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

Joby Aviation, Inc. (NYSE:JOBY) was the recipient of some unusual options trading on Thursday. Traders acquired 9,048 call options on the stock. This is an increase of 183% compared to the average volume of 3,192 call options.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Monday, July 1st. JPMorgan Chase & Co. raised shares of Joby Aviation from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research note on Friday, May 3rd.

Joby Aviation Stock Up 6.3 %

Shares of JOBY traded up $0.39 during midday trading on Friday, reaching $6.60. 14,496,887 shares of the stock were exchanged, compared to its average volume of 5,252,447. The stock’s 50 day simple moving average is $5.06 and its 200 day simple moving average is $5.38. Joby Aviation has a twelve month low of $4.50 and a twelve month high of $10.96. The company has a market cap of $4.68 billion, a P/E ratio of -8.59 and a beta of 2.00.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. The company had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.05 million. During the same quarter last year, the business earned ($0.16) EPS. Joby Aviation’s revenue was down 97.5% on a year-over-year basis. As a group, analysts predict that Joby Aviation will post -0.69 earnings per share for the current year.

Insider Activity at Joby Aviation

In related news, insider Matthew Field sold 5,642 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $5.19, for a total transaction of $29,281.98. Following the completion of the sale, the insider now directly owns 294,238 shares in the company, valued at $1,527,095.22. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Joby Aviation news, insider Matthew Field sold 5,642 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $5.19, for a total transaction of $29,281.98. Following the transaction, the insider now owns 294,238 shares in the company, valued at $1,527,095.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joeben Bevirt sold 5,448 shares of the business’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $4.64, for a total value of $25,278.72. Following the transaction, the chief executive officer now directly owns 662,605 shares of the company’s stock, valued at approximately $3,074,487.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 354,975 shares of company stock valued at $1,733,124. Company insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Hedge funds have recently made changes to their positions in the stock. Monterey Private Wealth Inc. bought a new position in Joby Aviation during the 4th quarter worth $67,000. International Assets Investment Management LLC bought a new stake in Joby Aviation in the fourth quarter valued at approximately $73,000. Private Advisor Group LLC bought a new position in Joby Aviation during the 4th quarter worth approximately $77,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Joby Aviation in the 4th quarter worth approximately $86,000. Finally, Apollon Wealth Management LLC bought a new stake in shares of Joby Aviation in the 4th quarter valued at $88,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

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.