Joby Aviation (NYSE:JOBY) Earns Buy Rating from HC Wainwright

Joby Aviation (NYSE:JOBY)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued on Monday, Benzinga reports. They presently have a $18.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 182.49% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Barclays upgraded shares of Joby Aviation to a “hold” rating in a report on Wednesday, July 29th. Needham & Company LLC lowered their price objective on Joby Aviation from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Susquehanna set a $18.00 target price on Joby Aviation in a research note on Thursday, August 6th. Weiss Ratings raised Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Finally, Wall Street Zen lowered Joby Aviation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $13.81.

Joby Aviation Stock Up 4.1%

Joby Aviation stock traded up $0.25 during mid-day trading on Monday, reaching $6.37. The stock had a trading volume of 7,711,585 shares, compared to its average volume of 31,718,518. The company has a market capitalization of $6.30 billion, a price-to-earnings ratio of -6.40 and a beta of 2.68. The company has a 50-day moving average price of $7.28 and a two-hundred day moving average price of $8.72. Joby Aviation has a one year low of $5.93 and a one year high of $19.98. The company has a debt-to-equity ratio of 0.40, a current ratio of 17.98 and a quick ratio of 17.98.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The firm had revenue of $38.64 million for the quarter, compared to analysts’ expectations of $30.20 million. Joby Aviation had a negative net margin of 755.11% and a negative return on equity of 55.29%. The business’s revenue for the quarter was up 257493.3% compared to the same quarter last year. During the same period last year, the company posted ($0.41) earnings per share. On average, analysts expect that Joby Aviation will post -1 EPS for the current fiscal year.

Insider Transactions at Joby Aviation

In other news, Director Paul Sciarra sold 62,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $6.68, for a total transaction of $417,500.00. Following the completion of the transaction, the director directly owned 55,703,057 shares of the company’s stock, valued at $372,096,420.76. The trade was a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO JoeBen Bevirt sold 606,667 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $6.19, for a total transaction of $3,755,268.73. Following the transaction, the chief executive officer owned 57,207,377 shares in the company, valued at approximately $354,113,663.63. This trade represents a 1.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 905,002 shares of company stock valued at $6,037,136. Company insiders own 20.35% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

Institutional investors and hedge funds have recently modified their holdings of the company. Ancora Advisors LLC purchased a new stake in Joby Aviation during the second quarter valued at $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Joby Aviation in the fourth quarter worth about $28,000. Leonteq Securities AG grew its stake in shares of Joby Aviation by 295.2% during the 1st quarter. Leonteq Securities AG now owns 4,351 shares of the company’s stock valued at $36,000 after purchasing an additional 3,250 shares during the period. Western Wealth Management LLC bought a new stake in shares of Joby Aviation during the 1st quarter valued at about $37,000. Finally, Geneos Wealth Management Inc. increased its position in shares of Joby Aviation by 95.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,385 shares of the company’s stock valued at $44,000 after purchasing an additional 2,630 shares during the last quarter. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Joby Aviation Company Profile

Joby Aviation, Inc develops electric vertical takeoff and landing (eVTOL) aircraft intended to support commercial air-taxi services. Its aircraft are designed to take off and land vertically like helicopters while traveling with the speed and range of conventional aircraft, with the goal of providing quieter, lower-emission transportation for urban and regional journeys.

The company is pursuing an integrated business model that includes designing and manufacturing its aircraft, operating air-taxi services, and providing related technology and infrastructure.