Virgin Galactic Target of Unusually Large Options Trading (NYSE:SPCE)

Virgin Galactic Holdings, Inc. (NYSE:SPCEGet Free Report) was the recipient of unusually large options trading activity on Monday. Stock investors bought 23,839 call options on the company. This represents an increase of approximately 72% compared to the typical volume of 13,835 call options.

Virgin Galactic Stock Performance

Virgin Galactic stock opened at $1.26 on Wednesday. The firm has a market capitalization of $504.05 million, a P/E ratio of -1.01 and a beta of 1.71. The stock has a fifty day moving average price of $1.22 and a 200 day moving average price of $1.75. Virgin Galactic has a 52 week low of $0.70 and a 52 week high of $6.17. The company has a current ratio of 4.88, a quick ratio of 4.88 and a debt-to-equity ratio of 1.00.

Virgin Galactic (NYSE:SPCEGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. Virgin Galactic had a negative return on equity of 87.99% and a negative net margin of 5,301.61%. The firm had revenue of $1.99 million during the quarter, compared to the consensus estimate of $2.05 million. During the same quarter in the previous year, the business earned ($0.57) earnings per share. The firm’s quarterly revenue was up 406.4% compared to the same quarter last year. Equities research analysts anticipate that Virgin Galactic will post -0.99 earnings per share for the current year.

Institutional Trading of Virgin Galactic

Several institutional investors and hedge funds have recently bought and sold shares of SPCE. American International Group Inc. raised its position in shares of Virgin Galactic by 7.9% during the 1st quarter. American International Group Inc. now owns 176,181 shares of the company’s stock worth $261,000 after purchasing an additional 12,970 shares during the period. Vanguard Group Inc. grew its holdings in Virgin Galactic by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 34,633,452 shares of the company’s stock worth $51,258,000 after buying an additional 158,954 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Virgin Galactic by 2.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 819,273 shares of the company’s stock worth $1,213,000 after buying an additional 18,305 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Virgin Galactic during the 1st quarter valued at $151,000. Finally, Swiss National Bank boosted its stake in Virgin Galactic by 9.1% during the 1st quarter. Swiss National Bank now owns 749,800 shares of the company’s stock valued at $1,110,000 after purchasing an additional 62,400 shares in the last quarter. Institutional investors and hedge funds own 46.62% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Susquehanna cut their target price on Virgin Galactic from $2.00 to $1.10 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. The Goldman Sachs Group cut their target price on Virgin Galactic from $4.00 to $3.50 and set a “neutral” rating on the stock in a research report on Monday. Wells Fargo & Company cut their target price on Virgin Galactic from $1.00 to $0.75 and set an “underweight” rating on the stock in a research report on Thursday, May 9th. TD Cowen cut their target price on Virgin Galactic from $2.50 to $2.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Truist Financial cut their target price on Virgin Galactic from $3.00 to $2.00 and set a “hold” rating on the stock in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $2.26.

Check Out Our Latest Stock Report on Virgin Galactic

About Virgin Galactic

(Get Free Report)

Virgin Galactic Holdings, Inc, an aerospace and space travel company, focuses on the development, manufacture, and operation of spaceships and related technologies. The company engages in the design and development, manufacturing, ground and flight testing, spaceflight operation, and post-flight maintenance of spaceflight systems for private individuals, researchers, and government agencies.

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