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

Virgin Galactic Holdings, Inc. (NYSE:SPCE) was the target of some unusual options trading activity on Tuesday. Investors acquired 23,823 call options on the company. This is an increase of approximately 63% compared to the average daily volume of 14,651 call options.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Truist Financial decreased their target price on shares of Virgin Galactic from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Wednesday, February 28th. Wells Fargo & Company decreased their target price on shares of Virgin Galactic from $1.75 to $1.00 and set an “underweight” rating for the company in a research report on Thursday, April 4th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, Virgin Galactic has an average rating of “Hold” and an average target price of $2.30.

Institutional Investors Weigh In On Virgin Galactic

Hedge funds have recently made changes to their positions in the company. Axxcess Wealth Management LLC acquired a new position in Virgin Galactic in the 4th quarter valued at approximately $27,000. Vanguard Personalized Indexing Management LLC acquired a new position in Virgin Galactic in the 4th quarter valued at approximately $30,000. Optas LLC acquired a new position in shares of Virgin Galactic during the 4th quarter worth $31,000. Ballentine Partners LLC acquired a new position in shares of Virgin Galactic during the 4th quarter worth $32,000. Finally, Capital Square LLC acquired a new position in shares of Virgin Galactic during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 46.62% of the company’s stock.

Virgin Galactic Stock Down 5.5 %

Shares of NYSE:SPCE opened at $0.87 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 5.03 and a current ratio of 5.12. The company has a market cap of $347.99 million, a PE ratio of -0.55 and a beta of 1.60. Virgin Galactic has a 52 week low of $0.70 and a 52 week high of $6.17. The firm has a 50 day simple moving average of $1.44 and a 200 day simple moving average of $1.81.

Virgin Galactic (NYSE:SPCE) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.05. The business had revenue of $2.81 million during the quarter, compared to the consensus estimate of $2.99 million. Virgin Galactic had a negative net margin of 7,387.31% and a negative return on equity of 102.01%. As a group, research analysts expect that Virgin Galactic will post -0.96 earnings per share for the current year.

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.