Virgin Galactic Holdings, Inc. $SPCE Shares Bought by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Virgin Galactic by 510.9% in Q1, purchasing 90,021 shares, and now holds a total of 107,641 shares worth approximately $326,000.
• Virgin Galactic reported an earnings per share (EPS) of ($1.47), exceeding analysts' expectations of ($2.12), while also noting a negative return on equity of 98.94%.
• Analysts currently rate Virgin Galactic with an average of "Hold" and have set a consensus price target of $4.81 per share.

Invesco Ltd. boosted its stake in Virgin Galactic Holdings, Inc. (NYSE:SPCE - Free Report) by 510.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,641 shares of the company's stock after acquiring an additional 90,021 shares during the period. Invesco Ltd. owned 0.30% of Virgin Galactic worth $326,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Federated Hermes Inc. boosted its position in shares of 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 acquiring an additional 1,122,535 shares during the last quarter. Millennium Management LLC increased its position in 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 buying an additional 362,421 shares in the last quarter. Wealthquest Corp bought a new stake in Virgin Galactic in the first quarter worth $1,340,000. Charles Schwab Investment Management Inc. boosted its holdings in Virgin Galactic by 8.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 240,831 shares of the company's stock worth $730,000 after acquiring an additional 18,949 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Virgin Galactic by 39.6% in the 4th 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 in the last quarter. 46.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SPCE. The Goldman Sachs Group started coverage on Virgin Galactic in a research note on Monday, June 30th. They set a "neutral" rating and a $3.00 price target for the company. Jefferies Financial Group lowered their price objective on Virgin Galactic from $9.00 to $8.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Finally, Wall Street Zen upgraded Virgin Galactic from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. 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 stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $4.81.

Virgin Galactic Stock Down 0.5%

NYSE SPCE traded down $0.02 during trading on Wednesday, reaching $3.16. 975,386 shares of the company's stock were exchanged, compared to its average volume of 3,471,254. The stock has a market cap of $181.70 million, a P/E ratio of -0.35 and a beta of 2.13. 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 company has a 50 day moving average price of $3.33 and a two-hundred day moving average price of $3.24. Virgin Galactic Holdings, Inc. has a 1 year low of $2.18 and a 1 year high of $8.19.

Virgin Galactic (NYSE:SPCE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($1.47) EPS for the quarter, beating analysts' consensus estimates of ($2.12) by $0.65. The firm had revenue of $0.41 million during the quarter, compared to the consensus estimate of $0.45 million. Virgin Galactic had a negative net margin of 17,828.03% and a negative return on equity of 98.94%. On average, equities research analysts anticipate that Virgin Galactic Holdings, Inc. will post -16.05 EPS for the current fiscal 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.