Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE - Get Free Report) reached a new 52-week low on Tuesday . The stock traded as low as $1.38 and last traded at $1.45, with a volume of 5772843 shares changing hands. The stock had previously closed at $1.50.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on SPCE. Morgan Stanley lowered Virgin Galactic from an "equal weight" rating to an "underweight" rating and lowered their price objective for the company from $4.00 to $1.75 in a research note on Wednesday, November 22nd. Truist Financial lowered their price objective on Virgin Galactic from $3.00 to $2.00 and set a "hold" rating on the stock in a research note on Wednesday, February 28th.
Read Our Latest Analysis on SPCE
Virgin Galactic Stock Performance
The stock's 50-day moving average is $1.82 and its 200 day moving average is $1.95. The company has a debt-to-equity ratio of 0.83, a quick ratio of 5.03 and a current ratio of 5.12. The firm has a market cap of $558.06 million, a P/E ratio of -0.89 and a beta of 1.62.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. bought a new stake in shares of Virgin Galactic during the first quarter worth about $231,000. Raymond James & Associates increased its holdings in Virgin Galactic by 33.0% during the 1st quarter. Raymond James & Associates now owns 25,295 shares of the company's stock worth $250,000 after acquiring an additional 6,282 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Virgin Galactic by 12.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 86,729 shares of the company's stock valued at $857,000 after purchasing an additional 9,403 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Virgin Galactic by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 579,028 shares of the company's stock valued at $5,720,000 after purchasing an additional 11,972 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in Virgin Galactic by 11.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 79,645 shares of the company's stock valued at $787,000 after buying an additional 8,154 shares during the period. 28.46% of the stock is owned by institutional investors.
About Virgin Galactic
(
Get Free Report)
Virgin Galactic Holdings, Inc focuses on the development, manufacture, and operation of spaceships and related technologies for conducting commercial human spaceflight and flying commercial research and development payloads into space. It is also involved in the ground and flight testing, and post-flight maintenance of its spaceflight system vehicles.
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