Charles Schwab Investment Management Inc. Purchases 42,883 Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Charles Schwab Investment Management Inc. boosted its position in Virgin Galactic Holdings, Inc. (NYSE:SPCE) by 29.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,368 shares of the company’s stock after purchasing an additional 42,883 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.66% of Virgin Galactic worth $1,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. XTX Topco Ltd bought a new position in shares of Virgin Galactic in the second quarter worth approximately $145,000. Point72 DIFC Ltd purchased a new position in Virgin Galactic in the 2nd quarter worth approximately $240,000. Cubist Systematic Strategies LLC bought a new position in shares of Virgin Galactic in the 2nd quarter worth $492,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Virgin Galactic during the 2nd quarter valued at $98,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Virgin Galactic by 908.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 55,163 shares of the company’s stock worth $336,000 after acquiring an additional 49,693 shares during the last quarter. 46.62% of the stock is owned by institutional investors.

Virgin Galactic Stock Performance

Virgin Galactic stock opened at $6.57 on Wednesday. The firm has a fifty day simple moving average of $6.83 and a two-hundred day simple moving average of $7.51. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 1.15. Virgin Galactic Holdings, Inc. has a twelve month low of $5.26 and a twelve month high of $54.60. The company has a market capitalization of $189.56 million, a PE ratio of -0.38 and a beta of 1.75.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. The Goldman Sachs Group reduced their target price on Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Morgan Stanley reduced their price objective on Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.50.

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.