Price T Rowe Associates Inc. MD Sells 8,229 Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Price T Rowe Associates Inc. MD lessened its stake in shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) by 25.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,430 shares of the company’s stock after selling 8,229 shares during the period. Price T Rowe Associates Inc. MD owned about 0.08% of Virgin Galactic worth $144,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Federated Hermes Inc. increased its position in Virgin Galactic by 1,246.5% during the fourth quarter. Federated Hermes Inc. now owns 833,664 shares of the company’s stock worth $4,902,000 after buying an additional 771,749 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Virgin Galactic during the fourth quarter worth approximately $715,000. Geode Capital Management LLC increased its position in Virgin Galactic by 19.1% during the fourth quarter. Geode Capital Management LLC now owns 605,362 shares of the company’s stock worth $3,561,000 after buying an additional 97,274 shares during the last quarter. MYDA Advisors LLC acquired a new position in Virgin Galactic during the fourth quarter worth approximately $432,000. Finally, Charles Schwab Investment Management Inc. increased its position in Virgin Galactic by 18.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 221,882 shares of the company’s stock worth $1,305,000 after buying an additional 34,514 shares during the last quarter. Institutional investors own 46.62% of the company’s stock.

Virgin Galactic Trading Up 43.1%

Shares of NYSE:SPCE opened at $4.80 on Friday. The company has a market capitalization of $170.36 million, a P/E ratio of -0.28 and a beta of 2.10. Virgin Galactic Holdings, Inc. has a 1 year low of $2.18 and a 1 year high of $23.00. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.52 and a quick ratio of 4.52. The business’s 50 day simple moving average is $3.06 and its 200 day simple moving average is $4.71.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. 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. Susquehanna reduced their price target 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, The Goldman Sachs Group reduced their price target 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.

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.