Virgin Galactic Sees Unusually High Options Volume (NYSE:SPCE)

Virgin Galactic Holdings, Inc. (NYSE:SPCE - Get Free Report) saw unusually large options trading on Wednesday. Traders bought 18,853 call options on the company. This represents an increase of 78% compared to the average volume of 10,570 call options.

Analysts Set New Price Targets

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

Institutional Trading of Virgin Galactic

Several institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC boosted its holdings in Virgin Galactic by 62.0% during the 4th 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. Federated Hermes Inc. lifted its position in shares of Virgin Galactic by 1,246.5% during the fourth quarter. Federated Hermes Inc. now owns 833,664 shares of the company's stock worth $4,902,000 after purchasing an additional 771,749 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Virgin Galactic by 19.1% during the fourth quarter. Geode Capital Management LLC now owns 605,362 shares of the company's stock valued at $3,561,000 after purchasing an additional 97,274 shares during the period. Northern Trust Corp grew its holdings in shares of Virgin Galactic by 39.6% in the fourth quarter. Northern Trust Corp now owns 222,753 shares of the company's stock worth $1,310,000 after purchasing an additional 63,141 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Virgin Galactic by 18.4% in 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.

Virgin Galactic Trading Up 0.7 %

Shares of NYSE:SPCE traded up $0.03 during trading on Wednesday, reaching $3.43. The company's stock had a trading volume of 1,229,925 shares, compared to its average volume of 1,804,872. The firm's 50 day simple moving average is $4.98 and its two-hundred day simple moving average is $6.04. Virgin Galactic has a 12 month low of $3.27 and a 12 month high of $36.60. The stock has a market capitalization of $98.90 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.

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.

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