Virgin Galactic (NYSE:SPCE) Trading 2.5% Higher – Should You Buy?

Virgin Galactic Holdings, Inc. (NYSE:SPCE) shares were up 2.5% during trading on Friday . The company traded as high as $4.46 and last traded at $4.38. Approximately 890,138 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 1,910,207 shares. The stock had previously closed at $4.27.

Virgin Galactic Stock Up 2.5 %

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 $126.35 million, a PE ratio of -0.25 and a beta of 1.74. The stock has a 50-day simple moving average of $5.53 and a two-hundred day simple moving average of $6.22.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC raised its position in Virgin Galactic by 97.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,943 shares of the company’s stock valued at $47,000 after purchasing an additional 3,916 shares during the last quarter. Quarry LP bought a new stake in Virgin Galactic in the third quarter valued at $49,000. Virtu Financial LLC purchased a new position in Virgin Galactic during the 3rd quarter valued at $70,000. Summit Securities Group LLC purchased a new stake in shares of Virgin Galactic in the 4th quarter worth about $71,000. Finally, Corebridge Financial Inc. boosted its position in Virgin Galactic by 28.8% during the 4th quarter. Corebridge Financial Inc. now owns 13,172 shares of the company’s stock valued at $77,000 after acquiring an additional 2,942 shares in the last quarter. 46.62% of the stock is currently owned by institutional investors.

About Virgin Galactic

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.