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

Virgin Galactic Holdings, Inc. (NYSE:SPCE - Get Free Report) saw some unusual options trading on Tuesday. Stock investors purchased 42,774 put options on the company. This is an increase of 206% compared to the typical volume of 13,963 put options.

Virgin Galactic Trading Down 1.1 %

Shares of Virgin Galactic stock traded down $0.01 during trading on Tuesday, hitting $0.87. 13,395,864 shares of the company were exchanged, compared to its average volume of 11,806,277. The firm has a market capitalization of $349.79 million, a P/E ratio of -0.56 and a beta of 1.60. Virgin Galactic has a 1-year low of $0.70 and a 1-year high of $6.17. The firm's fifty day moving average price is $1.36 and its 200 day moving average price is $1.79. The company has a debt-to-equity ratio of 0.83, a current ratio of 5.12 and a quick ratio of 5.03.

Virgin Galactic (NYSE:SPCE - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.05. Virgin Galactic had a negative return on equity of 102.01% and a negative net margin of 7,387.31%. The business had revenue of $2.81 million for the quarter, compared to analysts' expectations of $2.99 million. As a group, sell-side analysts expect that Virgin Galactic will post -0.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Virgin Galactic

Institutional investors have recently modified their holdings of the business. Axxcess Wealth Management LLC bought a new stake in Virgin Galactic in the 4th quarter valued at approximately $27,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Virgin Galactic during the 4th quarter worth approximately $30,000. Optas LLC acquired a new position in shares of Virgin Galactic during the 4th quarter worth approximately $31,000. Ballentine Partners LLC acquired a new position in shares of Virgin Galactic during the 4th quarter worth approximately $32,000. Finally, Capital Square LLC acquired a new position in shares of Virgin Galactic during the 4th quarter worth approximately $34,000. Institutional investors own 46.62% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SPCE shares. Wells Fargo & Company cut their price target on Virgin Galactic from $1.75 to $1.00 and set an "underweight" rating for the company in a report on Thursday, April 4th. Truist Financial decreased their target price on Virgin Galactic from $3.00 to $2.00 and set a "hold" rating for the company in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $2.30.

About Virgin Galactic

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.