Raymond James Financial Inc. Makes New Investment in Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Raymond James Financial Inc. purchased a new stake in shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 121,579 shares of the company's stock, valued at approximately $715,000. Raymond James Financial Inc. owned about 0.42% of Virgin Galactic at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SPCE. Geode Capital Management LLC increased its position in shares of Virgin Galactic by 21.0% during the third quarter. Geode Capital Management LLC now owns 508,088 shares of the company's stock worth $3,101,000 after acquiring an additional 88,102 shares during the period. Federated Hermes Inc. increased its position in shares of Virgin Galactic by 1,246.5% during the fourth quarter. Federated Hermes Inc. now owns 833,664 shares of the company's stock worth $4,902,000 after acquiring an additional 771,749 shares during the period. Bank of New York Mellon Corp increased its position in shares of Virgin Galactic by 6.8% during the fourth quarter. Bank of New York Mellon Corp now owns 60,688 shares of the company's stock worth $357,000 after acquiring an additional 3,888 shares during the period. Rhumbline Advisers increased its position in shares of Virgin Galactic by 19.4% during the fourth quarter. Rhumbline Advisers now owns 33,205 shares of the company's stock worth $195,000 after acquiring an additional 5,384 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Virgin Galactic during the fourth quarter worth $80,000. 46.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on SPCE. The Goldman Sachs Group lowered their price target on shares of Virgin Galactic from $41.00 to $36.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Susquehanna lowered 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.

Virgin Galactic Stock Up 5.7%

NYSE:SPCE traded up $0.18 during trading hours on Monday, hitting $3.25. The company's stock had a trading volume of 311,888 shares, compared to its average volume of 1,858,710. The stock has a market capitalization of $115.29 million, a P/E ratio of -0.19 and a beta of 2.10. The stock has a fifty day moving average of $3.03 and a 200-day moving average of $4.82. The company has a current ratio of 4.52, a quick ratio of 4.52 and a debt-to-equity ratio of 1.15. Virgin Galactic Holdings, Inc. has a 52-week low of $2.18 and a 52-week high of $28.20.

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.