Virgin Galactic Target of Unusually High Options Trading (NYSE:SPCE)

Virgin Galactic Holdings, Inc. (NYSE:SPCE) saw some unusual options trading on Tuesday. Investors purchased 27,449 call options on the company. This represents an increase of 40% compared to the average daily volume of 19,562 call options.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Virgin Galactic in a research note on Wednesday, October 8th. Morgan Stanley set a $2.30 price target on shares of Virgin Galactic and gave the stock an “underweight” rating in a research note on Friday. Susquehanna reaffirmed a “neutral” rating and set a $4.00 target price (up from $3.25) on shares of Virgin Galactic in a research report on Thursday, October 9th. Finally, Wolfe Research restated a “peer perform” rating on shares of Virgin Galactic in a report on Friday, November 14th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Virgin Galactic has an average rating of “Reduce” and an average price target of $4.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPCE. Catalyst Funds Management Pty Ltd purchased a new position in Virgin Galactic in the 2nd quarter valued at about $27,000. Pitcairn Co. purchased a new position in Virgin Galactic in the 2nd quarter worth approximately $31,000. Caption Management LLC boosted its holdings in shares of Virgin Galactic by 112.1% during the 1st quarter. Caption Management LLC now owns 11,555 shares of the company’s stock worth $35,000 after purchasing an additional 107,315 shares during the last quarter. Truist Financial Corp purchased a new stake in shares of Virgin Galactic in the second quarter valued at approximately $41,000. Finally, American Century Companies Inc. acquired a new stake in shares of Virgin Galactic in the first quarter valued at approximately $42,000. 46.62% of the stock is currently owned by institutional investors and hedge funds.

Virgin Galactic Stock Up 2.8%

Shares of NYSE:SPCE traded up $0.09 during trading on Tuesday, reaching $3.11. The stock had a trading volume of 5,528,638 shares, compared to its average volume of 3,751,758. The firm’s 50-day simple moving average is $3.84 and its 200 day simple moving average is $3.49. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 1.87. Virgin Galactic has a one year low of $2.18 and a one year high of $6.82. The company has a market capitalization of $178.82 million, a P/E ratio of -0.42 and a beta of 1.98.

Virgin Galactic (NYSE:SPCE) last announced its earnings results on Thursday, November 13th. The company reported ($1.09) earnings per share for the quarter, topping the consensus estimate of ($1.51) by $0.42. Virgin Galactic had a negative return on equity of 108.00% and a negative net margin of 17,615.71%.The firm had revenue of $0.37 million for the quarter, compared to the consensus estimate of $0.32 million. As a group, research analysts expect that Virgin Galactic will post -16.05 EPS for the current fiscal year.

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.