Virgin Galactic Holdings, Inc. $SPCE Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) by 8.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 240,831 shares of the company’s stock after acquiring an additional 18,949 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.68% of Virgin Galactic worth $730,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Federated Hermes Inc. boosted its holdings in Virgin Galactic by 134.7% in the 1st quarter. Federated Hermes Inc. now owns 1,956,199 shares of the company’s stock worth $5,927,000 after acquiring an additional 1,122,535 shares during the period. Wealthquest Corp acquired a new stake in shares of Virgin Galactic during the 1st quarter valued at approximately $1,340,000. Millennium Management LLC raised its position in shares of Virgin Galactic by 62.0% during the 4th quarter. Millennium Management LLC now owns 946,956 shares of the company’s stock valued at $5,568,000 after acquiring an additional 362,421 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Virgin Galactic in the fourth quarter worth $715,000. Finally, Northern Trust Corp increased its position in Virgin Galactic by 39.6% in the fourth quarter. Northern Trust Corp now owns 222,753 shares of the company’s stock worth $1,310,000 after buying an additional 63,141 shares during the period. Institutional investors and hedge funds own 46.62% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wall Street Zen raised Virgin Galactic from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. 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 report on Friday, May 16th. Finally, The Goldman Sachs Group started coverage on Virgin Galactic in a report on Monday, June 30th. They set a “neutral” rating and a $3.00 target price on the stock. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Virgin Galactic has a consensus rating of “Hold” and an average price target of $4.81.

Virgin Galactic Stock Down 1.1%

Shares of SPCE stock opened at $3.08 on Wednesday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 3.38 and a current ratio of 3.38. The stock’s 50 day simple moving average is $3.29 and its 200 day simple moving average is $3.28. The company has a market capitalization of $177.09 million, a price-to-earnings ratio of -0.34 and a beta of 2.13. Virgin Galactic Holdings, Inc. has a twelve month low of $2.18 and a twelve month high of $8.19.

Virgin Galactic (NYSE:SPCE) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($1.47) earnings per share for the quarter, topping the consensus estimate of ($2.12) by $0.65. The company had revenue of $0.41 million for the quarter, compared to analyst estimates of $0.45 million. Virgin Galactic had a negative return on equity of 98.94% and a negative net margin of 17,828.03%. As a group, research analysts predict that Virgin Galactic Holdings, Inc. will post -16.05 EPS for the current year.

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.