Joby Aviation Sees Unusually Large Options Volume (NYSE:JOBY)

Joby Aviation, Inc. (NYSE:JOBY) was the recipient of unusually large options trading activity on Wednesday. Stock traders bought 27,169 call options on the company. This is an increase of approximately 64% compared to the typical volume of 16,519 call options.

Analyst Upgrades and Downgrades

JOBY has been the subject of a number of analyst reports. 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 reiterated an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 30th. JPMorgan Chase & Co. lowered their target price on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. Canaccord Genuity Group reduced their price target on Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Finally, HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a report on Wednesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.35.

Joby Aviation Stock Up 4.5 %

JOBY traded up $0.37 during trading on Wednesday, reaching $8.61. The stock had a trading volume of 13,125,705 shares, compared to its average volume of 8,632,587. The stock has a 50 day moving average of $6.50 and a two-hundred day moving average of $5.76. The firm has a market capitalization of $6.59 billion, a price-to-earnings ratio of -12.24 and a beta of 2.32. Joby Aviation has a 1-year low of $4.50 and a 1-year high of $9.33.

Joby Aviation (NYSE:JOBY) last announced 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 net margin of 42,844.57% and a negative return on equity of 51.76%. The firm had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. During the same period in the prior year, the business earned ($0.13) EPS. On average, research analysts forecast that Joby Aviation will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Gregory Bowles sold 26,775 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $5.14, for a total transaction of $137,623.50. Following the completion of the transaction, the insider now directly owns 18,035 shares of the company’s stock, valued at approximately $92,699.90. This represents a 59.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Didier Papadopoulos sold 6,005 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $7.65, for a total value of $45,938.25. Following the completion of the sale, the insider now directly owns 54,776 shares in the company, valued at approximately $419,036.40. This trade represents a 9.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 535,506 shares of company stock valued at $2,759,533 over the last 90 days. 32.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC grew its holdings in shares of Joby Aviation by 218.3% in 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 increased its stake in Joby Aviation by 216.3% in 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 in the last quarter. Empowered Funds LLC acquired a new stake in Joby Aviation during the 3rd quarter worth about $51,000. Sound Income Strategies LLC lifted its stake in Joby Aviation by 3,311.3% during the third 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 in the last quarter. Finally, Dakota Wealth Management acquired a new position in shares of Joby Aviation in the second quarter worth about $56,000. Institutional investors own 52.85% of the company’s stock.

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.