Joby Aviation Target of Unusually Large Options Trading (NYSE:JOBY)

Joby Aviation, Inc. (NYSE:JOBY) was the target of unusually large options trading on Tuesday. Stock traders bought 87,234 call options on the stock. This represents an increase of 567% compared to the average daily volume of 13,086 call options.

Joby Aviation Price Performance

Shares of NYSE JOBY opened at $8.00 on Thursday. The company has a market cap of $6.12 billion, a PE ratio of -11.43 and a beta of 1.97. The stock has a fifty day moving average price of $5.71 and a 200 day moving average price of $5.44. Joby Aviation has a 1-year low of $4.50 and a 1-year high of $8.62.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. The firm had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. During the same quarter in the previous year, the business earned ($0.13) EPS. Analysts anticipate that Joby Aviation will post -0.69 earnings per share for the current fiscal year.

Insider Transactions at Joby Aviation

In related news, insider Gregory Bowles sold 7,748 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $8.08, for a total transaction of $62,603.84. Following the sale, the insider now directly owns 29,235 shares of the company’s stock, valued at $236,218.80. This represents a 20.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Didier Papadopoulos sold 6,025 shares of the stock in a transaction that occurred 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 owns 47,474 shares in the company, valued at approximately $253,036.42. This trade represents a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 535,526 shares of company stock worth $2,745,708 over the last ninety days. Company insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Caprock Group LLC raised its holdings in Joby Aviation by 179.5% during the third quarter. Caprock Group LLC now owns 124,404 shares of the company’s stock worth $626,000 after purchasing an additional 79,896 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its stake in shares of Joby Aviation by 1,018.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock worth $3,453,000 after buying an additional 616,579 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Joby Aviation by 26.7% in the 2nd quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock worth $2,798,000 after buying an additional 115,483 shares in the last quarter. Vanguard Group Inc. grew its stake 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 acquiring an additional 2,889,012 shares during the last quarter. Finally, Cetera Advisors LLC increased its holdings in Joby Aviation by 32.9% during the 1st quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock valued at $109,000 after acquiring an additional 5,025 shares in the last quarter. Institutional investors and hedge funds own 45.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a research note on Monday, September 30th. Needham & Company LLC assumed coverage on Joby Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $8.00 price objective on the stock. Canaccord Genuity Group decreased their target price on Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research note on Tuesday, October 29th. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Joby Aviation presently has an average rating of “Moderate Buy” and a consensus price target of $8.35.

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.