Joby Aviation’s (JOBY) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Joby Aviation (NYSE:JOBY) in a research report sent to investors on Monday,Benzinga reports. They currently have a $18.00 price target on the stock.

A number of other equities research analysts have also recently issued reports on the company. Barclays upgraded Joby Aviation to a “hold” rating in a research note on Wednesday, July 29th. Wall Street Zen downgraded shares of Joby Aviation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Susquehanna set a $18.00 price target on shares of Joby Aviation in a research note on Thursday, August 6th. Finally, Needham & Company LLC cut their price objective on shares of Joby Aviation from $18.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Joby Aviation has a consensus rating of “Reduce” and a consensus target price of $13.81.

Joby Aviation Price Performance

JOBY opened at $6.24 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 17.98 and a quick ratio of 17.98. The company has a market capitalization of $6.17 billion, a price-to-earnings ratio of -6.30 and a beta of 2.68. The firm’s fifty day moving average price is $7.20 and its two-hundred day moving average price is $8.64. Joby Aviation has a 1 year low of $5.93 and a 1 year high of $19.98.

Joby Aviation (NYSE:JOBY) last released its earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). Joby Aviation had a negative net margin of 755.11% and a negative return on equity of 55.29%. The business had revenue of $38.64 million during the quarter, compared to the consensus estimate of $30.20 million. During the same period in the prior year, the company earned ($0.41) earnings per share. The business’s revenue was up 257493.3% on a year-over-year basis. As a group, analysts anticipate that Joby Aviation will post -1 earnings per share for the current fiscal year.

Insider Activity at Joby Aviation

In other news, insider Gregory Bowles sold 6,138 shares of the company’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $6.35, for a total value of $38,976.30. Following the completion of the sale, the insider owned 190,170 shares of the company’s stock, valued at approximately $1,207,579.50. This represents a 3.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kate Dehoff sold 14,240 shares of the firm’s stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of $7.73, for a total value of $110,075.20. Following the transaction, the insider directly owned 180,179 shares in the company, valued at $1,392,783.67. This trade represents a 7.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 911,140 shares of company stock worth $6,076,113 in the last three months. 20.35% of the stock is owned by insiders.

Hedge Funds Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently modified their holdings of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Joby Aviation in the fourth quarter worth $28,000. Ancora Advisors LLC purchased a new position in Joby Aviation during the 2nd quarter valued at $27,000. Leonteq Securities AG increased its position in Joby Aviation by 295.2% during the 1st quarter. Leonteq Securities AG now owns 4,351 shares of the company’s stock valued at $36,000 after purchasing an additional 3,250 shares during the period. Western Wealth Management LLC bought a new position in Joby Aviation in the 1st quarter worth $37,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of Joby Aviation by 95.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 5,385 shares of the company’s stock worth $44,000 after purchasing an additional 2,630 shares during the period. 52.85% of the stock is owned by institutional investors.

Joby Aviation Company Profile

Joby Aviation, Inc develops electric vertical takeoff and landing (eVTOL) aircraft intended to support commercial air-taxi services. Its aircraft are designed to take off and land vertically like helicopters while traveling with the speed and range of conventional aircraft, with the goal of providing quieter, lower-emission transportation for urban and regional journeys.

The company is pursuing an integrated business model that includes designing and manufacturing its aircraft, operating air-taxi services, and providing related technology and infrastructure.