BNP Paribas Financial Markets Lowers Stock Position in Virgin Galactic Holdings, Inc. (NYSE:SPCE)

BNP Paribas Financial Markets decreased its position in Virgin Galactic Holdings, Inc. (NYSE:SPCE) by 79.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,412 shares of the company’s stock after selling 29,358 shares during the period. BNP Paribas Financial Markets’ holdings in Virgin Galactic were worth $45,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new position in shares of Virgin Galactic in the 2nd quarter valued at about $492,000. XTX Topco Ltd purchased a new stake in shares of Virgin Galactic in the second quarter valued at approximately $145,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Virgin Galactic during the 2nd quarter worth approximately $98,000. Nisa Investment Advisors LLC lifted its position 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 valued at $336,000 after buying an additional 49,693 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in Virgin Galactic in the 2nd quarter valued at $240,000. Institutional investors and hedge funds own 46.62% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on SPCE shares. The Goldman Sachs Group reduced their price objective on shares of Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Morgan Stanley reduced their price target on shares of Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating for the company in a research report on Tuesday, September 17th. 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 company’s stock. Based on data from MarketBeat.com, Virgin Galactic currently has a consensus rating of “Hold” and an average price target of $25.50.

Virgin Galactic Trading Down 3.4 %

Shares of SPCE opened at $5.98 on Friday. Virgin Galactic Holdings, Inc. has a 52-week low of $5.26 and a 52-week high of $54.60. The stock has a market cap of $172.67 million, a PE ratio of -0.35 and a beta of 1.75. The firm’s fifty day moving average is $6.83 and its two-hundred day moving average is $7.49. 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 (NYSE:SPCE) last posted its quarterly 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. The firm had revenue of $0.40 million for the quarter, compared to analyst estimates of $0.47 million. Virgin Galactic had a negative net margin of 3,975.27% and a negative return on equity of 88.09%. During the same period in the previous year, the business posted ($5.60) earnings per share. Research analysts forecast that Virgin Galactic Holdings, Inc. will post -16.05 earnings per share for the current fiscal year.

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.