Joby Aviation Sees Unusually Large Options Volume (NYSE:JOBY)

Joby Aviation, Inc. (NYSE:JOBY) was the target of some unusual options trading on Tuesday. Stock traders purchased 47,990 call options on the company. This represents an increase of 457% compared to the average daily volume of 8,618 call options.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on JOBY shares. Canaccord Genuity Group restated a “buy” rating and issued a $10.50 price target on shares of Joby Aviation in a research note on Friday, October 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 30th. JPMorgan Chase & Co. upped their price target on Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, October 2nd.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, Director Paul Cahill Sciarra sold 166,666 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $5.15, for a total transaction of $858,329.90. Following the completion of the sale, the director now directly owns 59,828,059 shares in the company, valued at $308,114,503.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Paul Cahill Sciarra sold 166,666 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $5.15, for a total transaction of $858,329.90. Following the completion of the transaction, the director now directly owns 59,828,059 shares in the company, valued at approximately $308,114,503.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Matthew Field sold 11,764 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $5.78, for a total value of $67,995.92. Following the transaction, the insider now owns 298,786 shares of the company’s stock, valued at approximately $1,726,983.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 525,499 shares of company stock worth $2,667,151 in the last three months. 32.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Joby Aviation by 9.1% in the first 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 last quarter. Ieq Capital LLC raised its stake in shares of Joby Aviation by 68.6% in the second 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 during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Joby Aviation in the first quarter worth about $15,357,000. Bank of New York Mellon Corp raised its stake in shares of 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 worth $7,521,000 after purchasing an additional 435,069 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its stake in shares of Joby Aviation by 1,018.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock worth $3,453,000 after purchasing an additional 616,579 shares during the last quarter. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

Joby Aviation Trading Up 1.0 %

JOBY opened at $6.24 on Thursday. Joby Aviation has a 12-month low of $4.50 and a 12-month high of $7.69. The business’s fifty day simple moving average is $5.31 and its 200-day simple moving average is $5.27. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of -8.21 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.18). The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.28 million. During the same period in the previous year, the business earned ($0.17) EPS. On average, equities research analysts predict that Joby Aviation will post -0.69 EPS for the current year.

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.