Deutsche Bank Aktiengesellschaft Cuts Joby Aviation (NYSE:JOBY) Price Target to $6.00

Joby Aviation (NYSE:JOBYGet Rating) had its target price trimmed by Deutsche Bank Aktiengesellschaft from $7.00 to $6.00 in a report published on Wednesday morning, The Fly reports.

A number of other brokerages have also recently issued reports on JOBY. Raymond James began coverage on Joby Aviation in a report on Wednesday, July 27th. They issued a market perform rating for the company. Morgan Stanley dropped their target price on Joby Aviation from $12.00 to $11.00 and set an overweight rating for the company in a report on Thursday, November 3rd. Barclays dropped their target price on Joby Aviation from $6.00 to $4.50 and set an equal weight rating for the company in a report on Tuesday, November 15th. Finally, JPMorgan Chase & Co. increased their target price on Joby Aviation from $5.00 to $6.00 and gave the stock a neutral rating in a report on Thursday, November 3rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $7.50.

Joby Aviation Stock Up 0.2 %

Joby Aviation stock opened at $4.20 on Wednesday. The business has a 50 day moving average price of $4.60 and a two-hundred day moving average price of $5.12. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -12.73 and a beta of 1.58. Joby Aviation has a 12 month low of $3.61 and a 12 month high of $8.57.

Joby Aviation (NYSE:JOBYGet Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.16) EPS for the quarter, meeting the consensus estimate of ($0.16). On average, analysts expect that Joby Aviation will post -0.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, CEO Joeben Bevirt sold 18,500 shares of the stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $5.00, for a total value of $92,500.00. Following the transaction, the chief executive officer now directly owns 54,530,528 shares in the company, valued at approximately $272,652,640. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Joby Aviation news, CEO Joeben Bevirt sold 18,500 shares of the stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $5.00, for a total value of $92,500.00. Following the transaction, the chief executive officer now directly owns 54,530,528 shares in the company, valued at approximately $272,652,640. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew Field sold 7,000 shares of the stock in a transaction on Monday, September 19th. The shares were sold at an average price of $5.50, for a total value of $38,500.00. Following the completion of the transaction, the insider now directly owns 97,738 shares in the company, valued at approximately $537,559. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 453,010 shares of company stock worth $2,216,287. Insiders own 51.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Capricorn Investment Group LLC acquired a new position in shares of Joby Aviation in the 2nd quarter valued at $219,585,000. Vanguard Group Inc. lifted its stake in shares of Joby Aviation by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 20,722,910 shares of the company’s stock valued at $89,731,000 after purchasing an additional 468,437 shares during the period. State Street Corp lifted its stake in shares of Joby Aviation by 37.5% in the 2nd quarter. State Street Corp now owns 6,752,316 shares of the company’s stock valued at $33,154,000 after purchasing an additional 1,840,567 shares during the period. EDBI Pte Ltd lifted its stake in shares of Joby Aviation by 0.5% in the 3rd quarter. EDBI Pte Ltd now owns 4,482,056 shares of the company’s stock valued at $19,407,000 after purchasing an additional 22,493 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Joby Aviation by 13.3% in the 1st quarter. Invesco Ltd. now owns 3,749,594 shares of the company’s stock valued at $24,822,000 after purchasing an additional 441,206 shares during the period. Institutional investors and hedge funds own 29.04% of the company’s stock.

Joby Aviation Company Profile

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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. It intends to build an aerial ridesharing service. The company was founded in 2009 and is headquartered in Santa Cruz, California.

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