Virgin Galactic Holdings, Inc. (NYSE:SPCE) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its stake in shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE - Free Report) by 89.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,211 shares of the company's stock after selling 99,108 shares during the quarter. JPMorgan Chase & Co.'s holdings in Virgin Galactic were worth $72,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in Virgin Galactic during the 4th quarter worth $715,000. Geode Capital Management LLC increased its position in Virgin Galactic by 21.0% in the 3rd quarter. Geode Capital Management LLC now owns 508,088 shares of the company's stock valued at $3,101,000 after acquiring an additional 88,102 shares during the period. Charles Schwab Investment Management Inc. increased its position in Virgin Galactic by 18.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 221,882 shares of the company's stock valued at $1,305,000 after acquiring an additional 34,514 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Virgin Galactic during the 4th quarter valued at approximately $80,000. Finally, Virtu Financial LLC purchased a new position in shares of Virgin Galactic in the 3rd quarter valued at approximately $70,000. 46.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group decreased their price target on Virgin Galactic from $41.00 to $36.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Susquehanna cut their price target 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. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Virgin Galactic has an average rating of "Hold" and an average price target of $19.85.

Virgin Galactic Price Performance

Virgin Galactic stock traded down $0.06 during mid-day trading on Friday, reaching $3.08. The company had a trading volume of 1,008,952 shares, compared to its average volume of 1,863,278. The stock's 50-day simple moving average is $3.03 and its 200-day simple moving average is $4.86. Virgin Galactic Holdings, Inc. has a 1 year low of $2.18 and a 1 year high of $28.20. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.52 and a quick ratio of 4.52. The company has a market capitalization of $109.43 million, a P/E ratio of -0.18 and a beta of 2.10.

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.