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

Virgin Galactic Holdings, Inc. (NYSE:SPCE) saw unusually large options trading activity on Wednesday. Traders bought 25,417 call options on the stock. This is an increase of 137% compared to the average daily volume of 10,719 call options.

Virgin Galactic Price Performance

NYSE SPCE opened at $3.41 on Friday. The company has a current ratio of 4.52, a quick ratio of 4.52 and a debt-to-equity ratio of 1.15. The company has a fifty day simple moving average of $3.03 and a 200 day simple moving average of $4.75. The company has a market cap of $121.15 million, a P/E ratio of -0.20 and a beta of 2.10. Virgin Galactic has a 1 year low of $2.18 and a 1 year high of $23.00.

Virgin Galactic (NYSE:SPCE) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($2.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.23) by ($0.15). Virgin Galactic had a negative return on equity of 88.09% and a negative net margin of 3,975.27%. On average, sell-side analysts predict that Virgin Galactic will post -16.05 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on SPCE shares. The Goldman Sachs Group decreased their target price on shares of Virgin Galactic from $41.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Susquehanna decreased their price objective on shares of Virgin Galactic from $4.00 to $3.25 and set a “neutral” rating for the company in a report on Thursday, March 13th.

Institutional Trading of Virgin Galactic

Hedge funds have recently bought and sold shares of the stock. Federated Hermes Inc. boosted its holdings in Virgin Galactic by 1,246.5% in the 4th quarter. Federated Hermes Inc. now owns 833,664 shares of the company’s stock valued at $4,902,000 after purchasing an additional 771,749 shares during the period. Raymond James Financial Inc. bought a new stake in Virgin Galactic in the 4th quarter valued at $715,000. Bank of New York Mellon Corp boosted its holdings in Virgin Galactic by 6.8% in the 4th quarter. Bank of New York Mellon Corp now owns 60,688 shares of the company’s stock valued at $357,000 after purchasing an additional 3,888 shares during the period. Rhumbline Advisers boosted its holdings in Virgin Galactic by 19.4% in the 4th quarter. Rhumbline Advisers now owns 33,205 shares of the company’s stock valued at $195,000 after purchasing an additional 5,384 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Virgin Galactic by 19.1% in the 4th quarter. Geode Capital Management LLC now owns 605,362 shares of the company’s stock valued at $3,561,000 after purchasing an additional 97,274 shares during the period. 46.62% of the stock is owned by institutional investors.

Virgin Galactic Company Profile

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.