JPMorgan Chase & Co. Begins Coverage on Joby Aviation (NYSE:JOBY)

Investment analysts at JPMorgan Chase & Co. started coverage on shares of Joby Aviation (NYSE:JOBY – Get Rating) in a research note issued on Thursday, The Fly reports. The brokerage set a “neutral” rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Joby Aviation from a “sell” rating to a “hold” rating in a research note on Wednesday, January 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of Joby Aviation in a report on Monday, April 11th. They issued a “hold” rating and a $8.00 target price for the company. Cantor Fitzgerald began coverage on shares of Joby Aviation in a report on Tuesday, April 5th. They issued an “overweight” rating and a $10.00 target price for the company. Finally, Barclays began coverage on shares of Joby Aviation in a research note on Tuesday, January 18th. They set an “equal weight” rating and a $6.00 price objective for the company. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $10.00.

JOBY opened at $5.16 on Thursday. The company’s 50 day moving average is $5.29 and its 200 day moving average is $6.46. Joby Aviation has a 12-month low of $3.61 and a 12-month high of $14.33.

Joby Aviation (NYSE:JOBY – Get Rating) last posted its quarterly earnings data on Thursday, March 24th. The company reported ($0.09) earnings per share (EPS) for the quarter. On average, equities research analysts predict that Joby Aviation will post -0.52 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of JOBY. UBS Group AG purchased a new stake in shares of Joby Aviation during the third quarter valued at $29,000. Minot Wealth Management LLC purchased a new stake in shares of Joby Aviation during the first quarter valued at $66,000. Traverso Chambers Private Wealth Management LLC purchased a new stake in shares of Joby Aviation during the first quarter valued at $73,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Joby Aviation during the fourth quarter valued at $75,000. Finally, Vident Investment Advisory LLC purchased a new stake in shares of Joby Aviation during the fourth quarter valued at $79,000. 18.13% of the stock is owned by hedge funds and other institutional investors.

Joby Aviation Company Profile (Get Rating)

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. It intends to build an aerial ridesharing service. The company was founded in 2009 and is headquartered in Santa Cruz, California.

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