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

Virgin Galactic Holdings, Inc. (NYSE:SPCE - Get Free Report) was the target of some unusual options trading on Tuesday. Investors acquired 24,209 call options on the stock. This represents an increase of approximately 167% compared to the average daily volume of 9,061 call options.

Virgin Galactic Price Performance

Shares of NYSE SPCE traded up $0.34 during trading on Tuesday, hitting $5.49. The company had a trading volume of 5,174,145 shares, compared to its average volume of 2,011,607. The company has a market cap of $158.41 million, a P/E ratio of -0.32 and a beta of 1.72. The company has a debt-to-equity ratio of 1.15, a quick ratio of 4.52 and a current ratio of 4.52. The business's 50-day moving average is $6.37 and its 200 day moving average is $6.55. Virgin Galactic has a 52 week low of $5.06 and a 52 week high of $43.20.

Virgin Galactic (NYSE:SPCE - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($2.66) EPS for the quarter, beating the consensus estimate of ($4.10) by $1.44. The business had revenue of $0.40 million during the quarter, compared to the consensus estimate of $0.47 million. Virgin Galactic had a negative return on equity of 88.09% and a negative net margin of 3,975.27%. During the same period in the prior year, the business posted ($5.60) earnings per share. Equities research analysts predict that Virgin Galactic will post -16.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. XTX Topco Ltd purchased a new position in shares of Virgin Galactic during the second quarter valued at $145,000. Point72 DIFC Ltd acquired a new stake in Virgin Galactic during the 2nd quarter worth about $240,000. Cubist Systematic Strategies LLC purchased a new position in Virgin Galactic during the 2nd quarter valued at about $492,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Virgin Galactic during the 2nd quarter valued at about $98,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Virgin Galactic by 908.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 55,163 shares of the company's stock valued at $336,000 after purchasing an additional 49,693 shares during the period. 46.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group lowered their target price on 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's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $25.50.

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.