Arizona State Retirement System Purchases 7,204 Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Arizona State Retirement System grew its position in Virgin Galactic Holdings, Inc. (NYSE:SPCE) by 11.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,848 shares of the company’s stock after acquiring an additional 7,204 shares during the quarter. Arizona State Retirement System’s holdings in Virgin Galactic were worth $275,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. LPL Financial LLC lifted its position in shares of Virgin Galactic by 54.0% in the 2nd quarter. LPL Financial LLC now owns 148,470 shares of the company’s stock worth $576,000 after acquiring an additional 52,074 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of Virgin Galactic by 30.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 20,345 shares of the company’s stock worth $79,000 after buying an additional 4,699 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in shares of Virgin Galactic by 11.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 67,721 shares of the company’s stock worth $263,000 after buying an additional 7,226 shares during the period. FinTrust Capital Advisors LLC lifted its position in shares of Virgin Galactic by 267.1% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 34,359 shares of the company’s stock worth $130,000 after buying an additional 25,000 shares during the period. Finally, Newbridge Financial Services Group Inc. lifted its position in shares of Virgin Galactic by 45.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 10,300 shares of the company’s stock worth $40,000 after buying an additional 3,200 shares during the period. Institutional investors own 28.46% of the company’s stock.

Virgin Galactic Trading Down 10.6 %

Shares of SPCE opened at $1.56 on Thursday. The stock has a fifty day moving average price of $1.81 and a two-hundred day moving average price of $3.11. The company has a debt-to-equity ratio of 0.86, a quick ratio of 5.35 and a current ratio of 5.45. Virgin Galactic Holdings, Inc. has a 52-week low of $1.38 and a 52-week high of $6.61. The company has a market cap of $570.90 million, a price-to-earnings ratio of -0.73 and a beta of 1.32.

Analyst Ratings Changes

Several equities analysts recently commented on SPCE shares. Morgan Stanley restated an “equal weight” rating and set a $4.00 target price on shares of Virgin Galactic in a research report on Thursday, August 3rd. Truist Financial cut their target price on Virgin Galactic from $3.00 to $1.00 and set a “sell” rating for the company in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $3.90.

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.