Brokerages Set Joby Aviation, Inc. (NYSE:JOBY) Price Target at $14.00

Joby Aviation, Inc. (NYSE:JOBY) has been given an average recommendation of “Reduce” by the eight brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $14.00.

Several equities analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a research report on Wednesday, October 8th. Canaccord Genuity Group lowered shares of Joby Aviation from a “buy” rating to a “hold” rating and lifted their price target for the company from $12.00 to $17.00 in a research note on Thursday, August 7th. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price target on shares of Joby Aviation in a report on Thursday, November 6th. Zacks Research raised shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Friday, October 31st.

Joby Aviation Stock Up 1.5%

JOBY opened at $14.14 on Friday. Joby Aviation has a 12 month low of $4.96 and a 12 month high of $20.95. The company has a fifty day simple moving average of $15.92 and a 200 day simple moving average of $13.57. The stock has a market cap of $12.90 billion, a P/E ratio of -10.56 and a beta of 2.52.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Thursday, November 6th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The business had revenue of $22.57 million during the quarter, compared to analysts’ expectations of $0.02 million. During the same quarter in the previous year, the company posted ($0.21) EPS. The company’s quarterly revenue was up 7962.1% on a year-over-year basis. On average, equities research analysts expect that Joby Aviation will post -0.69 earnings per share for the current fiscal year.

Insider Transactions at Joby Aviation

In related news, insider Gregory Bowles sold 3,931 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $13.72, for a total transaction of $53,933.32. Following the completion of the transaction, the insider directly owned 159,085 shares in the company, valued at approximately $2,182,646.20. This trade represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric Allison sold 27,537 shares of Joby Aviation stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $16.84, for a total value of $463,723.08. Following the completion of the sale, the insider directly owned 692,428 shares in the company, valued at approximately $11,660,487.52. This represents a 3.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,154,802 shares of company stock worth $17,844,775. 28.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Joby Aviation

Hedge funds have recently made changes to their positions in the business. Asset Planning Inc raised its holdings in shares of Joby Aviation by 70.0% in the third quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock valued at $27,000 after purchasing an additional 700 shares during the last quarter. Strategic Advocates LLC acquired a new stake in Joby Aviation in the 3rd quarter valued at $29,000. Canton Hathaway LLC bought a new stake in Joby Aviation during the 3rd quarter worth about $29,000. Hilltop National Bank acquired a new position in shares of Joby Aviation during the 3rd quarter worth about $32,000. Finally, Ancora Advisors LLC bought a new position in shares of Joby Aviation in the 3rd quarter valued at about $35,000. 52.85% of the stock is owned by institutional investors.

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.