Raymond James Financial Inc. Invests $715,000 in Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Raymond James Financial Inc. acquired a new stake in shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 121,579 shares of the company's stock, valued at approximately $715,000. Raymond James Financial Inc. owned about 0.42% of Virgin Galactic as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Aristides Capital LLC bought a new position in shares of Virgin Galactic in the fourth quarter valued at approximately $106,000. Federated Hermes Inc. boosted its stake in shares of Virgin Galactic by 1,246.5% in the 4th quarter. Federated Hermes Inc. now owns 833,664 shares of the company's stock valued at $4,902,000 after purchasing an additional 771,749 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Virgin Galactic by 70.7% during the fourth quarter. Wells Fargo & Company MN now owns 16,227 shares of the company's stock valued at $95,000 after buying an additional 6,722 shares during the last quarter. Geode Capital Management LLC increased its stake in Virgin Galactic by 19.1% in the 4th quarter. Geode Capital Management LLC now owns 605,362 shares of the company's stock worth $3,561,000 after purchasing an additional 97,274 shares during the period. Finally, Summit Securities Group LLC purchased a new stake in shares of Virgin Galactic during the fourth quarter valued at approximately $71,000. 46.62% of the stock is currently owned by hedge funds and other institutional investors.

Virgin Galactic Stock Performance

Shares of NYSE SPCE traded down $0.06 during midday trading on Friday, hitting $3.08. 1,008,952 shares of the stock traded hands, compared to its average volume of 1,863,278. The company has a debt-to-equity ratio of 1.15, a quick ratio of 4.52 and a current ratio of 4.52. Virgin Galactic Holdings, Inc. has a one year low of $2.18 and a one year high of $28.20. The firm has a market capitalization of $109.43 million, a P/E ratio of -0.18 and a beta of 2.10. The firm has a 50-day moving average of $3.03 and a two-hundred day moving average of $4.86.

Analyst Ratings Changes

A number of research firms have recently weighed in on SPCE. Susquehanna dropped their target price 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. The Goldman Sachs Group cut their target price on shares of Virgin Galactic from $41.00 to $36.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, Virgin Galactic currently has a consensus rating of "Hold" and a consensus price target of $19.85.

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.