Stock Traders Purchase Large Volume of Virgin Galactic Call Options (NYSE:SPCE)

Virgin Galactic Holdings, Inc. (NYSE:SPCE) was the target of unusually large options trading activity on Tuesday. Stock traders purchased 23,823 call options on the stock. This is an increase of 63% compared to the typical daily volume of 14,651 call options.

Analysts Set New Price Targets

Several equities analysts recently commented on SPCE shares. Truist Financial dropped their price target 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 reduced their target price on Virgin Galactic from $1.75 to $1.00 and set an “underweight” rating on the stock in a report on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, Virgin Galactic currently has a consensus rating of “Hold” and a consensus target price of $2.30.

Institutional Investors Weigh In On Virgin Galactic

Large investors have recently added to or reduced their stakes in the stock. Axxcess Wealth Management LLC bought a new position in shares of Virgin Galactic in the fourth quarter worth $27,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Virgin Galactic during the fourth quarter valued at approximately $30,000. Optas LLC acquired a new position in shares of Virgin Galactic during the fourth quarter valued at approximately $31,000. Ballentine Partners LLC bought a new stake in Virgin Galactic during the fourth quarter worth approximately $32,000. Finally, Capital Square LLC bought a new position in Virgin Galactic during the 4th quarter valued at $34,000. 46.62% of the stock is owned by institutional investors and hedge funds.

Virgin Galactic Stock Up 18.2 %

SPCE traded up $0.14 during trading on Tuesday, hitting $0.89. The company had a trading volume of 42,301,165 shares, compared to its average volume of 11,005,721. The company has a market cap of $355.40 million, a PE ratio of -0.56 and a beta of 1.60. The company has a debt-to-equity ratio of 0.83, a current ratio of 5.12 and a quick ratio of 5.03. Virgin Galactic has a 1-year low of $0.70 and a 1-year high of $6.17. The business has a 50-day moving average of $1.48 and a 200-day moving average of $1.82.

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

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.