Joby Aviation Target of Unusually Large Options Trading (NYSE:JOBY)

Joby Aviation, Inc. (NYSE:JOBY) was the target of unusually large options trading on Wednesday. Stock investors acquired 27,169 call options on the stock. This represents an increase of 64% compared to the typical volume of 16,519 call options.

Insiders Place Their Bets

In other news, insider Matthew Field sold 5,643 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $5.96, for a total transaction of $33,632.28. Following the transaction, the insider now directly owns 293,143 shares of the company’s stock, valued at approximately $1,747,132.28. This represents a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gregory Bowles sold 26,775 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $5.14, for a total value of $137,623.50. Following the completion of the sale, the insider now directly owns 18,035 shares of the company’s stock, valued at approximately $92,699.90. This represents a 59.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 535,506 shares of company stock worth $2,759,533. 32.40% of the stock is currently owned by company insiders.

Institutional Trading of Joby Aviation

A number of institutional investors have recently modified their holdings of the business. Larson Financial Group LLC lifted its holdings in shares of Joby Aviation by 218.3% in the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after purchasing an additional 5,000 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Joby Aviation by 216.3% during the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after buying an additional 5,840 shares during the period. Empowered Funds LLC purchased a new position in shares of Joby Aviation during the 3rd quarter worth about $51,000. Sound Income Strategies LLC boosted its holdings 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 purchasing an additional 10,000 shares during the last quarter. Finally, Dakota Wealth Management acquired a new position in Joby Aviation in the second quarter valued at $56,000. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Joby Aviation Stock Down 8.9 %

NYSE:JOBY opened at $7.23 on Friday. The stock’s 50 day moving average price is $6.58 and its 200 day moving average price is $5.78. The company has a market capitalization of $5.53 billion, a PE ratio of -10.33 and a beta of 2.32. Joby Aviation has a 52-week low of $4.50 and a 52-week high of $9.33.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. The company had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. During the same period in the prior year, the company earned ($0.13) earnings per share. As a group, sell-side analysts anticipate that Joby Aviation will post -0.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on JOBY shares. Canaccord Genuity Group decreased their price target on Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a report on Tuesday, October 29th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a report on Monday, September 30th. Needham & Company LLC began coverage on shares of Joby Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $8.00 price target on the stock. JPMorgan Chase & Co. cut their target price 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, HC Wainwright reiterated a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus 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.