Joby Aviation (NYSE:JOBY) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Joby Aviation (NYSE:JOBY – Free Report) from a strong sell rating to a sell rating in a research report report published on Saturday,Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the stock. Needham & Company LLC reduced their target price on shares of Joby Aviation from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, November 5th. Susquehanna set a $18.00 price target on shares of Joby Aviation in a research report on Thursday, August 6th. Morgan Stanley decreased their price objective on shares of Joby Aviation from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Friday, October 16th. Barclays initiated coverage on shares of Joby Aviation in a research note on Friday, October 9th. They set an “underweight” rating and a $4.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a report on Monday, September 21st. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Joby Aviation currently has an average rating of “Reduce” and an average target price of $11.33.

Check Out Our Latest Report on Joby Aviation

Joby Aviation Stock Performance

Shares of JOBY stock opened at $6.16 on Friday. The stock’s fifty day simple moving average is $5.71 and its 200 day simple moving average is $8.40. The company has a quick ratio of 17.98, a current ratio of 17.98 and a debt-to-equity ratio of 0.40. Joby Aviation has a one year low of $4.43 and a one year high of $17.10.

Joby Aviation (NYSE:JOBY – Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.03. Joby Aviation had a negative return on equity of 48.49% and a negative net margin of 462.85%. The firm had revenue of $55.09 million for the quarter, compared to analysts’ expectations of $38.95 million. During the same period in the prior year, the business posted ($0.48) earnings per share. The business’s revenue was up 143.8% compared to the same quarter last year. On average, equities analysts anticipate that Joby Aviation will post -0.97 EPS for the current fiscal year.

Insider Activity at Joby Aviation

In related news, CEO JoeBen Bevirt sold 15,789 shares of Joby Aviation stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $5.95, for a total value of $93,944.55. Following the completion of the transaction, the chief executive officer directly owned 254,519 shares of the company’s stock, valued at $1,514,388.05. The trade was a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Gregory Bowles sold 5,302 shares of the company’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $5.78, for a total transaction of $30,645.56. Following the transaction, the insider owned 193,704 shares in the company, valued at approximately $1,119,609.12. This trade represents a 2.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 1,017,628 shares of company stock valued at $6,340,090. 20.35% of the stock is currently owned by company insiders.

Institutional Trading of Joby Aviation

Several hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC increased its holdings in shares of Joby Aviation by 194.5% in the first quarter. Renaissance Technologies LLC now owns 4,005,200 shares of the company’s stock valued at $33,083,000 after purchasing an additional 2,645,200 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Joby Aviation by 4.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,947,672 shares of the company’s stock valued at $17,833,000 after buying an additional 131,920 shares during the period. Amova Asset Management Americas Inc. raised its position in shares of Joby Aviation by 48.1% during the first quarter. Amova Asset Management Americas Inc. now owns 2,678,495 shares of the company’s stock worth $22,124,000 after acquiring an additional 870,244 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Joby Aviation by 27.6% during the second quarter. Bank of New York Mellon Corp now owns 2,136,710 shares of the company’s stock worth $19,059,000 after acquiring an additional 462,585 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in shares of Joby Aviation by 3.5% during the second quarter. HighTower Advisors LLC now owns 920,410 shares of the company’s stock worth $8,210,000 after acquiring an additional 30,928 shares during the last quarter. 52.85% of the stock is owned by institutional investors.

Joby Aviation Company Profile

(Get Free Report)

Joby Aviation, Inc develops electric vertical takeoff and landing (eVTOL) aircraft for passenger transportation. Its aircraft are designed to take off and land vertically, then fly like an airplane, with the goal of providing quiet, zero-operating-emission air taxi services for urban and regional trips.

Founded in 2009 by JoeBen Bevirt, the California-based company is working to develop and manufacture its aircraft and establish the operations needed to offer commercial passenger flights.

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