Traders Buy High Volume of Virgin Galactic Put Options (NYSE:SPCE)

Virgin Galactic Holdings, Inc. (NYSE:SPCE) was the recipient of unusually large options trading on Tuesday. Investors acquired 42,774 put options on the stock. This is an increase of 206% compared to the typical volume of 13,963 put options.

Analysts Set New Price Targets

A number of research firms have issued reports on SPCE. Wells Fargo & Company cut their target price on shares of Virgin Galactic from $1.75 to $1.00 and set an “underweight” rating on the stock in a research report on Thursday, April 4th. Truist Financial cut their price objective on shares of Virgin Galactic from $3.00 to $2.00 and set a “hold” rating on the stock in a report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $2.30.

Virgin Galactic Trading Up 6.1 %

NYSE:SPCE opened at $0.92 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 5.12 and a quick ratio of 5.03. Virgin Galactic has a 1-year low of $0.70 and a 1-year high of $6.17. The business’s 50-day moving average price is $1.34 and its two-hundred day moving average price is $1.78.

Virgin Galactic (NYSE:SPCE) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.05. Virgin Galactic had a negative return on equity of 102.01% and a negative net margin of 7,387.31%. The company had revenue of $2.81 million during the quarter, compared to analysts’ expectations of $2.99 million. As a group, research analysts expect that Virgin Galactic will post -0.96 earnings per share for the current year.

Institutional Investors Weigh In On Virgin Galactic

Several hedge funds have recently bought and sold shares of SPCE. Axxcess Wealth Management LLC acquired a new position in shares of Virgin Galactic in the 4th quarter valued at $27,000. Vanguard Personalized Indexing Management LLC acquired a new position in Virgin Galactic in the fourth quarter valued at about $30,000. Optas LLC bought a new stake in shares of Virgin Galactic in the fourth quarter worth about $31,000. Ballentine Partners LLC acquired a new stake in shares of Virgin Galactic during the fourth quarter worth about $32,000. Finally, Capital Square LLC acquired a new stake in shares of Virgin Galactic during the fourth quarter worth about $34,000. 46.62% of the stock is currently owned by institutional investors and hedge funds.

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.