Traders Buy Large Volume of Joby Aviation Call Options (NYSE:JOBY)

Joby Aviation, Inc. (NYSE:JOBY) saw unusually large options trading activity on Monday. Stock investors bought 49,401 call options on the stock. This is an increase of approximately 344% compared to the average daily volume of 11,136 call options.

Insider Buying and Selling

In related news, insider Didier Papadopoulos sold 6,025 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $5.33, for a total value of $32,113.25. Following the completion of the sale, the insider now owns 47,474 shares of the company’s stock, valued at approximately $253,036.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the sale, the chief executive officer now owns 32,674,274 shares of the company’s stock, valued at $158,470,228.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Didier Papadopoulos sold 6,025 shares of Joby Aviation stock in a transaction on Monday, September 16th. The stock was sold at an average price of $5.33, for a total transaction of $32,113.25. Following the sale, the insider now directly owns 47,474 shares in the company, valued at approximately $253,036.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 525,499 shares of company stock valued at $2,667,151. 32.40% of the stock is owned by corporate insiders.

Institutional Trading of Joby Aviation

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Joby Aviation by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock valued at $185,776,000 after buying an additional 2,889,012 shares during the period. Ieq Capital LLC raised its holdings in Joby Aviation by 68.6% in the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock valued at $22,652,000 after buying an additional 1,807,054 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Joby Aviation in the 1st quarter valued at about $15,357,000. Bank of New York Mellon Corp raised its holdings in Joby Aviation by 41.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock valued at $7,521,000 after buying an additional 435,069 shares during the period. Finally, Susquehanna Fundamental Investments LLC raised its holdings in Joby Aviation by 1,018.5% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after buying an additional 616,579 shares during the period. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group lowered their target price on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lowered their target price on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research report on Wednesday, October 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th.

Joby Aviation Trading Up 20.3 %

Shares of JOBY stock opened at $6.27 on Tuesday. The company’s 50-day moving average price is $5.31 and its 200-day moving average price is $5.31. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of -8.27 and a beta of 1.97. Joby Aviation has a twelve month low of $4.50 and a twelve month high of $7.69.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The company had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same quarter last year, the firm posted ($0.13) earnings per share. As a group, equities research analysts predict that Joby Aviation will post -0.69 EPS for the current year.

About Joby Aviation

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. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.