812,248 shares during the period. EP Wealth Advisors LLC increased its stake in shares of Joby Aviation by 15.4% in the 3rd quarter. EP Wealth Advisors LLC now owns 37,369 shares of the company’s stock valued at $188,000 after acquiring an additional 5,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in Joby Aviation by 7.7% during the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after acquiring an additional 670,852 shares in the last quarter. Finally, Tidal Investments LLC increased its stake in Joby Aviation by 13.7% in the third quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock valued at $147,000 after purchasing an additional 3,522 shares in the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

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.