Virgin Galactic Holdings, Inc. (NYSE:SPCE – Get Rating) saw unusually large options trading activity on Tuesday. Stock traders purchased 61,742 call options on the stock. This is an increase of 83% compared to the typical daily volume of 33,679 call options.
Analyst Ratings Changes
Several research analysts recently commented on SPCE shares. Canaccord Genuity Group lowered shares of Virgin Galactic from a “buy” rating to a “hold” rating and cut their price target for the company from $36.00 to $8.00 in a report on Friday, May 6th. Canaccord Genuity Group cut shares of Virgin Galactic from a “buy” rating to a “hold” rating and cut their price objective for the company from $36.00 to $8.00 in a research note on Friday, May 6th. Wells Fargo & Company began coverage on shares of Virgin Galactic in a research report on Tuesday, June 21st. They issued an “underweight” rating and a $4.00 price target on the stock. Finally, Truist Financial cut shares of Virgin Galactic from a “hold” rating to a “sell” rating and dropped their price target for the stock from $8.00 to $5.00 in a research report on Friday, August 5th. Five investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.45.
Institutional Investors Weigh In On Virgin Galactic
Institutional investors have recently made changes to their positions in the stock. Westside Investment Management Inc. grew its position in shares of Virgin Galactic by 635.8% in the 1st quarter. Westside Investment Management Inc. now owns 2,546 shares of the company’s stock valued at $7,921,000 after buying an additional 2,200 shares during the last quarter. Canada Pension Plan Investment Board grew its position 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 buying an additional 1,654 shares during the last quarter. AdvisorNet Financial Inc grew its position in shares of Virgin Galactic by 1,128.0% in the 1st quarter. AdvisorNet Financial Inc now owns 3,070 shares of the company’s stock valued at $30,000 after buying an additional 2,820 shares during the last quarter. Itau Unibanco Holding S.A. grew its position in shares of Virgin Galactic by 73.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 3,086 shares of the company’s stock valued at $43,000 after buying an additional 1,308 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Virgin Galactic by 123.3% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,350 shares of the company’s stock valued at $33,000 after buying an additional 1,850 shares during the last quarter. Institutional investors own 29.70% of the company’s stock.
Virgin Galactic Stock Up 0.4 %
Shares of NYSE SPCE traded up $0.03 during midday trading on Tuesday, hitting $7.11. 317,129 shares of the company’s stock were exchanged, compared to its average volume of 7,150,116. The company has a debt-to-equity ratio of 0.64, a quick ratio of 6.22 and a current ratio of 6.44. Virgin Galactic has a 12 month low of $5.14 and a 12 month high of $28.77. The company’s 50 day moving average price is $6.84 and its 200 day moving average price is $7.75.
Virgin Galactic (NYSE:SPCE – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.05). Virgin Galactic had a negative return on equity of 40.77% and a negative net margin of 9,801.09%. The firm had revenue of $0.36 million for the quarter, compared to the consensus estimate of $0.08 million. During the same quarter in the prior year, the firm earned ($0.39) EPS. The company’s revenue was down 37.5% on a year-over-year basis. Equities research analysts predict that Virgin Galactic will post -1.58 earnings per share for the current year.
Virgin Galactic Company Profile
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.