Joby Aviation (NYSE:JOBY) Downgraded by Cantor Fitzgerald to “Neutral”

Cantor Fitzgerald cut shares of Joby Aviation (NYSE:JOBY) from an overweight rating to a neutral rating in a research note issued to investors on Thursday morning, MarketBeat.com reports. Cantor Fitzgerald currently has $9.00 price objective on the stock. Cantor Fitzgerald also issued estimates for Joby Aviation’s FY2026 earnings at ($0.84) EPS.

A number of other research firms have also issued reports on JOBY. Morgan Stanley reiterated an “equal weight” rating and set a $7.00 price objective (down previously from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price objective (up previously from $9.00) on shares of Joby Aviation in a report on Monday. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. JPMorgan Chase & Co. reduced their price target on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $12.00 price target on shares of Joby Aviation in a report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Joby Aviation currently has a consensus rating of “Hold” and an average price target of $9.33.

Joby Aviation Stock Performance

JOBY opened at $8.83 on Thursday. The company’s 50 day simple moving average is $6.90 and its 200 day simple moving average is $7.37. Joby Aviation has a 1 year low of $4.66 and a 1 year high of $10.72. The stock has a market capitalization of $6.99 billion, a PE ratio of -12.61 and a beta of 2.39.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same quarter in the previous year, the business earned ($0.14) EPS. As a group, sell-side analysts expect that Joby Aviation will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In other news, insider Kate Dehoff sold 9,720 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $6.00, for a total value of $58,320.00. Following the transaction, the insider now owns 219,366 shares in the company, valued at $1,316,196. This represents a 4.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bonny W. Simi sold 9,695 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $6.78, for a total value of $65,732.10. Following the completion of the transaction, the insider now owns 146,941 shares in the company, valued at $996,259.98. This represents a 6.19% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 750,950 shares of company stock valued at $4,640,619. 28.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Joby Aviation

A number of large investors have recently made changes to their positions in the business. Toyota Motor Corp bought a new stake in shares of Joby Aviation in the 4th quarter valued at approximately $640,259,000. Uber Technologies Inc acquired a new position in Joby Aviation during the fourth quarter worth $207,842,000. Vanguard Group Inc. increased its stake in shares of Joby Aviation by 15.8% in the fourth quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company’s stock valued at $380,163,000 after buying an additional 6,388,232 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of Joby Aviation by 331.4% in the fourth quarter. Nuveen Asset Management LLC now owns 4,260,082 shares of the company’s stock valued at $34,634,000 after buying an additional 3,272,597 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Joby Aviation in the first quarter valued at $18,936,000. 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.