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

Joby Aviation, Inc. (NYSE:JOBY) was the target of some unusual options trading activity on Friday. Traders purchased 33,684 call options on the stock. This represents an increase of approximately 81% compared to the average volume of 18,639 call options.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on JOBY shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a research report on Monday, September 30th. Needham & Company LLC began coverage on Joby Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $8.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. 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. Finally, HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.35.

Insider Buying and Selling at Joby Aviation

In other news, insider Gregory Bowles sold 7,748 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $8.08, for a total transaction of $62,603.84. Following the completion of the sale, the insider now owns 29,235 shares of the company’s stock, valued at $236,218.80. This represents a 20.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Matthew Field sold 5,643 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 293,143 shares in the company, valued at approximately $1,747,132.28. The trade was a 1.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,111 shares of company stock worth $674,055. Company insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC grew its holdings in Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after buying an additional 5,000 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Joby Aviation in the third quarter valued at $51,000. Sound Income Strategies LLC increased its position in Joby Aviation by 3,311.3% in the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock worth $52,000 after purchasing an additional 10,000 shares during the last quarter. International Assets Investment Management LLC raised its stake in Joby Aviation by 403.0% during the third quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock valued at $58,000 after purchasing an additional 9,188 shares in the last quarter. Finally, Choreo LLC bought a new position in Joby Aviation during the second quarter valued at $60,000. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Joby Aviation Price Performance

Shares of JOBY opened at $9.77 on Friday. The firm has a market cap of $7.47 billion, a P/E ratio of -13.96 and a beta of 2.32. Joby Aviation has a 1 year low of $4.50 and a 1 year high of $9.82. The company has a 50 day simple moving average of $7.18 and a two-hundred day simple moving average of $6.04.

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

About Joby Aviation

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.