ABC Arbitrage SA Boosts Holdings in Virgin Galactic Holdings, Inc. $SPCE

ABC Arbitrage SA lifted its stake in shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) by 33.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,973 shares of the company’s stock after purchasing an additional 18,465 shares during the period. ABC Arbitrage SA owned about 0.18% of Virgin Galactic worth $202,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Apollon Wealth Management LLC purchased a new position in Virgin Galactic in the 1st quarter valued at about $31,000. Cerity Partners LLC purchased a new position in shares of Virgin Galactic in the first quarter valued at approximately $32,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Virgin Galactic in the first quarter valued at approximately $33,000. Caption Management LLC boosted its stake in shares of Virgin Galactic by 112.1% in the first quarter. Caption Management LLC now owns 11,555 shares of the company’s stock worth $35,000 after acquiring an additional 107,315 shares during the last quarter. Finally, Marathon Trading Investment Management LLC purchased a new stake in shares of Virgin Galactic during the first quarter worth approximately $38,000. Institutional investors and hedge funds own 46.62% of the company’s stock.

Virgin Galactic Stock Down 0.1%

Shares of NYSE:SPCE opened at $3.64 on Thursday. Virgin Galactic Holdings, Inc. has a 52-week low of $2.18 and a 52-week high of $8.19. The stock has a market cap of $209.34 million, a P/E ratio of -0.40 and a beta of 2.28. The business has a fifty day moving average of $3.74 and a two-hundred day moving average of $3.44. The company has a quick ratio of 3.38, a current ratio of 3.38 and a debt-to-equity ratio of 1.60.

Analyst Ratings Changes

SPCE has been the topic of a number of research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Virgin Galactic in a report on Wednesday, October 8th. Susquehanna reissued a “neutral” rating and issued a $4.00 price target (up from $3.25) on shares of Virgin Galactic in a research note on Thursday, October 9th. Finally, Wall Street Zen upgraded shares of Virgin Galactic from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Virgin Galactic currently has a consensus rating of “Hold” and a consensus target price of $5.00.

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.