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

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) was the target of unusually large options trading on Thursday. Stock investors bought 18,794 call options on the stock. This is an increase of approximately 56% compared to the average daily volume of 12,040 call options.

Insider Transactions at Joby Aviation

In other Joby Aviation news, insider Bonny W. Simi sold 9,695 shares of Joby Aviation stock in a transaction on Monday, March 24th. The shares were sold at an average price of $6.78, for a total transaction of $65,732.10. Following the completion of the sale, the insider now owns 146,941 shares of the company's stock, valued at $996,259.98. This trade represents a 6.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Paul Cahill Sciarra sold 166,667 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $6.78, for a total transaction of $1,130,002.26. Following the completion of the transaction, the director now directly owns 58,494,728 shares in the company, valued at $396,594,255.84. This trade represents a 0.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 750,950 shares of company stock valued at $4,640,619 over the last quarter. Company insiders own 28.50% of the company's stock.

Institutional Trading of Joby Aviation

A number of hedge funds have recently bought and sold shares of JOBY. Whittier Trust Co. bought a new stake in shares of Joby Aviation in the 4th quarter worth approximately $38,000. Allworth Financial LP boosted its stake in Joby Aviation by 200.6% during the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company's stock worth $44,000 after buying an additional 3,320 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new position in shares of Joby Aviation in the 4th quarter valued at $41,000. Toronto Dominion Bank acquired a new stake in shares of Joby Aviation during the 4th quarter valued at about $41,000. Finally, Carolinas Wealth Consulting LLC acquired a new position in Joby Aviation in the fourth quarter worth about $41,000. 52.85% of the stock is owned by institutional investors.

Joby Aviation Stock Down 8.3%

Shares of NYSE:JOBY traded down $0.80 during trading on Thursday, reaching $8.83. The stock had a trading volume of 40,763,523 shares, compared to its average volume of 13,795,141. The stock has a fifty day simple moving average of $6.90 and a two-hundred day simple moving average of $7.37. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of -12.61 and a beta of 2.39. Joby Aviation has a 52 week low of $4.66 and a 52 week high of $10.72.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. On average, analysts forecast that Joby Aviation will post -0.69 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. JPMorgan Chase & Co. dropped their target price on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a research report on Thursday, February 27th. HC Wainwright restated a "buy" rating and issued a $13.00 price objective (up previously from $9.00) on shares of Joby Aviation in a report on Monday. Cantor Fitzgerald cut shares of Joby Aviation from an "overweight" rating to a "neutral" rating and set a $9.00 target price for the company. in a research note on Thursday. Needham & Company LLC restated a "buy" rating and set a $10.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, Morgan Stanley restated an "equal weight" rating and set a $7.00 price target (down previously from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Joby Aviation currently has a consensus rating of "Hold" and an average price target 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.