Joby Aviation Target of Unusually Large Options Trading (NYSE:JOBY)

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) was the target of some unusual options trading on Tuesday. Investors purchased 29,368 call options on the stock. This represents an increase of 74% compared to the typical daily volume of 16,846 call options.

Insiders Place Their Bets

In other news, insider Kate Dehoff sold 20,823 shares of Joby Aviation stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $13.67, for a total transaction of $284,650.41. Following the sale, the insider owned 202,276 shares in the company, valued at approximately $2,765,112.92. The trade was a 9.33% decrease in their ownership of the stock. 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 500,001 shares of Joby Aviation stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $12.38, for a total value of $6,190,012.38. Following the sale, the director owned 57,328,059 shares in the company, valued at $709,721,370.42. This trade represents a 0.86% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,034,320 shares of company stock valued at $20,211,444. 28.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors have recently modified their holdings of the company. Signaturefd LLC boosted its stake in shares of Joby Aviation by 459.6% during the 2nd quarter. Signaturefd LLC now owns 9,362 shares of the company's stock worth $99,000 after acquiring an additional 7,689 shares in the last quarter. Dakota Wealth Management boosted its stake in shares of Joby Aviation by 75.7% during the 2nd quarter. Dakota Wealth Management now owns 19,179 shares of the company's stock worth $202,000 after acquiring an additional 8,264 shares in the last quarter. Cobblestone Asset Management LLC boosted its stake in shares of Joby Aviation by 4.6% during the 2nd quarter. Cobblestone Asset Management LLC now owns 64,250 shares of the company's stock worth $678,000 after acquiring an additional 2,850 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Joby Aviation by 63.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 37,788 shares of the company's stock worth $399,000 after acquiring an additional 14,676 shares in the last quarter. Finally, NBC Securities Inc. boosted its stake in shares of Joby Aviation by 35.1% during the 2nd quarter. NBC Securities Inc. now owns 142,855 shares of the company's stock worth $1,507,000 after acquiring an additional 37,120 shares in the last quarter. Hedge funds and other institutional investors own 52.85% of the company's stock.

Joby Aviation Stock Performance

JOBY traded up $0.07 during trading on Friday, reaching $17.79. The company's stock had a trading volume of 59,934,890 shares, compared to its average volume of 16,244,784. Joby Aviation has a 52-week low of $4.66 and a 52-week high of $18.30. The company's fifty day moving average price is $9.18 and its 200-day moving average price is $7.81. The company has a market capitalization of $14.09 billion, a price-to-earnings ratio of -21.18 and a beta of 2.47.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 63.27% and a negative net margin of 447,083.78%. During the same period last year, the firm posted ($0.14) EPS. Equities analysts predict that Joby Aviation will post -0.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. HC Wainwright reiterated a "buy" rating and set a $13.00 target price (up previously from $9.00) on shares of Joby Aviation in a research report on Monday, June 9th. Cantor Fitzgerald restated a "neutral" rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Monday, June 23rd. Canaccord Genuity Group restated a "buy" rating and issued a $12.00 price target on shares of Joby Aviation in a research report on Wednesday, June 4th. Morgan Stanley restated an "equal weight" rating and issued a $7.00 price target (down previously from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. Finally, Wall Street Zen upgraded Joby Aviation from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Joby Aviation presently has a consensus rating of "Hold" and an average target price of $9.33.

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.