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

Virgin Galactic Holdings, Inc. (NYSE:SPCE) was the recipient of some unusual options trading activity on Tuesday. Stock investors acquired 24,209 call options on the stock. This is an increase of approximately 167% compared to the typical daily volume of 9,061 call options.

Virgin Galactic Stock Performance

NYSE:SPCE traded up $0.48 during midday trading on Tuesday, reaching $5.63. 2,688,364 shares of the company traded hands, compared to its average volume of 1,729,867. Virgin Galactic has a twelve month low of $5.06 and a twelve month high of $43.20. The firm has a market capitalization of $162.45 million, a price-to-earnings ratio of -0.33 and a beta of 1.72. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.52 and a quick ratio of 4.52. The company has a fifty day moving average price of $6.37 and a 200 day moving average price of $6.55.

Virgin Galactic (NYSE:SPCE) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($2.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.10) by $1.44. The company had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $0.47 million. Virgin Galactic had a negative net margin of 3,975.27% and a negative return on equity of 88.09%. During the same quarter in the previous year, the company posted ($5.60) EPS. On average, analysts expect that Virgin Galactic will post -16.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group cut their target price on shares of Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $25.50.

Institutional Investors Weigh In On Virgin Galactic

Several hedge funds and other institutional investors have recently made changes to their positions in SPCE. FMR LLC raised its stake in shares of Virgin Galactic by 29.7% in the third quarter. FMR LLC now owns 24,749 shares of the company’s stock worth $151,000 after acquiring an additional 5,669 shares during the last quarter. Quarry LP bought a new position in Virgin Galactic in the third quarter valued at approximately $49,000. Zacks Investment Management lifted its stake in Virgin Galactic by 40.3% in the 3rd quarter. Zacks Investment Management now owns 35,439 shares of the company’s stock valued at $216,000 after acquiring an additional 10,172 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Virgin Galactic during the 3rd quarter worth approximately $70,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Virgin Galactic in the 2nd quarter valued at about $98,000. 46.62% of the stock is owned by institutional investors and hedge funds.

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.