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

Joby Aviation, Inc. (NYSE:JOBY) was the recipient of some unusual options trading activity on Thursday. Investors bought 18,794 call options on the company. This is an increase of approximately 56% compared to the average daily volume of 12,040 call options.

Joby Aviation Stock Down 3.1%

Joby Aviation stock opened at $8.60 on Friday. The business has a fifty day moving average of $6.97 and a two-hundred day moving average of $7.37. The firm has a market cap of $6.81 billion, a P/E ratio of -12.28 and a beta of 2.39. Joby Aviation has a twelve month low of $4.66 and a twelve month high of $10.72.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter last year, the company earned ($0.14) earnings per share. Equities analysts expect that Joby Aviation will post -0.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

JOBY has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price target (up previously from $9.00) on shares of Joby Aviation in a research note on Monday, June 9th. Morgan Stanley reaffirmed an “equal weight” rating and set a $7.00 price target (down previously from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. Cantor Fitzgerald downgraded shares of Joby Aviation from an “overweight” rating to a “neutral” rating and set a $9.00 price target for the company. in a research note on Thursday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $12.00 price target on shares of Joby Aviation in a research note on Wednesday, June 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $9.33.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Bonny W. Simi sold 9,695 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $6.78, for a total value of $65,732.10. Following the completion of the sale, the insider now owns 146,941 shares of the company’s stock, valued at $996,259.98. This trade represents a 6.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Motor Corp/ Toyota acquired 49,701,790 shares of the firm’s stock in a transaction on Thursday, May 22nd. The stock was purchased at an average cost of $5.03 per share, with a total value of $250,000,003.70. Following the purchase, the director now owns 122,573,621 shares of the company’s stock, valued at $616,545,313.63. The trade was a 68.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 750,950 shares of company stock valued at $4,640,619. Insiders own 28.50% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

Large investors have recently made changes to their positions in the business. Whittier Trust Co. acquired a new position in shares of Joby Aviation during the fourth quarter worth $38,000. Allworth Financial LP increased its position in shares of Joby Aviation by 200.6% in the 4th quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock valued at $44,000 after acquiring an additional 3,320 shares during the period. Compagnie Lombard Odier SCmA acquired a new position in shares of Joby Aviation in the 4th quarter valued at $41,000. Toronto Dominion Bank acquired a new position in shares of Joby Aviation in the 4th quarter valued at $41,000. Finally, Carolinas Wealth Consulting LLC acquired a new position in shares of Joby Aviation in the 4th quarter valued at $41,000. 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.