Federated Hermes Inc. Has $5.93 Million Stock Holdings in Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Key Points

• Federated Hermes Inc. significantly increased its stake in Virgin Galactic, raising ownership by 134.7% to approximately 1.96 million shares valued at $5.93 million.
• Virgin Galactic reported a quarterly loss of ($2.38) EPS, missing expectations, with revenues of $0.46 million surpassing analyst estimates.
• The company's stock has seen recent analyst activity, with Goldman Sachs rating it as "neutral" and Jefferies Financial Group lowering their price target from $9.00 to $8.00 while maintaining a "buy" rating.

Federated Hermes Inc. boosted its holdings in Virgin Galactic Holdings, Inc. (NYSE:SPCE - Free Report) by 134.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,956,199 shares of the company's stock after buying an additional 1,122,535 shares during the period. Federated Hermes Inc. owned approximately 5.51% of Virgin Galactic worth $5,927,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Wealthquest Corp bought a new stake in Virgin Galactic during the 1st quarter worth approximately $1,340,000. Millennium Management LLC boosted its position in shares of Virgin Galactic by 62.0% in the fourth quarter. Millennium Management LLC now owns 946,956 shares of the company's stock valued at $5,568,000 after acquiring an additional 362,421 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Virgin Galactic during the fourth quarter worth approximately $715,000. Geode Capital Management LLC boosted its holdings in Virgin Galactic by 19.1% in the fourth quarter. Geode Capital Management LLC now owns 605,362 shares of the company's stock valued at $3,561,000 after acquiring an additional 97,274 shares in the last quarter. Finally, MYDA Advisors LLC purchased a new position in Virgin Galactic in the fourth quarter worth about $432,000. Institutional investors own 46.62% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on SPCE shares. Jefferies Financial Group reduced their target price on shares of Virgin Galactic from $9.00 to $8.00 and set a "buy" rating for the company in a report on Friday, May 16th. The Goldman Sachs Group started coverage on Virgin Galactic in a research report on Monday, June 30th. They set a "neutral" rating and a $3.00 target price on the stock.

Virgin Galactic Stock Down 7.0%

Shares of Virgin Galactic stock traded down $0.27 on Thursday, hitting $3.52. 5,268,253 shares of the company's stock traded hands, compared to its average volume of 3,642,184. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 1.55. The stock has a market cap of $146.14 million, a P/E ratio of -0.29 and a beta of 2.01. Virgin Galactic Holdings, Inc. has a 52-week low of $2.18 and a 52-week high of $8.19. The firm's 50-day moving average is $3.32 and its 200 day moving average is $3.50.

Virgin Galactic (NYSE:SPCE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($1.47) earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 97.17% and a negative net margin of 5,972.70%. Equities analysts anticipate that Virgin Galactic Holdings, Inc. will post -16.05 earnings per share for the current 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.