Wealthquest Corp Buys Shares of 442,323 Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Wealthquest Corp purchased a new stake in Virgin Galactic Holdings, Inc. (NYSE:SPCE - Free Report) in the 1st quarter, according to its most recent disclosure 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 approximately 1.24% of Virgin Galactic at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC bought a new stake in Virgin Galactic in the first quarter valued at $32,000. Rhumbline Advisers grew its holdings in shares of Virgin Galactic by 21.9% during the first quarter. Rhumbline Advisers now owns 40,487 shares of the company's stock valued at $123,000 after buying an additional 7,282 shares during the last quarter. PharVision Advisers LLC acquired a new position in shares of Virgin Galactic during the fourth quarter valued at about $215,000. Sherbrooke Park Advisers LLC acquired a new position in shares of Virgin Galactic during the fourth quarter valued at about $90,000. Finally, Millennium Management LLC grew its holdings in shares of Virgin Galactic by 62.0% during the fourth quarter. Millennium Management LLC now owns 946,956 shares of the company's stock valued at $5,568,000 after buying an additional 362,421 shares during the last quarter. 46.62% of the stock is owned by institutional investors.

Virgin Galactic Stock Down 2.2%

Virgin Galactic stock traded down $0.07 during midday trading on Friday, hitting $2.90. 5,636,299 shares of the stock were exchanged, compared to its average volume of 2,640,134. Virgin Galactic Holdings, Inc. has a 52-week low of $2.18 and a 52-week high of $8.79. The stock has a market capitalization of $120.37 million, a price-to-earnings ratio of -0.24 and a beta of 2.14. The business's 50-day moving average price is $3.19 and its 200-day moving average price is $4.00. 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 (NYSE:SPCE - Get Free Report) last released its quarterly 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 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 analysts' expectations of $0.33 million. On average, research analysts expect that Virgin Galactic Holdings, Inc. will post -16.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SPCE shares. 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 report on Thursday, March 13th. Jefferies Financial Group cut their price target on shares of Virgin Galactic from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Finally, The Goldman Sachs Group cut their price target on shares of Virgin Galactic from $41.00 to $36.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd.

Virgin Galactic Company 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.