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

Joby Aviation, Inc. (NYSE:JOBY) saw some unusual options trading activity on Friday. Stock traders acquired 33,684 call options on the stock. This represents an increase of approximately 81% compared to the typical volume of 18,639 call options.

Insider Activity

In other Joby Aviation news, insider Kate Dehoff sold 27,898 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $5.50, for a total transaction of $153,439.00. Following the transaction, the insider now owns 199,413 shares in the company, valued at approximately $1,096,771.50. This represents a 12.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Matthew Field sold 5,643 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $5.96, for a total transaction of $33,632.28. Following the completion of the transaction, the insider now directly owns 293,143 shares in the company, valued at $1,747,132.28. This trade represents a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,111 shares of company stock worth $674,055 in the last quarter. 32.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Joby Aviation

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC grew its position in Joby Aviation by 7.7% during the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after buying an additional 670,852 shares in the last quarter. State Street Corp lifted its stake in Joby Aviation by 9.5% during the third quarter. State Street Corp now owns 9,372,636 shares of the company’s stock worth $47,144,000 after purchasing an additional 812,248 shares during the last quarter. Ieq Capital LLC boosted its holdings in shares of Joby Aviation by 68.6% in the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after purchasing an additional 1,807,054 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Joby Aviation by 41.8% during 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 in the last quarter. Finally, Susquehanna Fundamental Investments LLC lifted its position 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 worth $3,453,000 after buying an additional 616,579 shares during the last quarter. 52.85% of the stock is owned by hedge funds and other institutional investors.

Joby Aviation Price Performance

Shares of NYSE JOBY opened at $9.77 on Friday. The business’s fifty day moving average price is $7.18 and its 200-day moving average price is $6.04. Joby Aviation has a one year low of $4.50 and a one year high of $9.82. The stock has a market capitalization of $7.47 billion, a PE ratio of -13.96 and a beta of 2.32.

Joby Aviation (NYSE:JOBY) last posted its earnings results 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). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The company had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. During the same quarter in the prior year, the company earned ($0.13) EPS. As a group, equities analysts expect that Joby Aviation will post -0.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on JOBY. Canaccord Genuity Group cut their target price on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th. JPMorgan Chase & Co. lowered their target price on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. HC Wainwright reiterated a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a report on Wednesday, December 18th. Finally, Needham & Company LLC began coverage on shares of Joby Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $8.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.35.

Joby Aviation Company Profile

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.