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

Joby Aviation, Inc. (NYSE:JOBY) saw some unusual options trading activity on Tuesday. Stock investors bought 54,117 call options on the stock. This represents an increase of 59% compared to the typical daily volume of 33,961 call options.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Canaccord Genuity Group dropped their target price on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a research note on Thursday, May 7th. Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a research note on Wednesday, May 6th. Morgan Stanley dropped their target price on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. Weiss Ratings downgraded shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Finally, HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a research note on Thursday, March 12th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Joby Aviation presently has a consensus rating of “Reduce” and an average target price of $13.06.

Joby Aviation Trading Up 2.7%

JOBY stock traded up $0.30 during mid-day trading on Tuesday, reaching $11.22. The company had a trading volume of 13,998,915 shares, compared to its average volume of 27,497,223. The firm has a 50 day moving average of $9.33 and a 200 day moving average of $11.72. Joby Aviation has a 12 month low of $6.72 and a 12 month high of $20.95. The company has a market capitalization of $11.04 billion, a PE ratio of -9.76 and a beta of 2.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.09. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. The firm had revenue of $24.25 million during the quarter, compared to analysts’ expectations of $20.17 million. During the same quarter in the prior year, the company earned ($0.11) EPS. On average, equities analysts predict that Joby Aviation will post -0.83 earnings per share for the current fiscal year.

Insider Activity at Joby Aviation

In related news, CEO Joeben Bevirt sold 421,019 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $10.38, for a total transaction of $4,370,177.22. Following the transaction, the chief executive officer directly owned 31,678,802 shares in the company, valued at approximately $328,825,964.76. This represents a 1.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bonny W. Simi sold 7,696 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $8.15, for a total transaction of $62,722.40. Following the transaction, the insider owned 217,475 shares in the company, valued at $1,772,421.25. The trade was a 3.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,081,030 shares of company stock worth $10,359,251 in the last three months. 28.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Joby Aviation

Hedge funds have recently modified their holdings of the business. Pier 88 Investment Partners LLC purchased a new stake in Joby Aviation during the third quarter valued at approximately $635,000. DNB Asset Management AS lifted its position in Joby Aviation by 16.3% during the fourth quarter. DNB Asset Management AS now owns 366,281 shares of the company’s stock valued at $4,835,000 after acquiring an additional 51,344 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in Joby Aviation during the third quarter valued at approximately $2,830,000. Kingsview Wealth Management LLC lifted its position in Joby Aviation by 838.2% during the third quarter. Kingsview Wealth Management LLC now owns 96,759 shares of the company’s stock valued at $1,562,000 after acquiring an additional 86,446 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Joby Aviation by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock valued at $692,851,000 after acquiring an additional 2,540,382 shares during the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Joby Aviation Company Profile

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.