10 Best Low Priced Stocks to Invest in Now

7) Joby Aviation, Inc. (NYSE:JOBY)

Stock Price as of February 22: $6.98

Number of Hedge Fund Holders: 25

Joby Aviation, Inc. (NYSE:JOBY) is a vertically integrated air mobility company, that is engaged in building an EV take-off and landing aircraft optimized to deliver air transportation as a service. Analyst Chris Pierce from Needham reiterated a “Buy” rating on the company’s stock, increasing the price target to $10.00 from $8.00. The increase in price target stems from Joby Aviation, Inc. (NYSE:JOBY)’s strengthened financial position. It has bolstered its cash reserves, which provides a significant margin of safety and improves its prospects for achieving projected financial targets. The company’s position in the eVTOL market revolves around its advanced technology and strategic partnerships.

Toyota Motor Corporation and Joby Aviation, Inc. (NYSE:JOBY) announced that Toyota will be investing an additional $500 million to support certification and commercial production of the latter’s electric air taxi to realize the two companies’ shared vision of air mobility. Furthermore, Joby Aviation, Inc. (NYSE:JOBY)  has been making progress toward commercialization as it rolled its third aircraft off its pilot production line in Marina, California. The company’s potential for capturing a strong market share in the evolving eVTOL industry remains substantial, considering its technological progress. Furthermore, Joby Aviation, Inc. (NYSE:JOBY)’s integrated approach, including plans for high-margin aftermarket service and support, can help create a strong ecosystem around its aircraft.