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

Joby Aviation, Inc. (NYSE:JOBY) saw some unusual options trading on Monday. Investors bought 49,401 call options on the stock. This is an increase of approximately 344% compared to the typical daily volume of 11,136 call options.

Joby Aviation Stock Up 20.3 %

JOBY stock opened at $6.27 on Tuesday. Joby Aviation has a 52 week low of $4.50 and a 52 week high of $7.69. The stock has a market capitalization of $4.49 billion, a PE ratio of -8.27 and a beta of 1.97. The firm has a 50 day moving average of $5.31 and a 200 day moving average of $5.31.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results 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). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The business 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 business posted ($0.13) earnings per share. On average, equities research analysts expect that Joby Aviation will post -0.69 earnings per share for the current year.

Insider Buying and Selling at Joby Aviation

In other news, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total value of $1,212,500.00. Following the transaction, the chief executive officer now directly owns 32,674,274 shares in the company, valued at approximately $158,470,228.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Gregory Bowles sold 26,775 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $5.14, for a total value of $137,623.50. Following the transaction, the insider now owns 18,035 shares of the company’s stock, valued at $92,699.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the transaction, the chief executive officer now owns 32,674,274 shares in the company, valued at approximately $158,470,228.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 525,499 shares of company stock valued at $2,667,151 in the last quarter. 32.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Joby Aviation

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Joby Aviation by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after buying an additional 2,889,012 shares during the last quarter. Ieq Capital LLC increased its holdings in shares of Joby Aviation by 68.6% during the 2nd 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. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Joby Aviation during the 1st quarter valued at approximately $15,357,000. Bank of New York Mellon Corp increased its holdings in shares of Joby Aviation by 41.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock valued at $7,521,000 after purchasing an additional 435,069 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC increased its holdings in shares of Joby Aviation by 1,018.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after purchasing an additional 616,579 shares in the last quarter. 45.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.