Deutsche Bank Aktiengesellschaft Cuts Joby Aviation (NYSE:JOBY) Price Target to $6.00

Joby Aviation (NYSE:JOBYGet Rating) had its price objective cut by Deutsche Bank Aktiengesellschaft from $7.00 to $6.00 in a research note published on Wednesday morning, The Fly reports.

A number of other analysts also recently commented on JOBY. JPMorgan Chase & Co. boosted their price objective on Joby Aviation from $5.00 to $6.00 and gave the stock a neutral rating in a research note on Thursday, November 3rd. Morgan Stanley dropped their price objective on Joby Aviation from $12.00 to $11.00 and set an overweight rating on the stock in a research note on Thursday, November 3rd. Barclays dropped their price objective on Joby Aviation from $6.00 to $4.50 and set an equal weight rating on the stock in a research note on Tuesday, November 15th. Finally, Raymond James assumed coverage on Joby Aviation in a research report on Wednesday, July 27th. They set a market perform rating on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $7.50.

Joby Aviation Stock Performance

Shares of JOBY stock opened at $4.20 on Wednesday. Joby Aviation has a 1 year low of $3.61 and a 1 year high of $8.57. The stock has a fifty day moving average of $4.60 and a two-hundred day moving average of $5.12. The firm has a market capitalization of $2.56 billion, a PE ratio of -12.73 and a beta of 1.58.

Joby Aviation (NYSE:JOBYGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.16). Equities research analysts predict that Joby Aviation will post -0.58 earnings per share for the current fiscal year.

Insider Transactions at Joby Aviation

In other news, insider Didier Papadopoulos sold 40,000 shares of Joby Aviation stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $5.50, for a total transaction of $220,000.00. Following the transaction, the insider now owns 18,128 shares in the company, valued at $99,704. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Didier Papadopoulos sold 40,000 shares of Joby Aviation stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $5.50, for a total transaction of $220,000.00. Following the transaction, the insider now owns 18,128 shares in the company, valued at $99,704. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew Field sold 7,000 shares of Joby Aviation stock in a transaction on Monday, September 19th. The shares were sold at an average price of $5.50, for a total value of $38,500.00. Following the transaction, the insider now owns 97,738 shares in the company, valued at approximately $537,559. The disclosure for this sale can be found here. Insiders have sold 453,010 shares of company stock valued at $2,216,287 over the last three months. Company insiders own 51.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SNC purchased a new position in Joby Aviation in the third quarter valued at about $553,000. Trexquant Investment LP purchased a new position in Joby Aviation in the third quarter valued at about $97,000. Vanguard Group Inc. grew its stake in Joby Aviation by 2.3% in the third quarter. Vanguard Group Inc. now owns 20,722,910 shares of the company’s stock valued at $89,731,000 after purchasing an additional 468,437 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Joby Aviation by 35.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 83,256 shares of the company’s stock valued at $361,000 after purchasing an additional 21,992 shares in the last quarter. Finally, Progeny 3 Inc. purchased a new position in Joby Aviation in the third quarter valued at about $195,000. Hedge funds and other institutional investors own 29.04% of the company’s stock.

About Joby Aviation

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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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