Stock Traders Purchase High Volume of Call Options on Virgin Galactic (NYSE:SPCE)

Virgin Galactic Holdings, Inc. (NYSE:SPCEGet Rating) was the target of some unusual options trading activity on Tuesday. Investors acquired 43,108 call options on the company. This represents an increase of 53% compared to the average daily volume of 28,091 call options.

Virgin Galactic Trading Up 12.6 %

Shares of Virgin Galactic stock opened at $4.91 on Tuesday. The company has a market capitalization of $1.35 billion, a P/E ratio of -2.34 and a beta of 1.08. The company has a debt-to-equity ratio of 1.13, a quick ratio of 4.70 and a current ratio of 4.82. The company has a fifty day moving average of $3.83 and a 200 day moving average of $4.56. Virgin Galactic has a fifty-two week low of $2.98 and a fifty-two week high of $8.56.

Virgin Galactic (NYSE:SPCEGet Rating) last issued its earnings results on Tuesday, May 9th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.07). Virgin Galactic had a negative return on equity of 107.33% and a negative net margin of 23,751.78%. The firm had revenue of $0.39 million during the quarter, compared to the consensus estimate of $1.32 million. During the same period in the prior year, the company posted ($0.36) EPS. The company’s quarterly revenue was up 296.5% on a year-over-year basis. On average, sell-side analysts anticipate that Virgin Galactic will post -2.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SPCE shares. Wolfe Research upgraded shares of Virgin Galactic from an “underperform” rating to a “peer perform” rating in a research note on Friday, February 17th. Susquehanna boosted their target price on shares of Virgin Galactic from $3.00 to $3.75 in a research note on Thursday, May 11th. Finally, KeyCorp initiated coverage on Virgin Galactic in a research note on Tuesday, January 24th. They issued a “sector weight” rating for the company. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.08.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board lifted its holdings in shares of Virgin Galactic by 177.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,586 shares of the company’s stock valued at $25,000 after acquiring an additional 1,654 shares during the last quarter. GPS Wealth Strategies Group LLC bought a new position in shares of Virgin Galactic in the 1st quarter valued at about $34,000. Capital Square LLC bought a new position in shares of Virgin Galactic in the 4th quarter valued at about $35,000. Apollon Wealth Management LLC bought a new position in shares of Virgin Galactic in the 1st quarter valued at about $41,000. Finally, Mackenzie Financial Corp lifted its holdings in shares of Virgin Galactic by 18.5% in the 4th quarter. Mackenzie Financial Corp now owns 12,148 shares of the company’s stock valued at $42,000 after acquiring an additional 1,900 shares during the last quarter. Institutional investors own 32.12% of the company’s stock.

Virgin Galactic Company Profile

(Get Rating)

Virgin Galactic Holdings, Inc focuses on the development, manufacture, and operation of spaceships and related technologies for conducting commercial human spaceflight and flying commercial research and development payloads into space. It is also involved in the ground and flight testing, and post-flight maintenance of its spaceflight system vehicles.

Further Reading

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