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

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) was the target of some unusual options trading on Monday. Traders acquired 39,347 call options on the company. This is an increase of approximately 209% compared to the average daily volume of 12,746 call options.

Joby Aviation Trading Up 11.4%

JOBY stock traded up $1.08 during midday trading on Monday, hitting $10.52. The company had a trading volume of 69,260,498 shares, compared to its average volume of 14,685,196. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of -12.52 and a beta of 2.39. Joby Aviation has a 52 week low of $4.66 and a 52 week high of $11.15. The stock's 50 day moving average price is $7.56 and its 200 day moving average price is $7.41.

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

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, Director Paul Cahill Sciarra sold 333,334 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $8.40, for a total value of $2,800,005.60. Following the sale, the director directly owned 57,828,060 shares in the company, valued at $485,755,704. This represents a 0.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bonny W. Simi sold 12,382 shares of the firm's stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $5.81, for a total transaction of $71,939.42. Following the completion of the transaction, the insider directly owned 203,588 shares of the company's stock, valued at approximately $1,182,846.28. The trade was a 5.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 912,605 shares of company stock worth $6,286,569. 32.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Rhumbline Advisers lifted its holdings in shares of Joby Aviation by 5.4% during the first quarter. Rhumbline Advisers now owns 626,743 shares of the company's stock valued at $3,773,000 after purchasing an additional 32,324 shares during the last quarter. Strs Ohio purchased a new position in Joby Aviation during the first quarter valued at $37,000. Intech Investment Management LLC boosted its holdings in Joby Aviation by 70.4% in the first quarter. Intech Investment Management LLC now owns 307,135 shares of the company's stock worth $1,849,000 after acquiring an additional 126,908 shares in the last quarter. Integrity Alliance LLC. purchased a new stake in shares of Joby Aviation in the first quarter worth $124,000. Finally, PharVision Advisers LLC bought a new position in shares of Joby Aviation during the first quarter valued at $61,000. Hedge funds and other institutional investors own 52.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Cantor Fitzgerald reissued a "neutral" rating and set a $9.00 price objective on shares of Joby Aviation in a research note on Monday, June 23rd. Morgan Stanley reissued an "equal weight" rating and set a $7.00 price objective (down previously from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. HC Wainwright reissued a "buy" rating and issued a $13.00 price target (up previously from $9.00) on shares of Joby Aviation in a report on Monday, June 9th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $12.00 target price on shares of Joby Aviation in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus 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.