Joby Aviation (NYSE:JOBY) Price Target Raised to $13.00 at HC Wainwright

Joby Aviation (NYSE:JOBY) had its price objective boosted by HC Wainwright from $9.00 to $13.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $9.00 target price on shares of Joby Aviation in a research report on Monday, May 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. Morgan Stanley restated an “equal weight” rating and issued a $7.00 price target (down previously from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. JPMorgan Chase & Co. decreased their price objective on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $12.00 target price on shares of Joby Aviation in a research report on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.33.

Joby Aviation Trading Up 13.8%

Joby Aviation stock opened at $9.24 on Monday. The company has a fifty day simple moving average of $6.68 and a 200-day simple moving average of $7.33. The stock has a market cap of $7.32 billion, a P/E ratio of -13.20 and a beta of 2.39. Joby Aviation has a 12-month low of $4.66 and a 12-month high of $10.72.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter last year, the firm posted ($0.14) EPS. As a group, sell-side analysts forecast that Joby Aviation will post -0.69 earnings per share for the current fiscal year.

Insider Activity at Joby Aviation

In related news, insider Bonny W. Simi sold 9,695 shares of Joby Aviation stock in a transaction on Monday, March 24th. The shares were sold at an average price of $6.78, for a total transaction of $65,732.10. Following the transaction, the insider now owns 146,941 shares in the company, valued at approximately $996,259.98. The trade was a 6.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Motor Corp/ Toyota purchased 49,701,790 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased at an average cost of $5.03 per share, with a total value of $250,000,003.70. Following the completion of the acquisition, the director now owns 122,573,621 shares in the company, valued at approximately $616,545,313.63. This represents a 68.20% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 750,950 shares of company stock worth $4,640,619. 28.50% of the stock is currently owned by insiders.

Institutional Trading of Joby Aviation

Hedge funds have recently made changes to their positions in the stock. Stratos Wealth Partners LTD. bought a new stake in Joby Aviation in the fourth quarter valued at about $466,000. Golden State Wealth Management LLC bought a new position in Joby Aviation in the fourth quarter worth about $42,000. Kingsview Wealth Management LLC grew its holdings in shares of Joby Aviation by 380.6% during the fourth quarter. Kingsview Wealth Management LLC now owns 74,006 shares of the company’s stock valued at $602,000 after purchasing an additional 58,607 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Joby Aviation by 32.7% in the 4th quarter. Empowered Funds LLC now owns 13,409 shares of the company’s stock worth $109,000 after purchasing an additional 3,308 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of Joby Aviation in the 4th quarter worth about $300,000. 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.