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

Joby Aviation, Inc. (NYSE:JOBY) saw unusually large options trading on Tuesday. Stock investors purchased 87,234 call options on the company. This represents an increase of 567% compared to the average volume of 13,086 call options.

Analyst Ratings Changes

JOBY has been the topic of a number of analyst reports. Needham & Company LLC assumed coverage on shares of Joby Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $8.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a report on Monday, September 30th. Canaccord Genuity Group reduced their price objective on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research report on Tuesday, October 29th. HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. decreased their price target on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Joby Aviation has an average rating of “Moderate Buy” and an average price target of $8.35.

Insider Activity at Joby Aviation

In other news, insider Didier Papadopoulos sold 6,025 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $5.33, for a total value of $32,113.25. Following the completion of the sale, the insider now directly owns 47,474 shares of the company’s stock, valued at $253,036.42. This represents a 11.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul Cahill Sciarra sold 166,666 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $5.15, for a total value of $858,329.90. Following the completion of the transaction, the director now owns 59,828,059 shares in the company, valued at $308,114,503.85. This represents a 0.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 535,526 shares of company stock valued at $2,745,708. 32.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in JOBY. Tidal Investments LLC increased its holdings in Joby Aviation by 13.7% in the 3rd quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock worth $147,000 after acquiring an additional 3,522 shares during the last quarter. Geode Capital Management LLC boosted its position in Joby Aviation by 7.7% during the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after purchasing an additional 670,852 shares during the period. Kensington Investment Counsel LLC increased its stake in shares of Joby Aviation by 12.0% in the third quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock worth $172,000 after purchasing an additional 3,653 shares in the last quarter. EP Wealth Advisors LLC raised its position in shares of Joby Aviation by 15.4% in the third quarter. EP Wealth Advisors LLC now owns 37,369 shares of the company’s stock valued at $188,000 after purchasing an additional 5,000 shares during the period. Finally, State Street Corp boosted its holdings in Joby Aviation by 9.5% in the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company’s stock worth $47,144,000 after buying an additional 812,248 shares during the period. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Joby Aviation Stock Down 3.6 %

JOBY opened at $7.91 on Wednesday. Joby Aviation has a twelve month low of $4.50 and a twelve month high of $8.43. The company’s 50-day moving average price is $5.65 and its two-hundred day moving average price is $5.42. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of -11.29 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) EPS 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 during the quarter, compared to analysts’ expectations of $0.06 million. During the same quarter in the previous year, the company posted ($0.13) EPS. As a group, sell-side analysts anticipate that Joby Aviation will post -0.69 earnings per share for the current year.

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.