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

Joby Aviation, Inc. (NYSE:JOBY) saw some unusual options trading activity on Tuesday. Investors purchased 87,234 call options on the company. This is an increase of approximately 567% compared to the typical volume of 13,086 call options.

Analysts Set New Price Targets

JOBY has been the subject of several research analyst reports. Canaccord Genuity Group lowered their price objective 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. Needham & Company LLC initiated coverage on Joby Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $8.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their price target on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 30th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Joby Aviation has a consensus rating of “Moderate Buy” and a consensus target price of $8.35.

Joby Aviation Stock Performance

Joby Aviation stock opened at $7.91 on Wednesday. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of -11.29 and a beta of 1.97. Joby Aviation has a 52-week low of $4.50 and a 52-week high of $8.43. The firm has a 50 day moving average price of $5.65 and a two-hundred day moving average price of $5.42.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The firm had revenue of $0.28 million for the quarter, compared to the consensus estimate 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 in the prior year, the business earned ($0.13) EPS. As a group, equities research analysts predict that Joby Aviation will post -0.69 EPS for the current fiscal year.

Insider Activity

In other news, insider Didier Papadopoulos sold 6,025 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 47,474 shares in the company, valued at approximately $253,036.42. This represents a 11.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul Cahill Sciarra sold 166,666 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $5.15, for a total value of $858,329.90. Following the completion of the transaction, the director now owns 59,828,059 shares in the company, valued at $308,114,503.85. The trade was a 0.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 535,526 shares of company stock valued at $2,745,708. 32.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Joby Aviation

A number of institutional investors and hedge funds have recently modified their holdings of the business. Larson Financial Group LLC increased its stake 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. Nisa Investment Advisors LLC raised its holdings in shares of Joby Aviation by 216.3% during the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after purchasing an additional 5,840 shares during the period. Empowered Funds LLC bought a new position in shares of Joby Aviation during the 3rd quarter worth about $51,000. Sound Income Strategies LLC grew its stake in shares of Joby Aviation by 3,311.3% in the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after buying an additional 10,000 shares during the period. Finally, Integris Wealth Management LLC bought a new stake in Joby Aviation in the 2nd quarter valued at about $54,000. 45.54% of the stock is currently owned by 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.