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

Virgin Galactic Holdings, Inc. (NYSE:SPCE) was the recipient of unusually large options trading on Thursday. Traders bought 56,872 call options on the stock. This is an increase of approximately 412% compared to the typical daily volume of 11,101 call options.

Institutional Trading of Virgin Galactic

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC raised its stake 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 purchasing an additional 362,421 shares during the period. Federated Hermes Inc. grew its holdings in Virgin Galactic by 1,246.5% during the 4th quarter. Federated Hermes Inc. now owns 833,664 shares of the company’s stock valued at $4,902,000 after buying an additional 771,749 shares in the last quarter. Geode Capital Management LLC grew its holdings in Virgin Galactic by 19.1% during the 4th quarter. Geode Capital Management LLC now owns 605,362 shares of the company’s stock valued at $3,561,000 after buying an additional 97,274 shares in the last quarter. Northern Trust Corp grew its holdings in Virgin Galactic by 39.6% during the 4th quarter. Northern Trust Corp now owns 222,753 shares of the company’s stock valued at $1,310,000 after buying an additional 63,141 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Virgin Galactic by 18.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 221,882 shares of the company’s stock valued at $1,305,000 after buying an additional 34,514 shares in the last quarter. Institutional investors own 46.62% of the company’s stock.

Virgin Galactic Stock Down 3.9 %

Shares of SPCE opened at $4.10 on Friday. The business’s 50 day moving average is $4.30 and its 200 day moving average is $5.75. The company has a market capitalization of $145.49 million, a PE ratio of -0.24 and a beta of 2.16. Virgin Galactic has a 12-month low of $2.85 and a 12-month high of $30.40. The company has a current ratio of 4.52, a quick ratio of 4.52 and a debt-to-equity ratio of 1.15.

Analysts Set New Price Targets

Several research analysts have recently 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 research note on Thursday, March 13th. The Goldman Sachs Group decreased 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, March 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $19.85.

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.