AXQ Capital LP Invests $216,000 in Virgin Galactic Holdings, Inc. $SPCE

Key Points

• AXQ Capital LP opened a new position in Virgin Galactic (NYSE:SPCE), buying 78,983 shares worth about $216,000, or roughly 0.19% of the company.
• Other institutions including Federated Hermes, Invesco, Wealthquest, Charles Schwab and Deutsche Bank materially increased or added stakes, and institutional investors now own 46.62% of the stock.
• SPCE shares opened at $3.51 with a market capitalization of $201.85 million; the company has negative earnings, and analysts carry an average rating of "Hold" with an average target of $5.00.

AXQ Capital LP purchased a new position in Virgin Galactic Holdings, Inc. (NYSE:SPCE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 78,983 shares of the company's stock, valued at approximately $216,000. AXQ Capital LP owned about 0.19% of Virgin Galactic as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its stake in Virgin Galactic by 134.7% during the 1st quarter. Federated Hermes Inc. now owns 1,956,199 shares of the company's stock valued at $5,927,000 after purchasing an additional 1,122,535 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Virgin Galactic by 510.9% during the 1st quarter. Invesco Ltd. now owns 107,641 shares of the company's stock valued at $326,000 after acquiring an additional 90,021 shares during the last quarter. Wealthquest Corp bought a new position in shares of Virgin Galactic during the 1st quarter valued at $1,340,000. Charles Schwab Investment Management Inc. increased its position in shares of Virgin Galactic by 8.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 240,831 shares of the company's stock valued at $730,000 after purchasing an additional 18,949 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of Virgin Galactic by 132.4% during the 1st quarter. Deutsche Bank AG now owns 18,573 shares of the company's stock valued at $56,000 after acquiring an additional 10,580 shares during the period. Institutional investors own 46.62% of the company's stock.

Virgin Galactic Trading Up 4.3%

Shares of SPCE stock opened at $3.51 on Wednesday. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 1.87. The stock has a market capitalization of $201.85 million, a price-to-earnings ratio of -0.47 and a beta of 2.28. Virgin Galactic Holdings, Inc. has a 12-month low of $2.18 and a 12-month high of $7.59. The stock's 50-day moving average price is $3.79 and its 200-day moving average price is $3.48.

Virgin Galactic (NYSE:SPCE - Get Free Report) last released its quarterly earnings results on Thursday, November 13th. The company reported ($1.09) earnings per share for the quarter, beating the consensus estimate of ($1.51) by $0.42. Virgin Galactic had a negative return on equity of 108.00% and a negative net margin of 17,615.71%.The business had revenue of $0.37 million during the quarter, compared to analysts' expectations of $0.32 million. Equities research analysts predict that Virgin Galactic Holdings, Inc. will post -16.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on SPCE shares. Susquehanna restated a "neutral" rating and set a $4.00 price objective (up from $3.25) on shares of Virgin Galactic in a research report on Thursday, October 9th. Wall Street Zen upgraded Virgin Galactic from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Virgin Galactic in a research note on Wednesday, October 8th. Finally, Wolfe Research reissued a "peer perform" rating on shares of Virgin Galactic in a report on Friday, November 14th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average 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.

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