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

Joby Aviation, Inc. (NYSE:JOBY) was the target of some unusual options trading on Friday. Traders purchased 33,684 call options on the stock. This is an increase of 81% compared to the typical volume of 18,639 call options.

Joby Aviation Price Performance

Shares of Joby Aviation stock opened at $9.77 on Friday. The stock has a market cap of $7.47 billion, a price-to-earnings ratio of -13.96 and a beta of 2.32. The firm’s 50-day moving average is $7.18 and its two-hundred day moving average is $6.04. Joby Aviation has a 1 year low of $4.50 and a 1 year high of $9.82.

Joby Aviation (NYSE:JOBY) last released 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 business had revenue of $0.28 million for the quarter, compared to the consensus estimate 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 in the prior year, the business posted ($0.13) earnings per share. On average, equities analysts expect that Joby Aviation will post -0.69 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Activity

In other Joby Aviation news, insider Didier Papadopoulos sold 6,005 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $7.65, for a total value of $45,938.25. Following the completion of the sale, the insider now owns 54,776 shares of the company’s stock, valued at $419,036.40. This trade represents a 9.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kate Dehoff sold 27,898 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $5.50, for a total value of $153,439.00. Following the transaction, the insider now directly owns 199,413 shares in the company, valued at approximately $1,096,771.50. This represents a 12.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,111 shares of company stock valued at $674,055 in the last ninety days. Insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ieq Capital LLC boosted its position in Joby Aviation by 68.6% during the second quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock valued at $22,652,000 after purchasing an additional 1,807,054 shares in the last quarter. State Street Corp grew its position in shares of Joby Aviation by 9.5% in the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company’s stock worth $47,144,000 after buying an additional 812,248 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Joby Aviation by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after acquiring an additional 670,852 shares in the last quarter. Susquehanna Fundamental Investments LLC lifted its position in Joby Aviation by 1,018.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after acquiring an additional 616,579 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Joby Aviation by 41.8% in the second quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock valued at $7,521,000 after acquiring an additional 435,069 shares in the last quarter. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

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.