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

Joby Aviation, Inc. (NYSE:JOBY) was the target of unusually large options trading on Monday. Investors purchased 49,401 call options on the stock. This represents an increase of approximately 344% compared to the average daily volume of 11,136 call options.

Analysts Set New Price Targets

A number of research firms have recently weighed in on JOBY. Canaccord Genuity Group reduced their target price on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research report on Tuesday, October 29th. HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, October 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. decreased their price objective on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th.

Joby Aviation Price Performance

NYSE:JOBY opened at $6.32 on Wednesday. Joby Aviation has a 1 year low of $4.50 and a 1 year high of $7.69. The stock’s fifty day moving average price is $5.34 and its two-hundred day moving average price is $5.32. The company has a market cap of $4.52 billion, a P/E ratio of -8.91 and a beta of 1.97.

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 analysts’ consensus estimates of ($0.19) by ($0.02). The company had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same period last year, the company posted ($0.13) EPS. On average, analysts expect that Joby Aviation will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Didier Papadopoulos sold 6,025 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $5.33, for a total transaction of $32,113.25. Following the transaction, the insider now directly owns 47,474 shares of the company’s stock, valued at $253,036.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Gregory Bowles sold 26,775 shares of Joby Aviation stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $5.14, for a total transaction of $137,623.50. Following the sale, the insider now directly owns 18,035 shares in the company, valued at $92,699.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Didier Papadopoulos sold 6,025 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $5.33, for a total transaction of $32,113.25. Following the completion of the transaction, the insider now directly owns 47,474 shares in the company, valued at $253,036.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 525,499 shares of company stock worth $2,667,151. 32.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Joby Aviation

Several hedge funds have recently bought and sold shares of the company. Flaharty Asset Management LLC boosted its holdings in Joby Aviation by 25.0% in the 2nd quarter. Flaharty Asset Management LLC now owns 15,000 shares of the company’s stock valued at $76,000 after purchasing an additional 3,000 shares during the period. ProShare Advisors LLC grew its position in Joby Aviation by 8.5% during the first quarter. ProShare Advisors LLC now owns 50,103 shares of the company’s stock worth $269,000 after buying an additional 3,942 shares in the last quarter. Amalgamated Bank increased its stake in Joby Aviation by 46.2% in the 2nd quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock worth $71,000 after acquiring an additional 4,391 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Joby Aviation by 218.3% in the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Cetera Advisors LLC boosted its position in shares of 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 during the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

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.