Exchange Traded Concepts LLC acquired a new stake in Virgin Galactic Holdings, Inc. (NYSE:SPCE – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 9,000 shares of the company’s stock, valued at approximately $35,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Virgin Galactic by 3.3% in the 1st quarter. BlackRock Inc. now owns 20,320,988 shares of the company’s stock valued at $82,300,000 after buying an additional 639,999 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Virgin Galactic by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 18,656,987 shares of the company’s stock worth $87,874,000 after purchasing an additional 558,020 shares in the last quarter. State Street Corp grew its holdings in shares of Virgin Galactic by 2.7% during the 1st quarter. State Street Corp now owns 17,769,339 shares of the company’s stock worth $71,966,000 after purchasing an additional 461,061 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Virgin Galactic by 5.9% during the 1st quarter. Geode Capital Management LLC now owns 4,549,783 shares of the company’s stock worth $18,427,000 after purchasing an additional 255,231 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Virgin Galactic by 149.3% during the 2nd quarter. Northern Trust Corp now owns 2,003,233 shares of the company’s stock worth $12,060,000 after purchasing an additional 1,199,760 shares in the last quarter. 28.46% of the stock is owned by institutional investors and hedge funds.
Virgin Galactic Stock Performance
NYSE:SPCE opened at $1.66 on Thursday. The stock’s 50-day simple moving average is $2.37 and its 200 day simple moving average is $3.39. The firm has a market capitalization of $607.62 million, a PE ratio of -0.78 and a beta of 1.25. The company has a quick ratio of 5.35, a current ratio of 5.45 and a debt-to-equity ratio of 0.86. Virgin Galactic Holdings, Inc. has a twelve month low of $1.53 and a twelve month high of $6.61.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on SPCE shares. Morgan Stanley reissued an “equal weight” rating and set a $4.00 target price on shares of Virgin Galactic in a report on Thursday, August 3rd. Alembic Global Advisors raised Virgin Galactic from an “underweight” rating to a “neutral” rating and set a $4.75 target price on the stock in a report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, Virgin Galactic currently has a consensus rating of “Hold” and an average price target of $5.42.
Read Our Latest Analysis on Virgin Galactic
Virgin Galactic Profile
Virgin Galactic Holdings, Inc focuses on the development, manufacture, and operation of spaceships and related technologies for conducting commercial human spaceflight and flying commercial research and development payloads into space. It is also involved in the ground and flight testing, and post-flight maintenance of its spaceflight system vehicles.
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