Quadrature Capital Ltd Sells 69,606 Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Quadrature Capital Ltd lessened its stake in shares of Virgin Galactic Holdings, Inc. (NYSE:SPCEFree Report) by 10.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 581,160 shares of the company’s stock after selling 69,606 shares during the quarter. Quadrature Capital Ltd owned approximately 0.15% of Virgin Galactic worth $1,421,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Virgin Galactic by 29.2% during the third quarter. Vanguard Group Inc. now owns 30,165,775 shares of the company’s stock worth $54,298,000 after buying an additional 6,823,646 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Virgin Galactic by 14.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,707,073 shares of the company’s stock worth $6,632,000 after purchasing an additional 349,300 shares during the last quarter. Penserra Capital Management LLC grew its stake in shares of Virgin Galactic by 44.2% in the third quarter. Penserra Capital Management LLC now owns 817,702 shares of the company’s stock worth $1,471,000 after purchasing an additional 250,583 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Virgin Galactic by 57.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 800,968 shares of the company’s stock worth $1,850,000 after purchasing an additional 291,757 shares during the last quarter. Finally, Citigroup Inc. grew its stake in shares of Virgin Galactic by 92.3% in the third quarter. Citigroup Inc. now owns 761,902 shares of the company’s stock worth $1,371,000 after purchasing an additional 365,657 shares during the last quarter. Institutional investors own 46.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Virgin Galactic from $1.00 to $0.75 and set an “underweight” rating on the stock in a research note on Thursday, May 9th. Truist Financial reduced their price objective on shares of Virgin Galactic from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Wednesday, February 28th. TD Cowen dropped their target price on shares of Virgin Galactic from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Monday, May 13th. Susquehanna dropped their target price on shares of Virgin Galactic from $2.00 to $1.10 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Finally, The Goldman Sachs Group dropped their target price on shares of Virgin Galactic from $4.00 to $3.50 and set a “neutral” rating on the stock in a report on Monday, May 13th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Virgin Galactic has an average rating of “Hold” and a consensus target price of $2.26.

Check Out Our Latest Stock Report on SPCE

Virgin Galactic Stock Performance

Shares of NYSE SPCE opened at $0.81 on Tuesday. The firm’s 50-day moving average price is $0.98 and its 200-day moving average price is $1.62. Virgin Galactic Holdings, Inc. has a 1-year low of $0.70 and a 1-year high of $6.17. The company has a current ratio of 4.88, a quick ratio of 4.88 and a debt-to-equity ratio of 1.00.

Virgin Galactic (NYSE:SPCEGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.01. Virgin Galactic had a negative net margin of 5,301.61% and a negative return on equity of 87.99%. The firm had revenue of $1.99 million for the quarter, compared to analyst estimates of $2.05 million. During the same quarter in the prior year, the business earned ($0.57) earnings per share. The business’s quarterly revenue was up 406.4% compared to the same quarter last year. On average, equities research analysts expect that Virgin Galactic Holdings, Inc. will post -0.94 EPS for the current year.

About Virgin Galactic

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Virgin Galactic (NYSE:SPCE)

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