Vanguard Group Inc. Has $54.30 Million Stock Holdings in Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Vanguard Group Inc. boosted its holdings in Virgin Galactic Holdings, Inc. (NYSE:SPCE - Free Report) by 29.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,165,775 shares of the company's stock after purchasing an additional 6,823,646 shares during the quarter. Vanguard Group Inc. owned approximately 7.55% of Virgin Galactic worth $54,298,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in SPCE. Canada Pension Plan Investment Board increased its stake in Virgin Galactic by 177.5% during the first quarter. Canada Pension Plan Investment Board now owns 2,586 shares of the company's stock worth $25,000 after acquiring an additional 1,654 shares during the last quarter. Mackenzie Financial Corp increased its stake in Virgin Galactic by 18.5% during the fourth quarter. Mackenzie Financial Corp now owns 12,148 shares of the company's stock worth $42,000 after acquiring an additional 1,900 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Virgin Galactic by 7.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,368 shares of the company's stock worth $195,000 after acquiring an additional 2,271 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Virgin Galactic by 2.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 132,628 shares of the company's stock worth $538,000 after acquiring an additional 2,946 shares during the last quarter. Finally, Amalgamated Bank increased its stake in Virgin Galactic by 9.4% during the fourth quarter. Amalgamated Bank now owns 35,657 shares of the company's stock worth $124,000 after acquiring an additional 3,069 shares during the last quarter. 46.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SPCE. Truist Financial decreased their target price on Virgin Galactic from $3.00 to $2.00 and set a "hold" rating for the company in a research report on Wednesday, February 28th. Wells Fargo & Company decreased their target price on Virgin Galactic from $1.75 to $1.00 and set an "underweight" rating for the company in a research report on Thursday, April 4th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $2.30.

Virgin Galactic Stock Down 0.8 %

NYSE SPCE traded down $0.01 during mid-day trading on Tuesday, reaching $1.17. 10,069,391 shares of the company's stock traded hands, compared to its average volume of 9,089,571. Virgin Galactic Holdings, Inc. has a 1-year low of $1.14 and a 1-year high of $6.17. The company has a fifty day simple moving average of $1.63 and a 200-day simple moving average of $1.87. The company has a current ratio of 5.12, a quick ratio of 5.03 and a debt-to-equity ratio of 0.83. The company has a market cap of $468.05 million, a price-to-earnings ratio of -0.75 and a beta of 1.60.

Virgin Galactic (NYSE:SPCE - Get Free Report) last issued its earnings results on Tuesday, February 27th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.05. The company had revenue of $2.81 million during the quarter, compared to analyst estimates of $2.99 million. Virgin Galactic had a negative return on equity of 102.01% and a negative net margin of 7,387.31%. As a group, equities research analysts expect that Virgin Galactic Holdings, Inc. will post -0.96 EPS for the current year.

About Virgin Galactic

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.