Traders Buy High Volume of Joby Aviation Call Options (NYSE:JOBY)

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) saw unusually large options trading activity on Wednesday. Stock investors acquired 27,169 call options on the stock. This is an increase of approximately 64% compared to the average daily volume of 16,519 call options.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on JOBY shares. Needham & Company LLC began coverage on Joby Aviation in a research note on Tuesday, November 19th. They issued a "buy" rating and a $8.00 price objective on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th. JPMorgan Chase & Co. lowered their price objective on shares of Joby Aviation from $6.00 to $5.00 and set a "neutral" rating for the company in a research report on Tuesday, October 29th. Canaccord Genuity Group dropped 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 note on Tuesday, October 29th. Finally, HC Wainwright restated a "buy" rating and set a $9.00 target price on shares of Joby Aviation in a research report on Wednesday. One 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.com, Joby Aviation has an average rating of "Moderate Buy" and a consensus target price of $8.35.

Insider Buying and Selling

In related news, CEO Joeben Bevirt sold 250,000 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total value of $1,212,500.00. Following the transaction, the chief executive officer now directly owns 32,674,274 shares of the company's stock, valued at approximately $158,470,228.90. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul Cahill Sciarra sold 166,666 shares of the business's stock in a transaction on Monday, September 30th. The stock was sold at an average price of $5.15, for a total transaction of $858,329.90. Following the completion of the sale, the director now owns 59,828,059 shares in the company, valued at approximately $308,114,503.85. The trade was a 0.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 535,506 shares of company stock valued at $2,759,533. Company insiders own 32.40% of the company's stock.

Institutional Trading of Joby Aviation

Several institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in 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 buying an additional 5,000 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Joby Aviation by 216.3% during the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company's stock worth $44,000 after acquiring an additional 5,840 shares during the period. Empowered Funds LLC bought a new stake in shares of Joby Aviation during the third quarter valued at approximately $51,000. Sound Income Strategies LLC raised its stake in shares of 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 acquiring an additional 10,000 shares in the last quarter. Finally, Dakota Wealth Management purchased a new stake in shares of Joby Aviation in the second quarter valued at approximately $56,000. Institutional investors own 52.85% of the company's stock.

Joby Aviation Stock Down 3.6 %

JOBY traded down $0.30 during trading on Wednesday, reaching $7.94. The company had a trading volume of 34,567,320 shares, compared to its average volume of 8,723,037. The business has a 50 day simple moving average of $6.54 and a 200-day simple moving average of $5.77. The stock has a market cap of $6.07 billion, a P/E ratio of -11.34 and a beta of 2.32. Joby Aviation has a 52 week low of $4.50 and a 52 week high of $9.33.

Joby Aviation (NYSE:JOBY - Get Free Report) 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 during the quarter, compared to analysts' expectations of $0.06 million. During the same period in the prior year, the company posted ($0.13) EPS. As a group, equities research analysts expect that Joby Aviation will post -0.69 EPS for the current fiscal 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.