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 Wednesday. Stock traders purchased 18,853 call options on the company. This represents an increase of approximately 78% compared to the average volume of 10,570 call options.

Hedge Funds Weigh In On Virgin Galactic

Several large investors have recently bought and sold shares of SPCE. Nisa Investment Advisors LLC increased its stake in shares of Virgin Galactic by 908.5% in the third quarter. Nisa Investment Advisors LLC now owns 55,163 shares of the company’s stock valued at $336,000 after buying an additional 49,693 shares during the period. Charles Schwab Investment Management Inc. increased its position in Virgin Galactic by 29.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 187,368 shares of the company’s stock valued at $1,143,000 after acquiring an additional 42,883 shares during the period. FMR LLC raised its stake in shares of Virgin Galactic by 29.7% during the third quarter. FMR LLC now owns 24,749 shares of the company’s stock valued at $151,000 after acquiring an additional 5,669 shares during the last quarter. Quarry LP acquired a new position in shares of Virgin Galactic during the third quarter worth $49,000. Finally, Zacks Investment Management grew its stake in shares of Virgin Galactic by 40.3% in the third quarter. Zacks Investment Management now owns 35,439 shares of the company’s stock worth $216,000 after purchasing an additional 10,172 shares during the last quarter. 46.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group dropped their target price on shares of Virgin Galactic from $41.00 to $36.00 and set a “neutral” rating for the company in a report on Monday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $20.40.

Virgin Galactic Stock Up 2.8 %

Shares of SPCE opened at $3.49 on Thursday. The stock has a market capitalization of $100.89 million, a price-to-earnings ratio of -0.20 and a beta of 2.16. Virgin Galactic has a 52 week low of $3.27 and a 52 week high of $36.60. The company has a debt-to-equity ratio of 1.15, a quick ratio of 4.52 and a current ratio of 4.52. The stock has a fifty day moving average of $4.92 and a 200-day moving average of $6.02.

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.