Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Virgin Galactic Holdings, Inc. (NYSE:SPCE – Free Report) by 39.9% during the fourth quarter, Holdings Channel reports. The fund owned 60,918 shares of the company’s stock after purchasing an additional 17,365 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Virgin Galactic were worth $149,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in SPCE. Vanguard Group Inc. raised its position in shares of Virgin Galactic by 29.2% in the third quarter. Vanguard Group Inc. now owns 30,165,775 shares of the company’s stock valued at $54,298,000 after purchasing an additional 6,823,646 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Virgin Galactic by 27.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,357,773 shares of the company’s stock valued at $4,244,000 after acquiring an additional 507,946 shares during the period. Bank of New York Mellon Corp lifted its position in Virgin Galactic by 6.6% during the third quarter. Bank of New York Mellon Corp now owns 958,542 shares of the company’s stock worth $1,725,000 after acquiring an additional 59,159 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Virgin Galactic by 44.2% during the third quarter. Penserra Capital Management LLC now owns 817,702 shares of the company’s stock worth $1,471,000 after acquiring an additional 250,583 shares during the period. Finally, Citigroup Inc. grew its position in shares of Virgin Galactic by 92.3% in the third quarter. Citigroup Inc. now owns 761,902 shares of the company’s stock valued at $1,371,000 after purchasing an additional 365,657 shares during the last quarter. Institutional investors and hedge funds own 46.62% of the company’s stock.
Virgin Galactic Price Performance
Virgin Galactic stock opened at $1.00 on Thursday. The firm has a market cap of $398.12 million, a PE ratio of -0.63 and a beta of 1.71. The company has a debt-to-equity ratio of 0.83, a current ratio of 5.12 and a quick ratio of 5.03. The stock’s fifty day moving average price is $1.28 and its two-hundred day moving average price is $1.76. Virgin Galactic Holdings, Inc. has a one year low of $0.70 and a one year high of $6.17.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on SPCE. Truist Financial reduced their price target on Virgin Galactic from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Wednesday, February 28th. Wells Fargo & Company reduced their target price on shares of Virgin Galactic from $1.75 to $1.00 and set an “underweight” rating for the company in a research report on Thursday, April 4th. Finally, Susquehanna decreased their price target on shares of Virgin Galactic from $2.00 to $1.10 and set a “neutral” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $2.12.
Check Out Our Latest Stock Analysis on Virgin Galactic
About Virgin Galactic
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.
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