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

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) saw unusually large options trading on Wednesday. Investors acquired 58,788 call options on the company. This represents an increase of approximately 638% compared to the typical daily volume of 7,964 call options.

Analyst Ratings Changes

JOBY has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and set a $10.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. Cantor Fitzgerald restated an "overweight" rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Monday, May 5th. Canaccord Genuity Group upped their price objective on Joby Aviation from $11.50 to $12.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. 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, April 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Joby Aviation currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.67.

Joby Aviation Price Performance

JOBY traded down $0.71 during midday trading on Friday, reaching $7.81. 24,649,099 shares of the company's stock traded hands, compared to its average volume of 12,707,943. Joby Aviation has a 52 week low of $4.66 and a 52 week high of $10.72. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of -11.16 and a beta of 2.34. The firm has a fifty day moving average of $6.45 and a two-hundred day moving average of $7.24.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, beating 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 prior year, the business posted ($0.14) EPS. Sell-side analysts forecast that Joby Aviation will post -0.69 EPS for the current year.

Insider Transactions at Joby Aviation

In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $5.89, for a total value of $1,472,500.00. Following the sale, the chief executive officer now owns 32,275,793 shares of the company's stock, valued at approximately $190,104,420.77. This trade represents a 0.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Motor Corp/ Toyota purchased 49,701,790 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were purchased at an average cost of $5.03 per share, for a total transaction of $250,000,003.70. Following the completion of the purchase, the director now directly owns 122,573,621 shares of the company's stock, valued at approximately $616,545,313.63. This represents a 68.20% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 753,726 shares of company stock worth $4,658,913. Company insiders own 28.50% of the company's stock.

Hedge Funds Weigh In On Joby Aviation

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

Joby Aviation Company Profile

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.