Virtu Financial LLC Buys Shares of 11,432 Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Virtu Financial LLC purchased a new position in Virgin Galactic Holdings, Inc. (NYSE:SPCE) in the third quarter, Holdings Channel reports. The institutional investor purchased 11,432 shares of the company’s stock, valued at approximately $70,000.

Several other hedge funds also recently made changes to their positions in SPCE. Geode Capital Management LLC lifted its holdings in Virgin Galactic by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 508,088 shares of the company’s stock worth $3,101,000 after purchasing an additional 88,102 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Virgin Galactic by 29.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 187,368 shares of the company’s stock valued at $1,143,000 after buying an additional 42,883 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Virgin Galactic in the second quarter worth about $492,000. Nisa Investment Advisors LLC boosted its position in shares of Virgin Galactic by 908.5% in the third quarter. Nisa Investment Advisors LLC now owns 55,163 shares of the company’s stock valued at $336,000 after acquiring an additional 49,693 shares during the period. Finally, Zacks Investment Management grew its stake in Virgin Galactic by 40.3% during the third quarter. Zacks Investment Management now owns 35,439 shares of the company’s stock valued at $216,000 after acquiring an additional 10,172 shares in the last quarter. 46.62% of the stock is currently owned by hedge funds and other institutional investors.

Virgin Galactic Trading Up 2.0 %

Shares of SPCE stock opened at $6.10 on Friday. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 1.15. The firm has a market cap of $176.14 million, a P/E ratio of -0.35 and a beta of 1.75. The business has a 50-day moving average price of $6.83 and a two-hundred day moving average price of $7.41. Virgin Galactic Holdings, Inc. has a 12-month low of $5.26 and a 12-month high of $54.60.

Virgin Galactic (NYSE:SPCE) last released its earnings results on Wednesday, November 6th. The company reported ($2.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.10) by $1.44. Virgin Galactic had a negative return on equity of 88.09% and a negative net margin of 3,975.27%. The company had revenue of $0.40 million during the quarter, compared to the consensus estimate of $0.47 million. During the same quarter in the previous year, the company posted ($5.60) EPS. Equities analysts anticipate that Virgin Galactic Holdings, Inc. will post -16.05 EPS for the current fiscal year.

Analyst Ratings Changes

SPCE has been the topic of several research analyst reports. The Goldman Sachs Group decreased their price target on shares of Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Morgan Stanley decreased their target price on Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating on the stock in a research note on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $25.50.

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.