Wealthquest Corp Makes New Investment in Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Wealthquest Corp acquired a new stake in shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 442,323 shares of the company's stock, valued at approximately $1,340,000. Wealthquest Corp owned about 1.24% of Virgin Galactic at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Apollon Wealth Management LLC purchased a new stake in shares of Virgin Galactic during the 1st quarter worth about $31,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Virgin Galactic during the 1st quarter worth about $32,000. Cerity Partners LLC purchased a new stake in shares of Virgin Galactic during the 1st quarter worth about $32,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Virgin Galactic during the 1st quarter worth about $33,000. Finally, Corebridge Financial Inc. grew its holdings in shares of Virgin Galactic by 28.8% during the 4th quarter. Corebridge Financial Inc. now owns 13,172 shares of the company's stock worth $77,000 after purchasing an additional 2,942 shares during the period. Institutional investors and hedge funds own 46.62% of the company's stock.

Analyst Upgrades and Downgrades

SPCE has been the subject of a number of analyst reports. Jefferies Financial Group decreased their price target on 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 note on Monday, June 30th. They set a "neutral" rating and a $3.00 target price for the company.

Virgin Galactic Stock Performance

SPCE traded down $0.10 during trading hours on Friday, hitting $3.70. 2,475,135 shares of the stock were exchanged, compared to its average volume of 4,387,127. The stock has a 50-day simple moving average of $3.30 and a 200-day simple moving average of $3.52. Virgin Galactic Holdings, Inc. has a 12 month low of $2.18 and a 12 month high of $8.19. The stock has a market cap of $153.85 million, a price-to-earnings ratio of -0.31 and a beta of 2.01. The company has a debt-to-equity ratio of 1.55, a current ratio of 3.81 and a quick ratio of 3.81.

Virgin Galactic (NYSE:SPCE - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported ($2.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.23) by ($0.15). Virgin Galactic had a negative return on equity of 97.17% and a negative net margin of 5,972.70%. The firm had revenue of $0.46 million for the quarter, compared to the consensus estimate of $0.33 million. 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.