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

Virgin Galactic Holdings, Inc. (NYSE:SPCE) saw some unusual options trading on Wednesday. Stock traders acquired 18,853 call options on the stock. This represents an increase of 78% compared to the average volume of 10,570 call options.

Hedge Funds Weigh In On Virgin Galactic

Several institutional investors have recently added to or reduced their stakes in the company. PharVision Advisers LLC purchased a new position in Virgin Galactic during the 4th quarter valued at approximately $215,000. Sherbrooke Park Advisers LLC purchased a new position in shares of Virgin Galactic in the 4th quarter worth approximately $90,000. Millennium Management LLC boosted its holdings in shares of Virgin Galactic by 62.0% in the 4th quarter. Millennium Management LLC now owns 946,956 shares of the company’s stock worth $5,568,000 after purchasing an additional 362,421 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Virgin Galactic by 41.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,846 shares of the company’s stock worth $87,000 after purchasing an additional 4,381 shares during the period. Finally, Cresset Asset Management LLC purchased a new position in shares of Virgin Galactic in the 4th quarter worth approximately $104,000. Hedge funds and other institutional investors own 46.62% of the company’s stock.

Virgin Galactic Stock Performance

NYSE SPCE opened at $3.36 on Friday. The stock has a market capitalization of $96.88 million, a PE ratio of -0.19 and a beta of 2.16. The business has a 50 day simple moving average of $4.86 and a two-hundred day simple moving average of $6.00. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.52 and a quick ratio of 4.52. Virgin Galactic has a 1-year low of $3.27 and a 1-year high of $36.60.

Analyst Upgrades and Downgrades

Separately, 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. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Virgin Galactic presently has a consensus rating of “Hold” and a consensus 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.