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

Joby Aviation, Inc. (NYSE:JOBY) was the target of some unusual options trading activity on Wednesday. Stock traders purchased 27,169 call options on the company. This represents an increase of approximately 64% compared to the average volume of 16,519 call options.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on JOBY. Needham & Company LLC assumed coverage on shares of Joby Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $8.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 30th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Wednesday. 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 research note on Tuesday, October 29th. Finally, Canaccord Genuity Group lowered their price target on Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research note on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $8.35.

Insider Activity

In related news, Director Paul Cahill Sciarra sold 166,666 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $5.15, for a total transaction of $858,329.90. Following the transaction, the director now directly owns 59,828,059 shares of the company’s stock, valued at approximately $308,114,503.85. The trade was a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matthew Field sold 11,764 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $5.78, for a total value of $67,995.92. Following the sale, the insider now owns 298,786 shares of the company’s stock, valued at $1,726,983.08. The trade was a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 535,506 shares of company stock worth $2,759,533 over the last 90 days. 32.40% of the stock is owned by company insiders.

Institutional Trading of Joby Aviation

Several large investors have recently modified their holdings of JOBY. Larson Financial Group LLC lifted its position in Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after acquiring an additional 5,000 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Joby Aviation by 216.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after purchasing an additional 5,840 shares during the last quarter. Empowered Funds LLC bought a new stake in Joby Aviation during the 3rd quarter valued at approximately $51,000. Sound Income Strategies LLC grew its holdings in 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 last quarter. Finally, Dakota Wealth Management bought a new position in Joby Aviation in the 2nd quarter worth approximately $56,000. 52.85% of the stock is owned by institutional investors.

Joby Aviation Price Performance

NYSE JOBY opened at $7.94 on Thursday. The firm has a market cap of $6.07 billion, a P/E ratio of -11.34 and a beta of 2.32. The stock’s 50-day moving average is $6.54 and its two-hundred day moving average is $5.77. Joby Aviation has a fifty-two week low of $4.50 and a fifty-two week high of $9.33.

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). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The company had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. During the same quarter last year, the firm posted ($0.13) earnings per share. On average, equities analysts expect that Joby Aviation will post -0.69 EPS for the current year.

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.