Nuveen Asset Management LLC Trims Stake in Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Nuveen Asset Management LLC lessened its holdings in shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE - Free Report) by 75.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 67,290 shares of the company's stock after selling 212,090 shares during the quarter. Nuveen Asset Management LLC owned about 0.23% of Virgin Galactic worth $396,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPCE. Steward Partners Investment Advisory LLC grew its holdings in Virgin Galactic by 97.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,943 shares of the company's stock valued at $47,000 after buying an additional 3,916 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Virgin Galactic during the fourth quarter worth $71,000. Corebridge Financial Inc. grew its stake in Virgin Galactic by 28.8% during the fourth quarter. Corebridge Financial Inc. now owns 13,172 shares of the company's stock valued at $77,000 after acquiring an additional 2,942 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Virgin Galactic in the 4th quarter valued at $80,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Virgin Galactic by 41.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,846 shares of the company's stock worth $87,000 after purchasing an additional 4,381 shares in the last quarter. Institutional investors own 46.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SPCE shares. Jefferies Financial Group decreased their target price on Virgin Galactic from $9.00 to $8.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Susquehanna lowered their target price on Virgin Galactic from $4.00 to $3.25 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Finally, The Goldman Sachs Group reduced their price target on shares of Virgin Galactic from $41.00 to $36.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd.

Virgin Galactic Trading Up 9.0%

NYSE SPCE traded up $0.29 during trading hours on Monday, hitting $3.51. 10,298,910 shares of the company were exchanged, compared to its average volume of 2,650,339. Virgin Galactic Holdings, Inc. has a 52 week low of $2.18 and a 52 week high of $18.60. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 1.15. The stock has a 50-day moving average price of $3.06 and a 200 day moving average price of $4.36. The stock has a market cap of $145.93 million, a PE ratio of -0.20 and a beta of 2.14.

Virgin Galactic (NYSE:SPCE - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported ($2.38) earnings per share for the quarter, missing the consensus estimate of ($2.23) by ($0.15). Virgin Galactic had a negative net margin of 3,975.27% and a negative return on equity of 88.09%. The company had revenue of $0.46 million for the quarter, compared to the consensus estimate of $0.33 million. Analysts forecast that Virgin Galactic Holdings, Inc. will post -16.05 earnings per share for the current fiscal year.

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.