Wealthquest Corp Acquires New Shares in Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Wealthquest Corp acquired a new position in Virgin Galactic Holdings, Inc. (NYSE:SPCE - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 442,323 shares of the company's stock, valued at approximately $1,340,000. Wealthquest Corp owned 1.24% of Virgin Galactic at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of Virgin Galactic during the 4th quarter valued at about $715,000. Corebridge Financial Inc. increased its holdings in 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 last quarter. Geode Capital Management LLC increased its holdings in Virgin Galactic by 19.1% during the 4th quarter. Geode Capital Management LLC now owns 605,362 shares of the company's stock worth $3,561,000 after purchasing an additional 97,274 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Virgin Galactic by 70.7% during the 4th quarter. Wells Fargo & Company MN now owns 16,227 shares of the company's stock worth $95,000 after purchasing an additional 6,722 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in Virgin Galactic by 1,246.5% during the 4th quarter. Federated Hermes Inc. now owns 833,664 shares of the company's stock worth $4,902,000 after purchasing an additional 771,749 shares during the last quarter. 46.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on SPCE shares. Jefferies Financial Group dropped their price objective on Virgin Galactic from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Friday, May 16th. The Goldman Sachs Group started coverage on Virgin Galactic in a report on Monday, June 30th. They set a "neutral" rating and a $3.00 price objective on the stock.

Virgin Galactic Stock Performance

Shares of SPCE traded up $0.11 during mid-day trading on Thursday, hitting $3.78. The stock had a trading volume of 2,145,885 shares, compared to its average volume of 4,334,507. The company has a market cap of $156.95 million, a PE ratio of -0.32 and a beta of 2.09. The company's fifty day simple moving average is $3.30 and its two-hundred day simple moving average is $3.55. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 1.55. Virgin Galactic Holdings, Inc. has a fifty-two week low of $2.18 and a fifty-two week high of $8.19.

Virgin Galactic (NYSE:SPCE - Get Free Report) last issued its earnings results on Thursday, May 15th. The company reported ($2.38) EPS for the quarter, missing the consensus estimate of ($2.23) by ($0.15). The firm had revenue of $0.46 million during the quarter, compared to analyst estimates of $0.33 million. Virgin Galactic had a negative return on equity of 97.17% and a negative net margin of 5,972.70%. On average, equities analysts expect that Virgin Galactic Holdings, Inc. will post -16.05 earnings per share for the current year.

Virgin Galactic 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.