Wealthquest Corp Makes New $1.34 Million Investment in Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Wealthquest Corp purchased a new stake in shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 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 hedge funds and other institutional investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC grew its holdings in Virgin Galactic by 97.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,943 shares of the company's stock worth $47,000 after purchasing an additional 3,916 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of Virgin Galactic in the first quarter worth approximately $32,000. Summit Securities Group LLC bought a new position in Virgin Galactic during the fourth quarter valued at approximately $71,000. Corebridge Financial Inc. lifted its position 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 purchasing an additional 2,942 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in Virgin Galactic during the fourth quarter valued at approximately $80,000. Hedge funds and other institutional investors own 46.62% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on SPCE shares. Jefferies Financial Group decreased their price target on shares of 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 reduced their price objective on shares of Virgin Galactic from $4.00 to $3.25 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Finally, The Goldman Sachs Group reduced their price objective on shares of Virgin Galactic from $41.00 to $36.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd.

Virgin Galactic Price Performance

Shares of NYSE SPCE traded up $0.05 during midday trading on Thursday, reaching $2.95. The stock had a trading volume of 1,500,376 shares, compared to its average volume of 2,623,042. The stock has a 50-day moving average of $3.18 and a 200-day moving average of $4.05. The company has a debt-to-equity ratio of 1.55, a quick ratio of 3.81 and a current ratio of 3.81. The company has a market capitalization of $122.45 million, a price-to-earnings ratio of -0.25 and a beta of 2.14. Virgin Galactic Holdings, Inc. has a 12-month low of $2.18 and a 12-month high of $9.14.

Virgin Galactic (NYSE:SPCE - Get Free Report) last posted 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). The company had revenue of $0.46 million for the quarter, compared to analysts' expectations of $0.33 million. Virgin Galactic had a negative net margin of 5,972.70% and a negative return on equity of 97.17%. As a group, research analysts anticipate that Virgin Galactic Holdings, Inc. will post -16.05 EPS for the current fiscal 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.