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

Virgin Galactic Holdings, Inc. (NYSE:SPCE - Get Free Report) was the recipient of some unusual options trading on Thursday. Stock investors bought 56,872 call options on the company. This is an increase of 412% compared to the average volume of 11,101 call options.

Institutional Trading of Virgin Galactic

Institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC lifted its position in shares of Virgin Galactic by 97.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,943 shares of the company's stock worth $47,000 after buying an additional 3,916 shares during the last quarter. Quarry LP bought a new stake in shares of Virgin Galactic during the 3rd quarter worth $49,000. Virtu Financial LLC bought a new stake in shares of Virgin Galactic during the 3rd quarter worth $70,000. Summit Securities Group LLC acquired a new position in shares of Virgin Galactic during the fourth quarter worth $71,000. Finally, Franklin Resources Inc. bought a new position in shares of Virgin Galactic in the 3rd quarter valued at $80,000. 46.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Susquehanna decreased their price objective on Virgin Galactic from $4.00 to $3.25 and set a "neutral" rating on the stock in a report on Thursday, March 13th. The Goldman Sachs Group cut their target price on 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 research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $19.85.

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Virgin Galactic Price Performance

Shares of NYSE:SPCE traded down $0.17 during trading on Friday, reaching $4.10. 2,932,713 shares of the company traded hands, compared to its average volume of 1,759,203. The company's 50 day moving average is $4.30 and its two-hundred day moving average is $5.75. The firm has a market capitalization of $145.49 million, a PE ratio of -0.24 and a beta of 2.16. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 1.15. Virgin Galactic has a 52 week low of $2.85 and a 52 week high of $30.40.

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.