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

Key Points

• Virgin Galactic saw a significant increase in call options trading, with 43,851 call options purchased, representing a 142% increase over typical volumes.
• Several institutional investors have increased their holdings in Virgin Galactic, with Ameriprise Financial and others growing their stakes significantly during the fourth quarter.
• Virgin Galactic's stock price rose by 5.9% to $3.3350, with analysts issuing a consensus "Hold" rating and a target price of $4.81.

Virgin Galactic Holdings, Inc. (NYSE:SPCE - Get Free Report) saw some unusual options trading activity on Monday. Stock investors purchased 43,851 call options on the company. Thisisanincreaseof142% compared to the typical volume of 18,113 call options.

Analyst Upgrades and Downgrades

SPCE has been the subject of a number of research analyst reports. The Goldman Sachs Group initiated coverage on shares of Virgin Galactic in a report on Monday, June 30th. They issued a "neutral" rating and a $3.00 target price for the company. Wall Street Zen upgraded shares of Virgin Galactic from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Jefferies Financial Group lowered their price target on shares of Virgin Galactic from $9.00 to $8.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $4.81.

Institutional Trading of Virgin Galactic

A number of hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. boosted its position in Virgin Galactic by 134.7% during the first quarter. Federated Hermes Inc. now owns 1,956,199 shares of the company's stock worth $5,927,000 after acquiring an additional 1,122,535 shares during the last quarter. Millennium Management LLC boosted its position in Virgin Galactic by 62.0% during the fourth quarter. Millennium Management LLC now owns 946,956 shares of the company's stock worth $5,568,000 after acquiring an additional 362,421 shares during the last quarter. Geode Capital Management LLC boosted its position in Virgin Galactic by 19.1% during the fourth quarter. Geode Capital Management LLC now owns 605,362 shares of the company's stock worth $3,561,000 after acquiring an additional 97,274 shares during the last quarter. Wealthquest Corp acquired a new stake in Virgin Galactic during the first quarter worth approximately $1,340,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Virgin Galactic by 8.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 240,831 shares of the company's stock worth $730,000 after acquiring an additional 18,949 shares during the last quarter. Institutional investors and hedge funds own 46.62% of the company's stock.

Virgin Galactic Price Performance

Shares of SPCE stock traded up $0.05 during trading hours on Thursday, hitting $3.14. The company's stock had a trading volume of 1,690,963 shares, compared to its average volume of 2,956,949. Virgin Galactic has a twelve month low of $2.18 and a twelve month high of $8.19. The business has a fifty day moving average of $3.29 and a 200-day moving average of $3.31. The stock has a market cap of $180.55 million, a price-to-earnings ratio of -0.35 and a beta of 2.01. The company has a current ratio of 3.38, a quick ratio of 3.38 and a debt-to-equity ratio of 1.60.

Virgin Galactic (NYSE:SPCE - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($1.47) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($2.12) by $0.65. Virgin Galactic had a negative net margin of 17,828.03% and a negative return on equity of 98.94%. The firm had revenue of $0.41 million for the quarter, compared to analyst estimates of $0.45 million. As a group, equities research analysts anticipate that Virgin Galactic will post -16.05 EPS for the current year.

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.