Virgin Galactic Holdings, Inc. (NYSE:SPCE) Short Interest Up 20.4% in April

Virgin Galactic Holdings, Inc. (NYSE:SPCE - Get Free Report) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 10,440,000 shares, an increase of 20.4% from the March 31st total of 8,670,000 shares. Approximately 27.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,900,000 shares, the days-to-cover ratio is currently 5.5 days.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SPCE. Susquehanna reduced their price target on shares of Virgin Galactic from $4.00 to $3.25 and set a "neutral" rating for the company in a research report on Thursday, March 13th. The Goldman Sachs Group reduced their price target on shares of Virgin Galactic from $41.00 to $36.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $19.85.

Virgin Galactic Stock Up 10.0 %

NYSE SPCE traded up $0.29 during trading on Thursday, reaching $3.14. The company's stock had a trading volume of 1,992,753 shares, compared to its average volume of 1,861,618. The business has a 50-day moving average price of $3.03 and a 200-day moving average price of $4.88. Virgin Galactic has a 1-year low of $2.18 and a 1-year high of $28.20. The stock has a market capitalization of $111.38 million, a PE ratio of -0.18 and a beta of 2.10. The company has a current ratio of 4.52, a quick ratio of 4.52 and a debt-to-equity ratio of 1.15.

Hedge Funds Weigh In On Virgin Galactic

Institutional investors have recently bought and sold shares of the stock. Apollon Wealth Management LLC bought a new position in shares of Virgin Galactic in the 1st quarter valued at approximately $31,000. Wealth Enhancement Advisory Services LLC acquired a new position in Virgin Galactic in the 1st quarter valued at $32,000. Cerity Partners LLC acquired a new position in Virgin Galactic during the 1st quarter worth $32,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Virgin Galactic during the 1st quarter worth about $33,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in Virgin Galactic by 97.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,943 shares of the company's stock valued at $47,000 after buying an additional 3,916 shares during the last quarter. 46.62% of the stock is currently owned by institutional investors.

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.