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

Virgin Galactic Holdings, Inc. (NYSE:SPCE - Get Free Report) saw unusually large options trading on Friday. Investors purchased 23,568 call options on the stock. This represents an increase of 48% compared to the average daily volume of 15,916 call options.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SPCE shares. The Goldman Sachs Group lowered their price target on Virgin Galactic from $41.00 to $36.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Jefferies Financial Group lowered their price target on Virgin Galactic from $9.00 to $8.00 and set a "buy" rating for the company in a report on Friday, May 16th. Finally, Susquehanna lowered their price target on Virgin Galactic from $4.00 to $3.25 and set a "neutral" rating for the company in a report on Thursday, March 13th.

Virgin Galactic Stock Up 2.9%

Shares of NYSE:SPCE traded up $0.09 during mid-day trading on Friday, reaching $3.22. 10,149,605 shares of the stock were exchanged, compared to its average volume of 2,614,157. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 1.15. The company has a market cap of $133.87 million, a P/E ratio of -0.19 and a beta of 2.10. Virgin Galactic has a one year low of $2.18 and a one year high of $18.60. The stock's 50 day simple moving average is $3.06 and its 200-day simple moving average is $4.39.

Virgin Galactic (NYSE:SPCE - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($2.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.23) by ($0.15). The firm had revenue of $0.46 million for the quarter, compared to the consensus estimate of $0.33 million. Virgin Galactic had a negative return on equity of 88.09% and a negative net margin of 3,975.27%. As a group, equities research analysts predict that Virgin Galactic will post -16.05 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SPCE. 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 valued at $5,927,000 after purchasing an additional 1,122,535 shares during the last quarter. Wealthquest Corp acquired a new position in Virgin Galactic during the first quarter valued at approximately $1,340,000. 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 valued at $5,568,000 after purchasing an additional 362,421 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Virgin Galactic during the fourth quarter valued at approximately $715,000. Finally, Caption Management LLC boosted its position in Virgin Galactic by 112.1% during the first quarter. Caption Management LLC now owns 11,555 shares of the company's stock valued at $35,000 after purchasing an additional 107,315 shares during the last quarter. 46.62% of the stock is owned by institutional investors and hedge funds.

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.