Joby Aviation, Inc. (NYSE:JOBY) Receives $9.33 Consensus PT from Brokerages

Shares of Joby Aviation, Inc. (NYSE:JOBY) have been given an average rating of “Hold” by the six ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $9.33.

JOBY has been the subject of a number of recent analyst reports. 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. Wall Street Zen raised Joby Aviation from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Canaccord Genuity Group restated a “buy” rating and set a $12.00 price objective on shares of Joby Aviation in a report on Wednesday, June 4th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Monday, June 23rd. Finally, 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 research report on Friday, April 11th.

Joby Aviation Price Performance

Shares of JOBY opened at $18.09 on Friday. Joby Aviation has a 12 month low of $4.66 and a 12 month high of $18.55. The stock’s 50-day moving average is $10.41 and its two-hundred day moving average is $8.14. The stock has a market cap of $14.32 billion, a PE ratio of -21.54 and a beta of 2.47.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the company posted ($0.14) EPS. On average, research analysts anticipate that Joby Aviation will post -0.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Kate Dehoff sold 20,823 shares of the firm’s stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $13.67, for a total transaction of $284,650.41. Following the transaction, the insider directly owned 202,276 shares in the company, valued at $2,765,112.92. This trade represents a 9.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gregory Bowles sold 7,961 shares of the business’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $10.28, for a total transaction of $81,839.08. Following the sale, the insider owned 153,280 shares of the company’s stock, valued at approximately $1,575,718.40. The trade was a 4.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,867,653 shares of company stock worth $19,256,442. Corporate insiders own 28.50% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently bought and sold shares of JOBY. GAMMA Investing LLC raised its position in shares of Joby Aviation by 773.9% during the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the company’s stock worth $34,000 after purchasing an additional 5,015 shares during the period. Strs Ohio bought a new stake in Joby Aviation in the first quarter valued at $37,000. Whittier Trust Co. acquired a new position in shares of Joby Aviation during the fourth quarter valued at $38,000. Ameritas Advisory Services LLC bought a new position in shares of Joby Aviation during the second quarter worth about $39,000. Finally, Toronto Dominion Bank acquired a new stake in shares of Joby Aviation in the 4th quarter worth about $41,000. Institutional investors and hedge funds 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.