Virgin Galactic Holdings, Inc. (NYSE:SPCE) Position Cut by Barclays PLC

Barclays PLC trimmed its holdings in Virgin Galactic Holdings, Inc. (NYSE:SPCE) by 40.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,994 shares of the company’s stock after selling 17,982 shares during the quarter. Barclays PLC owned about 0.09% of Virgin Galactic worth $165,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SPCE. Geode Capital Management LLC boosted its stake in shares of 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 acquiring an additional 88,102 shares in the last quarter. FMR LLC boosted its stake in shares of Virgin Galactic by 29.7% during the 3rd quarter. FMR LLC now owns 24,749 shares of the company’s stock worth $151,000 after acquiring an additional 5,669 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Virgin Galactic during the 2nd quarter worth $492,000. XTX Topco Ltd bought a new stake in shares of Virgin Galactic during the 2nd quarter worth $145,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Virgin Galactic during the 2nd quarter worth $98,000. 46.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group reduced their target price on Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Virgin Galactic currently has a consensus rating of “Hold” and a consensus price target of $25.50.

Virgin Galactic Trading Down 2.1 %

Shares of NYSE:SPCE opened at $5.38 on Thursday. The company has a market cap of $155.23 million, a P/E ratio of -0.31 and a beta of 1.72. The stock’s 50-day moving average is $6.33 and its 200-day moving average is $6.53. Virgin Galactic Holdings, Inc. has a 52-week low of $5.06 and a 52-week high of $43.20. The company has a debt-to-equity ratio of 1.15, a quick ratio of 4.52 and a current ratio of 4.52.

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 business had revenue of $0.40 million for the quarter, compared to the consensus estimate of $0.47 million. During the same period last year, the business earned ($5.60) earnings per share. Equities research analysts predict that Virgin Galactic Holdings, Inc. will post -16.05 earnings per share for the current year.

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.