Stock Traders Buy Large Volume of Virgin Galactic Put Options (NASDAQ:SPCE)

Virgin Galactic Holdings (NASDAQ:SPCE) saw unusually large options trading activity on Wednesday. Stock traders purchased 15,065 put options on the stock. This is an increase of approximately 1,135% compared to the average daily volume of 1,220 put options.

A number of equities research analysts have issued reports on SPCE shares. Credit Suisse Group began coverage on Virgin Galactic in a research report on Wednesday, November 27th. They set an “outperform” rating and a $12.43 target price for the company. Vertical Research initiated coverage on shares of Virgin Galactic in a research report on Tuesday, November 5th. They set a “buy” rating and a $20.00 target price on the stock. Finally, Morgan Stanley initiated coverage on shares of Virgin Galactic in a report on Monday, December 9th. They issued an “overweight” rating and a $22.00 target price on the stock.

Shares of Virgin Galactic stock traded up $0.73 on Thursday, reaching $15.57. 131,444 shares of the company traded hands, compared to its average volume of 5,663,206. The business has a 50 day moving average of $10.19. Virgin Galactic has a 52 week low of $6.90 and a 52 week high of $15.97.

Virgin Galactic (NASDAQ:SPCE) last announced its earnings results on Tuesday, November 12th. The company reported ($0.20) earnings per share (EPS) for the quarter.

In other Virgin Galactic news, CEO George Thomas Whitesides acquired 5,850 shares of Virgin Galactic stock in a transaction dated Monday, December 9th. The stock was acquired at an average cost of $7.26 per share, for a total transaction of $42,471.00. Also, major shareholder Vieco Usa, Inc. sold 10,000,000 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $10.99, for a total transaction of $109,900,000.00.

A hedge fund recently bought a new stake in Virgin Galactic stock. CenterStar Asset Management LLC acquired a new stake in shares of Virgin Galactic Holdings (NASDAQ:SPCE) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 12,085 shares of the company’s stock, valued at approximately $139,000.

Virgin Galactic Company Profile

Virgin Galactic, LLC provides spaceline services. The company offers suborbital research flights to scientific research community. It also operates a spaceport for astronaut training and flights operations.Virgin Galactic, LLC was founded in 2004 and is based in Mojave, California with additional offices in Las Cruces, New York, London, Pasadena, and Washington, DC Virgin Galactic, LLC operates as a subsidiary of Virgin Group Ltd.

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