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

Joby Aviation, Inc. (NYSE:JOBY) was the recipient of some unusual options trading on Thursday. Investors acquired 64,166 call options on the stock. This is an increase of approximately 39% compared to the typical daily volume of 46,171 call options.

Insider Activity at Joby Aviation

In related news, Director Paul Cahill Sciarra sold 500,001 shares of Joby Aviation stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $14.30, for a total transaction of $7,150,014.30. Following the sale, the director directly owned 56,328,057 shares in the company, valued at $805,491,215.10. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bonny W. Simi sold 173,456 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $17.25, for a total transaction of $2,992,116.00. Following the completion of the sale, the insider directly owned 211,397 shares of the company’s stock, valued at $3,646,598.25. The trade was a 45.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,815,011 shares of company stock worth $25,536,867 in the last ninety days. 28.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Joby Aviation

Institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC raised its holdings in shares of Joby Aviation by 8.1% during the second quarter. CWM LLC now owns 9,156 shares of the company’s stock worth $97,000 after acquiring an additional 689 shares in the last quarter. GPS Wealth Strategies Group LLC increased its position in Joby Aviation by 32.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock worth $33,000 after purchasing an additional 750 shares during the last quarter. Allworth Financial LP raised its stake in shares of Joby Aviation by 11.9% during the 2nd quarter. Allworth Financial LP now owns 7,197 shares of the company’s stock worth $76,000 after purchasing an additional 763 shares in the last quarter. Flagship Harbor Advisors LLC raised its stake in shares of Joby Aviation by 2.6% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 31,726 shares of the company’s stock worth $335,000 after purchasing an additional 800 shares in the last quarter. Finally, EP Wealth Advisors LLC lifted its holdings in shares of Joby Aviation by 2.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company’s stock valued at $403,000 after buying an additional 821 shares during the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $9.00 price target on shares of Joby Aviation in a report on Monday, June 23rd. JPMorgan Chase & Co. boosted their target price on shares of Joby Aviation from $5.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, August 1st. Wall Street Zen cut shares of Joby Aviation from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Canaccord Genuity Group lowered shares of Joby Aviation from a “buy” rating to a “hold” rating and lifted their price target for the stock from $12.00 to $17.00 in a research report on Thursday, August 7th. Finally, HC Wainwright cut Joby Aviation from a “buy” rating to a “neutral” rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $10.50.

Joby Aviation Stock Up 9.8%

Shares of NYSE:JOBY opened at $17.81 on Friday. The company’s fifty day moving average is $15.69 and its two-hundred day moving average is $10.87. Joby Aviation has a 12-month low of $4.80 and a 12-month high of $20.95. The company has a market cap of $15.24 billion, a P/E ratio of -16.64 and a beta of 2.52.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, August 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The firm had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.05 million. The firm’s revenue for the quarter was down 94.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.18) earnings per share. Equities research analysts anticipate that Joby Aviation will post -0.69 earnings per share for the current year.

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.