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

Joby Aviation, Inc. (NYSE:JOBY) was the recipient of some unusual options trading activity on Friday. Stock investors acquired 33,684 call options on the stock. This is an increase of approximately 81% compared to the typical daily volume of 18,639 call options.

Joby Aviation Trading Up 19.7 %

Shares of JOBY traded up $1.59 during trading hours on Friday, hitting $9.68. 16,844,743 shares of the stock traded hands, compared to its average volume of 14,191,592. The business has a fifty day moving average of $7.09 and a 200-day moving average of $6.01. The firm has a market capitalization of $7.41 billion, a PE ratio of -13.83 and a beta of 2.32. Joby Aviation has a 1-year low of $4.50 and a 1-year high of $9.76.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data 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 business had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. During the same quarter in the prior year, the company earned ($0.13) earnings per share. As a group, equities research analysts expect that Joby Aviation will post -0.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on JOBY shares. JPMorgan Chase & Co. reduced their price target on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. Needham & Company LLC started coverage on Joby Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $8.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Wednesday, December 18th. 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. Finally, Canaccord Genuity Group lowered their price objective on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.35.

Insider Activity at Joby Aviation

In other news, insider Eric Allison sold 27,817 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $5.56, for a total transaction of $154,662.52. Following the completion of the sale, the insider now owns 463,151 shares in the company, valued at approximately $2,575,119.56. This represents a 5.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kate Dehoff sold 27,898 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $5.50, for a total value of $153,439.00. Following the completion of the transaction, the insider now directly owns 199,413 shares in the company, valued at $1,096,771.50. The trade was a 12.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,390 shares of company stock valued at $466,229. 32.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of JOBY. Tidal Investments LLC lifted its holdings in Joby Aviation by 13.7% during the third quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock worth $147,000 after acquiring an additional 3,522 shares in the last quarter. Kensington Investment Counsel LLC lifted its holdings in shares of Joby Aviation by 12.0% during the 3rd quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock valued at $172,000 after purchasing an additional 3,653 shares in the last quarter. Amalgamated Bank grew its position in shares of Joby Aviation by 46.2% in the 2nd quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock valued at $71,000 after purchasing an additional 4,391 shares during the period. Larson Financial Group LLC grew its position 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 valued at $37,000 after purchasing an additional 5,000 shares during the period. Finally, EP Wealth Advisors LLC increased its stake in Joby Aviation by 15.4% during the 3rd quarter. EP Wealth Advisors LLC now owns 37,369 shares of the company’s stock worth $188,000 after purchasing an additional 5,000 shares in the last quarter. 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.