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

Virgin Galactic Holdings, Inc. (NYSE:SPCE - Get Free Report) was the recipient of unusually large options trading activity on Tuesday. Investors acquired 17,720 call options on the company. This represents an increase of 87% compared to the typical volume of 9,485 call options.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SPCE shares. Morgan Stanley cut their price target on shares of Virgin Galactic from $35.00 to $5.00 and set an "underweight" rating for the company in a research report on Tuesday, September 17th. Susquehanna dropped their target price on Virgin Galactic from $8.00 to $6.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. Finally, The Goldman Sachs Group decreased their price target on Virgin Galactic from $53.00 to $47.00 and set a "neutral" rating on the stock in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Virgin Galactic currently has a consensus rating of "Hold" and an average price target of $25.50.

Virgin Galactic Trading Up 1.0 %

Shares of SPCE traded up $0.08 during mid-day trading on Tuesday, hitting $7.35. 1,722,216 shares of the company's stock traded hands, compared to its average volume of 1,319,489. The company has a quick ratio of 4.71, a current ratio of 4.71 and a debt-to-equity ratio of 1.06. Virgin Galactic has a 1 year low of $5.26 and a 1 year high of $54.60. The firm has a market capitalization of $151.07 million, a P/E ratio of -0.29 and a beta of 1.71. The business's 50-day moving average price is $6.48 and its 200-day moving average price is $11.06.

Virgin Galactic (NYSE:SPCE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($4.36) EPS for the quarter, topping analysts' consensus estimates of ($5.40) by $1.04. The firm had revenue of $4.22 million for the quarter, compared to analysts' expectations of $3.50 million. Virgin Galactic had a negative return on equity of 83.64% and a negative net margin of 3,764.43%. During the same period in the previous year, the firm posted ($9.20) EPS. As a group, sell-side analysts forecast that Virgin Galactic will post -18.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new stake in Virgin Galactic in the second quarter worth approximately $492,000. XTX Topco Ltd bought a new position in shares of Virgin Galactic during the 2nd quarter valued at $145,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Virgin Galactic in the 2nd quarter worth $98,000. Point72 DIFC Ltd bought a new stake in shares of Virgin Galactic in the second quarter worth $240,000. Finally, California State Teachers Retirement System increased its position in Virgin Galactic by 3.5% during the first quarter. California State Teachers Retirement System now owns 377,388 shares of the company's stock valued at $559,000 after acquiring an additional 12,803 shares during the last quarter. 46.62% of the stock is owned by 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.