Stock Traders Purchase High Volume of Call Options on Joby Aviation (NYSE:JOBY)

Joby Aviation, Inc. (NYSE:JOBY) saw some unusual options trading on Tuesday. Stock traders bought 47,990 call options on the stock. This represents an increase of 457% compared to the typical volume of 8,618 call options.

Wall Street Analyst Weigh In

JOBY has been the subject of a number of recent research reports. HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. upped their price target on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Canaccord Genuity Group reiterated a “buy” rating and issued a $10.50 price objective on shares of Joby Aviation in a research report on Friday, October 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a research note on Monday, September 30th.

Joby Aviation Stock Performance

Shares of JOBY stock traded up $0.58 during mid-day trading on Tuesday, hitting $6.07. 20,189,779 shares of the stock traded hands, compared to its average volume of 6,151,160. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of -8.00 and a beta of 1.97. The company’s 50-day simple moving average is $5.26 and its 200-day simple moving average is $5.25. Joby Aviation has a twelve month low of $4.50 and a twelve month high of $7.69.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.18). The business had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.28 million. During the same period in the previous year, the company posted ($0.17) earnings per share. Analysts forecast that Joby Aviation will post -0.69 earnings per share for the current year.

Insider Activity

In related news, insider Matthew Field sold 5,643 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $5.96, for a total value of $33,632.28. Following the sale, the insider now directly owns 293,143 shares of the company’s stock, valued at $1,747,132.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Didier Papadopoulos sold 6,025 shares of the business’s 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 in the company, valued at approximately $253,036.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Matthew Field sold 5,643 shares of the stock in a transaction on 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 525,499 shares of company stock worth $2,667,151. 32.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Joby Aviation by 9.1% in the first quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after buying an additional 2,889,012 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Joby Aviation during the 1st quarter worth approximately $15,357,000. Ieq Capital LLC raised its stake in Joby Aviation by 68.6% during the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock valued at $22,652,000 after purchasing an additional 1,807,054 shares during the period. Susquehanna Fundamental Investments LLC lifted its holdings in shares of Joby Aviation by 1,018.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after purchasing an additional 616,579 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Joby Aviation by 41.8% in the second quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock worth $7,521,000 after buying an additional 435,069 shares during the period. Institutional investors and hedge funds own 45.54% of the company’s stock.

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.