Federated Hermes Inc. Grows Holdings in Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Federated Hermes Inc. raised its position in Virgin Galactic Holdings, Inc. (NYSE:SPCE - Free Report) by 1,246.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 833,664 shares of the company's stock after buying an additional 771,749 shares during the quarter. Federated Hermes Inc. owned about 2.89% of Virgin Galactic worth $4,902,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Corebridge Financial Inc. grew its holdings in Virgin Galactic by 28.8% during the fourth quarter. Corebridge Financial Inc. now owns 13,172 shares of the company's stock worth $77,000 after acquiring an additional 2,942 shares during the period. Bank of New York Mellon Corp grew its position in Virgin Galactic by 6.8% during the fourth quarter. Bank of New York Mellon Corp now owns 60,688 shares of the company's stock worth $357,000 after buying an additional 3,888 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in shares of Virgin Galactic by 97.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,943 shares of the company's stock worth $47,000 after acquiring an additional 3,916 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Virgin Galactic by 19.4% in the 4th quarter. Rhumbline Advisers now owns 33,205 shares of the company's stock worth $195,000 after acquiring an additional 5,384 shares during the period. Finally, FMR LLC boosted its position in shares of Virgin Galactic by 29.7% in the 3rd quarter. FMR LLC now owns 24,749 shares of the company's stock worth $151,000 after buying an additional 5,669 shares in the last quarter. 46.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on SPCE shares. The Goldman Sachs Group cut their price target on Virgin Galactic from $41.00 to $36.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Susquehanna lowered their price target on Virgin Galactic from $4.00 to $3.25 and set a "neutral" rating for the company in a report on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $19.85.

Virgin Galactic Stock Down 2.1 %

NYSE:SPCE traded down $0.05 during mid-day trading on Thursday, hitting $2.48. The company had a trading volume of 447,736 shares, compared to its average volume of 1,857,534. Virgin Galactic Holdings, Inc. has a 1 year low of $2.18 and a 1 year high of $28.20. The business has a fifty day simple moving average of $3.46 and a 200-day simple moving average of $5.29. The company has a current ratio of 4.52, a quick ratio of 4.52 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $88.00 million, a price-to-earnings ratio of -0.14 and a beta of 2.11.

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.