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

Virgin Galactic Holdings, Inc. (NYSE:SPCE) was the recipient of some unusual options trading on Thursday. Stock traders bought 56,872 call options on the stock. This represents an increase of approximately 412% compared to the average volume of 11,101 call options.

Virgin Galactic Stock Up 14.4 %

SPCE opened at $4.33 on Thursday. The company has a current ratio of 4.52, a quick ratio of 4.52 and a debt-to-equity ratio of 1.15. The stock has a market cap of $153.66 million, a PE ratio of -0.25 and a beta of 2.16. The stock’s fifty day simple moving average is $4.37 and its 200 day simple moving average is $5.78. Virgin Galactic has a 1-year low of $2.85 and a 1-year high of $30.40.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SPCE. Charles Schwab Investment Management Inc. increased its position in Virgin Galactic by 29.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 187,368 shares of the company’s stock worth $1,143,000 after buying an additional 42,883 shares during the period. FMR LLC increased its position in Virgin Galactic by 29.7% during the 3rd quarter. FMR LLC now owns 24,749 shares of the company’s stock worth $151,000 after buying an additional 5,669 shares during the period. Quarry LP bought a new position in Virgin Galactic during the 3rd quarter worth $49,000. Zacks Investment Management increased its position in Virgin Galactic by 40.3% during the 3rd quarter. Zacks Investment Management now owns 35,439 shares of the company’s stock worth $216,000 after buying an additional 10,172 shares during the period. Finally, Geode Capital Management LLC increased its position in Virgin Galactic by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 508,088 shares of the company’s stock worth $3,101,000 after buying an additional 88,102 shares during the period. Institutional investors own 46.62% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. The Goldman Sachs Group cut their target price on 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 cut their price objective on Virgin Galactic from $4.00 to $3.25 and set a “neutral” rating for the company in a report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.