Traders Buy High Volume of Virgin Galactic Call Options (NYSE:SPCE)

Virgin Galactic Holdings, Inc. (NYSE:SPCE - Get Free Report) was the target of unusually large options trading activity on Monday. Investors bought 35,740 call options on the stock. This represents an increase of approximately 235% compared to the average daily volume of 10,665 call options.

Institutional Trading of Virgin Galactic

Hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. raised its stake 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 acquiring an additional 771,749 shares during the period. Wealthquest Corp acquired a new stake in shares of Virgin Galactic during the 1st quarter worth about $1,340,000. Millennium Management LLC lifted its stake in shares of Virgin Galactic by 62.0% during the 4th quarter. Millennium Management LLC now owns 946,956 shares of the company's stock worth $5,568,000 after buying an additional 362,421 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Virgin Galactic during the 4th quarter worth about $715,000. Finally, Geode Capital Management LLC grew its stake 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 buying an additional 97,274 shares during the last quarter. 46.62% of the stock is owned by institutional investors and hedge funds.

Virgin Galactic Stock Performance

NYSE:SPCE traded up $0.21 during mid-day trading on Monday, hitting $3.06. The stock had a trading volume of 1,575,451 shares, compared to its average volume of 1,857,673. Virgin Galactic has a twelve month low of $2.18 and a twelve month high of $28.20. The company has a debt-to-equity ratio of 1.15, a quick ratio of 4.52 and a current ratio of 4.52. The stock has a market cap of $108.72 million, a price-to-earnings ratio of -0.18 and a beta of 2.11. The company's 50 day simple moving average is $3.23 and its 200 day simple moving average is $5.11.

Wall Street Analyst Weigh In

SPCE has been the topic of several recent research reports. The Goldman Sachs Group lowered their price target on shares of Virgin Galactic from $41.00 to $36.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Susquehanna dropped their target price on Virgin Galactic from $4.00 to $3.25 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $19.85.

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.

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