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

Joby Aviation, Inc. (NYSE:JOBY) was the target of unusually large options trading on Tuesday. Investors purchased 47,990 call options on the stock. This represents an increase of 457% compared to the average daily volume of 8,618 call options.

Joby Aviation Price Performance

Shares of NYSE:JOBY traded up $0.58 during trading on Tuesday, reaching $6.07. The stock had a trading volume of 20,189,779 shares, compared to its average volume of 6,151,160. The stock has a market capitalization of $4.30 billion, a PE ratio of -8.00 and a beta of 1.97. Joby Aviation has a 52 week low of $4.50 and a 52 week high of $7.69. The business’s 50-day moving average price is $5.26 and its 200 day moving average price is $5.25.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.18). The business had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.28 million. During the same quarter in the previous year, the firm posted ($0.17) EPS. Analysts forecast that Joby Aviation will post -0.69 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on JOBY shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 30th. JPMorgan Chase & Co. increased their price target on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, October 2nd. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $10.50 target price on shares of Joby Aviation in a report on Friday, October 4th.

Insider Buying and Selling

In other news, insider Matthew Field sold 5,643 shares of Joby Aviation stock in a transaction dated 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 sale, the insider now directly owns 293,143 shares in the company, valued at $1,747,132.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Joby Aviation news, insider Matthew Field sold 5,643 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $5.96, for a total value of $33,632.28. Following the completion of the sale, the insider now owns 293,143 shares of the company’s stock, valued at $1,747,132.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Didier Papadopoulos sold 6,025 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $5.33, for a total value of $32,113.25. Following the transaction, the insider now directly owns 47,474 shares in the company, valued at approximately $253,036.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 525,499 shares of company stock worth $2,667,151. Corporate insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC increased its stake in Joby Aviation by 1,018.5% in the second 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. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Joby Aviation by 215.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,682 shares of the company’s stock valued at $1,965,000 after buying an additional 270,794 shares in the last quarter. Rhumbline Advisers raised its stake in Joby Aviation by 26.7% during the 2nd quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock worth $2,798,000 after buying an additional 115,483 shares during the period. Vanguard Group Inc. raised its position in shares of Joby Aviation by 9.1% during the first quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after purchasing an additional 2,889,012 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Joby Aviation by 84.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 202,223 shares of the company’s stock valued at $1,084,000 after purchasing an additional 92,508 shares in the last quarter. Institutional investors and hedge funds own 45.54% of the company’s stock.

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.