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

Joby Aviation, Inc. (NYSE:JOBY) was the recipient of unusually large options trading activity on Tuesday. Traders purchased 87,234 call options on the stock. This represents an increase of approximately 567% compared to the typical volume of 13,086 call options.

Joby Aviation Stock Up 15.5 %

NYSE JOBY opened at $8.19 on Tuesday. The stock’s 50-day simple moving average is $5.60 and its two-hundred day simple moving average is $5.40. Joby Aviation has a twelve month low of $4.50 and a twelve month high of $8.43. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of -11.70 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data 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 business had revenue of $0.28 million during 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 quarter in the previous year, the firm posted ($0.13) earnings per share. On average, equities analysts expect that Joby Aviation will post -0.69 earnings per share for the current fiscal year.

Insider Transactions at Joby Aviation

In other news, insider Didier Papadopoulos sold 6,025 shares of Joby Aviation 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 sale, the insider now directly owns 47,474 shares in the company, valued at $253,036.42. The trade was a 11.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kate Dehoff sold 27,898 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $5.50, for a total transaction of $153,439.00. Following the transaction, the insider now owns 199,413 shares of the company’s stock, valued at approximately $1,096,771.50. The trade was a 12.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 527,778 shares of company stock worth $2,683,104 in the last quarter. 32.40% of the stock is currently owned by corporate 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 JOBY. Tidal Investments LLC increased its holdings in Joby Aviation by 13.7% during the 3rd quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock valued at $147,000 after purchasing an additional 3,522 shares during the period. Geode Capital Management LLC increased its stake in shares of Joby Aviation by 7.7% during the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock valued at $47,245,000 after buying an additional 670,852 shares during the period. Kensington Investment Counsel LLC raised its holdings in shares of Joby Aviation by 12.0% during the third quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock valued at $172,000 after acquiring an additional 3,653 shares in the last quarter. EP Wealth Advisors LLC lifted its stake in Joby Aviation by 15.4% in the third quarter. EP Wealth Advisors LLC now owns 37,369 shares of the company’s stock worth $188,000 after acquiring an additional 5,000 shares during the period. Finally, State Street Corp boosted its holdings in Joby Aviation by 9.5% in the third quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after acquiring an additional 812,248 shares in the last quarter. 45.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on JOBY shares. Canaccord Genuity Group lowered their price objective on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 30th. 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 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 report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. cut their price target on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.