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

Virgin Galactic Holdings, Inc. (NYSE:SPCE) saw unusually large options trading on Thursday. Investors acquired 56,872 call options on the stock. This is an increase of approximately 412% compared to the average volume of 11,101 call options.

Virgin Galactic Stock Performance

Shares of NYSE:SPCE opened at $4.27 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.52 and a quick ratio of 4.52. The business’s fifty day moving average price is $4.33 and its two-hundred day moving average price is $5.77. Virgin Galactic has a fifty-two week low of $2.85 and a fifty-two week high of $30.40. The stock has a market capitalization of $151.53 million, a price-to-earnings ratio of -0.25 and a beta of 2.16.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Susquehanna cut their target price on Virgin Galactic from $4.00 to $3.25 and set a “neutral” rating for the company in a research note on Thursday, March 13th. The Goldman Sachs Group dropped their price objective on shares of Virgin Galactic from $41.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, two 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 has an average rating of “Hold” and an average target price of $19.85.

Institutional Investors Weigh In On Virgin Galactic

Several large investors have recently made changes to their positions in SPCE. Millennium Management LLC boosted its position in Virgin Galactic by 62.0% in the fourth quarter. Millennium Management LLC now owns 946,956 shares of the company’s stock valued at $5,568,000 after buying an additional 362,421 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Virgin Galactic by 1,246.5% in the fourth quarter. Federated Hermes Inc. now owns 833,664 shares of the company’s stock valued at $4,902,000 after acquiring an additional 771,749 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Virgin Galactic by 19.1% in the 4th quarter. Geode Capital Management LLC now owns 605,362 shares of the company’s stock worth $3,561,000 after acquiring an additional 97,274 shares in the last quarter. Northern Trust Corp grew its position in Virgin Galactic by 39.6% during the 4th quarter. Northern Trust Corp now owns 222,753 shares of the company’s stock worth $1,310,000 after acquiring an additional 63,141 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Virgin Galactic by 18.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 221,882 shares of the company’s stock valued at $1,305,000 after purchasing an additional 34,514 shares in the last quarter. 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.