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

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Susquehanna reduced their price target on Virgin Galactic from $4.00 to $3.25 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. The Goldman Sachs Group cut their target price on Virgin Galactic from $41.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $19.85.

Virgin Galactic Trading Down 3.9 %

Virgin Galactic stock opened at $4.10 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. Virgin Galactic has a one year low of $2.85 and a one year high of $30.40. The stock has a market capitalization of $145.49 million, a PE ratio of -0.24 and a beta of 2.16. The business’s fifty day moving average is $4.30 and its 200 day moving average is $5.75.

Institutional Investors Weigh In On Virgin Galactic

Institutional investors have recently modified their holdings of the business. Federated Hermes Inc. lifted its holdings in 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 period. Millennium Management LLC lifted its holdings 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 acquiring an additional 362,421 shares during the period. Raymond James Financial Inc. bought a new position in Virgin Galactic in the fourth quarter valued at about $715,000. Geode Capital Management LLC lifted its holdings in Virgin Galactic by 19.1% in the fourth quarter. Geode Capital Management LLC now owns 605,362 shares of the company’s stock valued at $3,561,000 after acquiring an additional 97,274 shares during the period. Finally, MYDA Advisors LLC bought a new position in Virgin Galactic in the fourth quarter valued at about $432,000. 46.62% of the stock is owned by hedge funds and other institutional investors.

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.