Tower Research Capital LLC TRC Sells 12,145 Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Tower Research Capital LLC TRC lessened its holdings in Virgin Galactic Holdings, Inc. (NYSE:SPCE) by 72.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,593 shares of the company’s stock after selling 12,145 shares during the period. Tower Research Capital LLC TRC’s holdings in Virgin Galactic were worth $27,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SPCE. Steward Partners Investment Advisory LLC raised its position in shares of Virgin Galactic by 97.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,943 shares of the company’s stock worth $47,000 after buying an additional 3,916 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Virgin Galactic in the fourth quarter worth $71,000. Corebridge Financial Inc. raised its position in shares of Virgin Galactic by 28.8% in the fourth quarter. Corebridge Financial Inc. now owns 13,172 shares of the company’s stock worth $77,000 after buying an additional 2,942 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Virgin Galactic in the fourth quarter worth $80,000. Finally, Wells Fargo & Company MN raised its position in shares of Virgin Galactic by 70.7% in the fourth quarter. Wells Fargo & Company MN now owns 16,227 shares of the company’s stock worth $95,000 after buying an additional 6,722 shares in the last quarter. Hedge funds and other institutional investors own 46.62% of the company’s stock.

Virgin Galactic Trading Up 43.1%

NYSE SPCE opened at $4.80 on Friday. The stock’s 50-day simple moving average is $3.06 and its two-hundred day simple moving average is $4.73. Virgin Galactic Holdings, Inc. has a twelve month low of $2.18 and a twelve month high of $23.00. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $170.36 million, a price-to-earnings ratio of -0.28 and a beta of 2.10.

Virgin Galactic (NYSE:SPCE) last released its quarterly earnings results on Thursday, May 15th. The company reported ($2.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.23) by ($0.15). Virgin Galactic had a negative net margin of 3,975.27% and a negative return on equity of 88.09%. The firm had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $0.33 million. Research analysts forecast that Virgin Galactic Holdings, Inc. will post -16.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SPCE. The Goldman Sachs Group lowered their price objective on Virgin Galactic from $41.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Susquehanna lowered their price objective on Virgin Galactic from $4.00 to $3.25 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Finally, Jefferies Financial Group lowered their price target on Virgin Galactic from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday.

Virgin Galactic 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.