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

Key Points

• Traders bought 39,798 call options on Joby on Monday — roughly a 40% increase versus typical daily call volume, indicating unusually large bullish options activity.
• Joby beat the quarter's estimates with EPS of -$0.14 (vs. -$0.20 expected) and revenue of $30.84M (vs. $16.88M expected), with revenue up roughly 5,506% year-over-year.
• Analysts remain mixed and cautious: Joby has a consensus rating of "Reduce" and an average price target of $13.81, with individual ratings spanning Buy to Sell.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) was the target of unusually large options trading on Monday. Stock traders acquired 39,798 call options on the stock. This is an increase of 40% compared to the typical volume of 28,388 call options.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Joby Aviation in a research report on Tuesday, April 21st. JPMorgan Chase & Co. decreased their target price on Joby Aviation from $8.00 to $7.00 and set an "underweight" rating for the company in a research report on Thursday, February 26th. Wall Street Zen raised Joby Aviation from a "strong sell" rating to a "sell" rating in a research report on Saturday, April 18th. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $15.50 target price on shares of Joby Aviation in a research report on Tuesday, February 3rd. Finally, Oppenheimer set a $18.00 target price on Joby Aviation in a research report on Thursday, February 26th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Joby Aviation presently has a consensus rating of "Reduce" and an average target price of $13.81.

Joby Aviation Stock Performance

Shares of NYSE:JOBY traded up $0.11 during midday trading on Monday, hitting $8.61. 16,090,102 shares of the stock were exchanged, compared to its average volume of 25,959,205. Joby Aviation has a 52-week low of $6.14 and a 52-week high of $20.95. The business's fifty day simple moving average is $9.27 and its two-hundred day simple moving average is $12.57. The company has a market capitalization of $7.85 billion, a PE ratio of -7.55 and a beta of 2.68.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its earnings results on Wednesday, February 25th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.06. The company had revenue of $30.84 million for the quarter, compared to the consensus estimate of $16.88 million. During the same quarter last year, the business earned ($0.34) earnings per share. Joby Aviation's quarterly revenue was up 5506.5% on a year-over-year basis. As a group, equities analysts anticipate that Joby Aviation will post -0.82 EPS for the current year.

Insider Buying and Selling at Joby Aviation

In other news, insider Eric Allison sold 27,698 shares of the firm's stock in a transaction on Monday, April 13th. The stock was sold at an average price of $8.20, for a total transaction of $227,123.60. Following the completion of the sale, the insider directly owned 750,852 shares of the company's stock, valued at $6,156,986.40. This trade represents a 3.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kate Dehoff sold 14,295 shares of the firm's stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $8.73, for a total value of $124,795.35. Following the completion of the sale, the insider directly owned 163,567 shares of the company's stock, valued at approximately $1,427,939.91. This trade represents a 8.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 1,774,220 shares of company stock worth $17,386,938. 32.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC raised its holdings in Joby Aviation by 15.9% during the first quarter. Private Advisor Group LLC now owns 39,925 shares of the company's stock valued at $330,000 after buying an additional 5,482 shares in the last quarter. Leonteq Securities AG raised its holdings in Joby Aviation by 295.2% during the first quarter. Leonteq Securities AG now owns 4,351 shares of the company's stock valued at $36,000 after buying an additional 3,250 shares in the last quarter. Strs Ohio raised its holdings in Joby Aviation by 2.5% during the first quarter. Strs Ohio now owns 50,000 shares of the company's stock valued at $413,000 after buying an additional 1,200 shares in the last quarter. USS Investment Management Ltd bought a new position in Joby Aviation during the first quarter valued at about $8,868,000. Finally, Harbor Investment Advisory LLC raised its holdings in Joby Aviation by 28.1% during the first quarter. Harbor Investment Advisory LLC now owns 12,293 shares of the company's stock valued at $102,000 after buying an additional 2,700 shares in the last quarter. 52.85% of the stock is currently owned by institutional investors.

About Joby Aviation

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company's core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby's eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company's flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.

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