Analysts Set Joby Aviation, Inc. (NYSE:JOBY) Price Target at $10.50

Joby Aviation, Inc. (NYSE:JOBY) has been assigned an average rating of “Hold” from the six brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $10.50.

Several equities analysts recently commented on the stock. Wall Street Zen lowered shares of Joby Aviation from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. HC Wainwright lowered shares of Joby Aviation from a “buy” rating to a “neutral” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. raised their price target on shares of Joby Aviation from $5.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, August 1st. Cantor Fitzgerald reissued a “neutral” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Monday, June 23rd. Finally, Canaccord Genuity Group lowered shares of Joby Aviation from a “buy” rating to a “hold” rating and raised their price target for the stock from $12.00 to $17.00 in a report on Thursday, August 7th.

Joby Aviation Stock Performance

Joby Aviation stock opened at $13.30 on Monday. The firm’s fifty day moving average price is $15.25 and its 200-day moving average price is $9.87. The stock has a market cap of $11.39 billion, a P/E ratio of -12.43 and a beta of 2.50. Joby Aviation has a fifty-two week low of $4.78 and a fifty-two week high of $20.95.

Joby Aviation (NYSE:JOBY) last released its earnings results on Wednesday, August 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.06). Joby Aviation had a negative net margin of 447,083.78% and a negative return on equity of 71.29%. The business had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.05 million. During the same period in the prior year, the business posted ($0.18) EPS. Joby Aviation’s revenue for the quarter was down 94.6% on a year-over-year basis. On average, analysts predict that Joby Aviation will post -0.69 earnings per share for the current year.

Insiders Place Their Bets

In other Joby Aviation news, Director Paul Cahill Sciarra sold 500,001 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $14.35, for a total value of $7,175,014.35. Following the sale, the director owned 56,828,058 shares of the company’s stock, valued at $815,482,632.30. This trade represents a 0.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gregory Bowles sold 7,754 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $14.80, for a total transaction of $114,759.20. Following the completion of the sale, the insider directly owned 153,280 shares in the company, valued at approximately $2,268,544. This trade represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,444,313 shares of company stock worth $28,868,184. 28.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Joby Aviation

A number of large investors have recently added to or reduced their stakes in JOBY. CWM LLC boosted its stake in shares of Joby Aviation by 8.1% during the 2nd quarter. CWM LLC now owns 9,156 shares of the company’s stock valued at $97,000 after purchasing an additional 689 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its stake in shares of Joby Aviation by 32.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock valued at $33,000 after purchasing an additional 750 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Joby Aviation by 11.9% during the 2nd quarter. Allworth Financial LP now owns 7,197 shares of the company’s stock valued at $76,000 after purchasing an additional 763 shares in the last quarter. Flagship Harbor Advisors LLC boosted its stake in shares of Joby Aviation by 2.6% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 31,726 shares of the company’s stock valued at $335,000 after purchasing an additional 800 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its stake in shares of Joby Aviation by 2.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company’s stock valued at $403,000 after purchasing an additional 821 shares in the last quarter. Institutional investors 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.