Joby Aviation Target of Unusually Large Options Trading (NYSE:JOBY)

Joby Aviation, Inc. (NYSE:JOBY) saw some unusual options trading on Friday. Stock investors bought 33,684 call options on the company. This represents an increase of 81% compared to the typical daily volume of 18,639 call options.

Joby Aviation Stock Up 19.7 %

Shares of JOBY traded up $1.59 during trading hours on Friday, hitting $9.68. The company had a trading volume of 16,844,743 shares, compared to its average volume of 14,191,592. The firm has a market cap of $7.41 billion, a price-to-earnings ratio of -13.83 and a beta of 2.32. The business has a fifty day moving average of $7.09 and a 200-day moving average of $6.01. Joby Aviation has a 12 month low of $4.50 and a 12 month high of $9.76.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data 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). The firm had revenue of $0.28 million for 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 prior year, the firm earned ($0.13) EPS. On average, equities analysts expect that Joby Aviation will post -0.69 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on JOBY. JPMorgan Chase & Co. dropped their price objective on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 30th. Canaccord Genuity Group lowered their price objective on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Needham & Company LLC assumed coverage on shares of Joby Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $8.00 target price for the company. Finally, HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.35.

Insider Transactions at Joby Aviation

In related news, insider Eric Allison sold 27,817 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $5.56, for a total value of $154,662.52. Following the completion of the transaction, the insider now owns 463,151 shares of the company’s stock, valued at approximately $2,575,119.56. This trade represents a 5.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $33,632.28. Following the sale, the insider now directly owns 293,143 shares in the company, valued at $1,747,132.28. This trade represents a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,390 shares of company stock valued at $466,229 over the last three months. Company insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ieq Capital LLC grew its position 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 worth $22,652,000 after purchasing an additional 1,807,054 shares in the last quarter. State Street Corp increased its stake in Joby Aviation by 9.5% during the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company’s stock worth $47,144,000 after acquiring an additional 812,248 shares during the period. Geode Capital Management LLC raised its holdings in Joby Aviation by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock valued at $47,245,000 after acquiring an additional 670,852 shares in the last quarter. Susquehanna Fundamental Investments LLC lifted its position 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 acquiring an additional 616,579 shares during the period. Finally, Bank of New York Mellon Corp grew 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 worth $7,521,000 after purchasing an additional 435,069 shares in the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

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.