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

Virgin Galactic Holdings, Inc. (NYSE:SPCE) was the recipient of unusually large options trading activity on Tuesday. Stock investors acquired 17,720 call options on the company. This represents an increase of approximately 87% compared to the average daily volume of 9,485 call options.

Virgin Galactic Stock Performance

Shares of SPCE opened at $7.10 on Thursday. The company has a 50-day simple moving average of $6.50 and a 200-day simple moving average of $11.03. The company has a quick ratio of 4.71, a current ratio of 4.71 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $146.03 million, a PE ratio of -0.28 and a beta of 1.71. Virgin Galactic has a 52-week low of $5.26 and a 52-week high of $54.60.

Virgin Galactic (NYSE:SPCE) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($4.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($5.40) by $1.04. The business had revenue of $4.22 million during the quarter, compared to the consensus estimate of $3.50 million. Virgin Galactic had a negative net margin of 3,764.43% and a negative return on equity of 83.64%. During the same quarter last year, the firm posted ($9.20) EPS. Equities research analysts predict that Virgin Galactic will post -18.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SPCE has been the subject of a number of recent research reports. Morgan Stanley decreased their price target on shares of Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating for the company in a research note on Tuesday, September 17th. Susquehanna reduced their target price on shares of Virgin Galactic from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group reduced their target price on shares of Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Virgin Galactic presently has a consensus rating of “Hold” and a consensus price target of $25.50.

Hedge Funds Weigh In On Virgin Galactic

Large investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in Virgin Galactic during the 2nd quarter valued at about $98,000. California State Teachers Retirement System increased its holdings in Virgin Galactic by 3.5% during the 1st quarter. California State Teachers Retirement System now owns 377,388 shares of the company’s stock valued at $559,000 after acquiring an additional 12,803 shares in the last quarter. American International Group Inc. increased its holdings in Virgin Galactic by 7.9% during the 1st quarter. American International Group Inc. now owns 176,181 shares of the company’s stock valued at $261,000 after acquiring an additional 12,970 shares in the last quarter. XTX Topco Ltd purchased a new position in Virgin Galactic during the 2nd quarter valued at about $145,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Virgin Galactic by 2.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 819,273 shares of the company’s stock valued at $1,213,000 after acquiring an additional 18,305 shares in the last quarter. Hedge funds and other institutional investors own 46.62% of the company’s stock.

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.