Virgin Galactic Sees Unusually High Options Volume (NYSE:SPCE)

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

Virgin Galactic Trading Up 1.0 %

Virgin Galactic stock traded up $0.03 during midday trading on Friday, hitting $2.90. 2,633,985 shares of the stock were exchanged, compared to its average volume of 1,861,673. The stock has a market capitalization of $103.03 million, a PE ratio of -0.17 and a beta of 2.11. The company has a fifty day simple moving average of $3.10 and a two-hundred day simple moving average of $4.99. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 1.15. Virgin Galactic has a 52 week low of $2.18 and a 52 week high of $28.20.

Hedge Funds Weigh In On Virgin Galactic

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in Virgin Galactic by 21.0% during the third quarter. Geode Capital Management LLC now owns 508,088 shares of the company's stock worth $3,101,000 after acquiring an additional 88,102 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Virgin Galactic during the third quarter worth about $70,000. Franklin Resources Inc. bought a new position in shares of Virgin Galactic during the 3rd quarter valued at about $80,000. Rhumbline Advisers grew its position in shares of 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, Bank of New York Mellon Corp increased its stake in Virgin Galactic by 6.8% during the 4th quarter. Bank of New York Mellon Corp now owns 60,688 shares of the company's stock worth $357,000 after purchasing an additional 3,888 shares in the last quarter. 46.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SPCE. The Goldman Sachs Group decreased their price target on Virgin Galactic from $41.00 to $36.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Susquehanna reduced their target price on shares of Virgin Galactic from $4.00 to $3.25 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $19.85.

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.