Fmr LLC Has $151,000 Holdings in Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Fmr LLC boosted its stake in shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) by 29.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,749 shares of the company’s stock after acquiring an additional 5,669 shares during the quarter. Fmr LLC owned approximately 0.09% of Virgin Galactic worth $151,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SPCE. Cubist Systematic Strategies LLC acquired a new stake in Virgin Galactic during the 2nd quarter worth approximately $492,000. Nisa Investment Advisors LLC increased its stake 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 purchasing an additional 49,693 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Virgin Galactic by 29.7% in 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 last quarter. Point72 DIFC Ltd bought a new position in shares of Virgin Galactic during the 2nd quarter worth approximately $240,000. Finally, XTX Topco Ltd acquired a new position in Virgin Galactic in the 2nd quarter valued at about $145,000. 46.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Virgin Galactic Price Performance

SPCE stock opened at $6.10 on Monday. The company has a current ratio of 4.52, a quick ratio of 4.52 and a debt-to-equity ratio of 1.15. Virgin Galactic Holdings, Inc. has a 12 month low of $5.26 and a 12 month high of $54.60. The firm has a market capitalization of $176.14 million, a P/E ratio of -0.35 and a beta of 1.75. The firm has a 50 day moving average of $6.83 and a 200-day moving average of $7.34.

Virgin Galactic (NYSE:SPCE) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($2.66) EPS for the quarter, beating the consensus estimate 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 return on equity of 88.09% and a negative net margin of 3,975.27%. During the same period in the prior year, the company earned ($5.60) EPS. As a group, sell-side analysts predict that Virgin Galactic Holdings, Inc. will post -16.05 earnings per share for the current fiscal year.

Virgin Galactic 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.