Vontobel Holding Ltd. lowered its stake in shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE – Free Report) by 53.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,730 shares of the company’s stock after selling 35,900 shares during the period. Vontobel Holding Ltd.’s holdings in Virgin Galactic were worth $119,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in SPCE. BlackRock Inc. raised its holdings in Virgin Galactic by 3.3% during the first quarter. BlackRock Inc. now owns 20,320,988 shares of the company’s stock worth $82,300,000 after purchasing an additional 639,999 shares during the last quarter. Vanguard Group Inc. raised its holdings in Virgin Galactic by 3.1% during the third 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 during the last quarter. State Street Corp increased its holdings in Virgin Galactic by 2.7% during the 1st quarter. State Street Corp now owns 17,769,339 shares of the company’s stock valued at $71,966,000 after acquiring an additional 461,061 shares in the last quarter. Geode Capital Management LLC grew its holdings in Virgin Galactic by 5.9% during the 1st quarter. Geode Capital Management LLC now owns 4,549,783 shares of the company’s stock valued at $18,427,000 after buying an additional 255,231 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Virgin Galactic by 149.3% in the 2nd quarter. Northern Trust Corp now owns 2,003,233 shares of the company’s stock valued at $12,060,000 after purchasing an additional 1,199,760 shares in the last quarter. Hedge funds and other institutional investors own 28.46% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, Morgan Stanley restated an “equal weight” rating and issued a $4.00 target price on shares of Virgin Galactic in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.42.
Virgin Galactic Stock Up 5.8 %
Shares of SPCE opened at $1.64 on Monday. The company’s fifty day moving average is $2.28 and its two-hundred day moving average is $3.35. The firm has a market cap of $602.10 million, a PE ratio of -0.77 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 fifty-two week low of $1.53 and a fifty-two week high of $6.61.
Virgin Galactic (NYSE:SPCE – Get Free Report) last released its quarterly earnings data on Tuesday, August 1st. The company reported ($0.46) EPS for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.05. The company had revenue of $1.87 million for the quarter, compared to the consensus estimate of $2.52 million. Virgin Galactic had a negative return on equity of 121.36% and a negative net margin of 15,135.24%. The company’s quarterly revenue was up 424.1% compared to the same quarter last year. During the same period last year, the business posted ($0.43) EPS. Analysts forecast that Virgin Galactic Holdings, Inc. will post -1.85 earnings per share for the current year.
Virgin Galactic Company 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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