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

Virgin Galactic Holdings, Inc. (NYSE:SPCE - Get Free Report) saw some unusual options trading activity on Wednesday. Investors bought 18,853 call options on the company. This is an increase of approximately 78% compared to the average daily volume of 10,570 call options.

Institutional Trading of Virgin Galactic

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC boosted its holdings in shares of Virgin Galactic by 62.0% during the 4th quarter. Millennium Management LLC now owns 946,956 shares of the company's stock worth $5,568,000 after buying an additional 362,421 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Virgin Galactic by 1,246.5% during the 4th quarter. Federated Hermes Inc. now owns 833,664 shares of the company's stock worth $4,902,000 after buying an additional 771,749 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Virgin Galactic by 19.1% during the 4th quarter. Geode Capital Management LLC now owns 605,362 shares of the company's stock worth $3,561,000 after buying an additional 97,274 shares during the period. Northern Trust Corp boosted its holdings in shares of Virgin Galactic by 39.6% during the 4th quarter. Northern Trust Corp now owns 222,753 shares of the company's stock worth $1,310,000 after buying an additional 63,141 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Virgin Galactic by 18.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 221,882 shares of the company's stock worth $1,305,000 after buying an additional 34,514 shares during the period. Institutional investors own 46.62% of the company's stock.

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Virgin Galactic Stock Performance

Shares of SPCE traded up $0.05 during midday trading on Friday, reaching $3.41. The stock had a trading volume of 945,857 shares, compared to its average volume of 1,779,689. The firm has a 50 day simple moving average of $4.80 and a 200-day simple moving average of $5.97. Virgin Galactic has a one year low of $3.27 and a one year high of $36.60. The firm has a market cap of $98.32 million, a PE ratio of -0.20 and a beta of 2.16. The company has a current ratio of 4.52, a quick ratio of 4.52 and a debt-to-equity ratio of 1.15.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group decreased their price objective on shares of Virgin Galactic from $41.00 to $36.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $20.40.

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.