Joby Aviation (NYSE:JOBY) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Joby Aviation (NYSE:JOBY) from a sell rating to a hold rating in a research note published on Wednesday morning, Zacks.com reports.

According to Zacks, “Joby Aviation Inc. is involved in developing all-electric aircraft for aerial ridesharing. Joby Aviation Inc., formerly known as Reinvent Technology Partners, is based in SANTA CRUZ, Calif. “

Separately, Morgan Stanley started coverage on Joby Aviation in a report on Thursday, September 23rd. They set an overweight rating and a $16.00 price target on the stock.

JOBY stock opened at $5.71 on Wednesday. Joby Aviation has a 12-month low of $5.56 and a 12-month high of $17.00. The company has a fifty day moving average price of $7.56.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Thursday, November 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.14). As a group, research analysts forecast that Joby Aviation will post -0.52 earnings per share for the current fiscal year.

In other Joby Aviation news, Director Paul Cahill Sciarra acquired 155,000 shares of the company’s stock in a transaction dated Wednesday, December 15th. The shares were acquired at an average price of $6.32 per share, for a total transaction of $979,600.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Joeben Bevirt acquired 40,000 shares of the company’s stock in a transaction dated Wednesday, December 15th. The stock was acquired at an average price of $6.29 per share, for a total transaction of $251,600.00. The disclosure for this purchase can be found here.

Several institutional investors and hedge funds have recently added to or reduced their stakes in JOBY. UBS Group AG acquired a new stake in shares of Joby Aviation in the 3rd quarter valued at about $29,000. Cahaba Wealth Management Inc. acquired a new stake in shares of Joby Aviation in the 3rd quarter valued at about $100,000. Goldman Sachs Group Inc. acquired a new stake in shares of Joby Aviation in the 3rd quarter valued at about $113,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Joby Aviation in the 3rd quarter valued at about $124,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Joby Aviation in the 3rd quarter valued at about $128,000. Institutional investors and hedge funds own 38.17% of the company’s stock.

About Joby Aviation

Reinvent Technology Partners entered into a definitive business combination agreement with Joby Aviation.

Further Reading: Asset Allocation, Balancing Your Investments

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