Daiwa Securities Group Inc. Purchases 20,163 Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Daiwa Securities Group Inc. raised its position in shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) by 99.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,508 shares of the company’s stock after purchasing an additional 20,163 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Virgin Galactic were worth $99,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SPCE. Vanguard Group Inc. boosted its holdings in shares of Virgin Galactic by 29.2% during the 3rd quarter. Vanguard Group Inc. now owns 30,165,775 shares of the company’s stock valued at $54,298,000 after acquiring an additional 6,823,646 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of Virgin Galactic during the 3rd quarter valued at about $703,000. Ballentine Partners LLC purchased a new stake in shares of Virgin Galactic during the 4th quarter valued at about $32,000. Rafferty Asset Management LLC boosted its holdings in shares of Virgin Galactic by 11.7% during the 3rd quarter. Rafferty Asset Management LLC now owns 272,306 shares of the company’s stock valued at $490,000 after acquiring an additional 28,587 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Virgin Galactic by 92.3% during the 3rd quarter. Citigroup Inc. now owns 761,902 shares of the company’s stock valued at $1,371,000 after acquiring an additional 365,657 shares during the last quarter. 46.62% of the stock is currently owned by institutional investors.

Virgin Galactic Stock Performance

SPCE opened at $0.89 on Friday. The company has a current ratio of 5.12, a quick ratio of 5.03 and a debt-to-equity ratio of 0.83. The company has a market cap of $355.04 million, a price-to-earnings ratio of -0.57 and a beta of 1.60. The company’s 50 day moving average is $1.40 and its 200 day moving average is $1.80. Virgin Galactic Holdings, Inc. has a 12-month low of $0.70 and a 12-month high of $6.17.

Virgin Galactic (NYSE:SPCE) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.05. Virgin Galactic had a negative net margin of 7,387.31% and a negative return on equity of 102.01%. The business had revenue of $2.81 million for the quarter, compared to the consensus estimate of $2.99 million. On average, equities research analysts predict that Virgin Galactic Holdings, Inc. will post -0.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SPCE. Truist Financial dropped their price target on shares of Virgin Galactic from $3.00 to $2.00 and set a “hold” rating on the stock in a report on Wednesday, February 28th. Wells Fargo & Company dropped their price objective on shares of Virgin Galactic from $1.75 to $1.00 and set an “underweight” rating on the stock in a report on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $2.30.

Virgin Galactic Company 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.