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

Virgin Galactic Holdings, Inc. (NYSE:SPCE) was the recipient of some unusual options trading on Tuesday. Investors acquired 28,329 call options on the company. This represents an increase of 60% compared to the average volume of 17,701 call options.

Virgin Galactic Stock Performance

SPCE opened at $3.85 on Wednesday. The company has a debt-to-equity ratio of 1.60, a current ratio of 3.38 and a quick ratio of 3.38. The company has a market capitalization of $221.72 million, a price-to-earnings ratio of -0.43 and a beta of 2.13. The business’s 50-day moving average price is $3.38 and its two-hundred day moving average price is $3.23. Virgin Galactic has a 1 year low of $2.18 and a 1 year high of $8.19.

Virgin Galactic (NYSE:SPCE) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($1.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.12) by $0.65. The business had revenue of $0.41 million during the quarter, compared to the consensus estimate of $0.45 million. Virgin Galactic had a negative return on equity of 98.94% and a negative net margin of 17,828.03%. Equities analysts expect that Virgin Galactic will post -16.05 EPS for the current fiscal year.

Institutional Trading of Virgin Galactic

Institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. boosted its holdings in Virgin Galactic by 134.7% during the first quarter. Federated Hermes Inc. now owns 1,956,199 shares of the company’s stock worth $5,927,000 after purchasing an additional 1,122,535 shares during the last quarter. Wealthquest Corp acquired a new stake in Virgin Galactic in the 1st quarter valued at $1,340,000. Charles Schwab Investment Management Inc. lifted its position in Virgin Galactic by 8.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 240,831 shares of the company’s stock worth $730,000 after buying an additional 18,949 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Virgin Galactic by 48.3% during the 2nd quarter. Invesco Ltd. now owns 159,650 shares of the company’s stock worth $436,000 after buying an additional 52,009 shares during the last quarter. Finally, Penserra Capital Management LLC grew its holdings in shares of Virgin Galactic by 48.4% in the 1st quarter. Penserra Capital Management LLC now owns 134,438 shares of the company’s stock valued at $407,000 after acquiring an additional 43,861 shares in the last quarter. Institutional investors own 46.62% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Virgin Galactic from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. The Goldman Sachs Group began coverage on shares of Virgin Galactic in a report on Monday, June 30th. They set a “neutral” rating and a $3.00 price target for the company. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.75.

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.