Point72 DIFC Ltd Takes $240,000 Position in Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Point72 DIFC Ltd bought a new position in Virgin Galactic Holdings, Inc. (NYSE:SPCE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 28,492 shares of the company’s stock, valued at approximately $240,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SPCE. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Virgin Galactic in the fourth quarter valued at about $30,000. Charles Schwab Investment Management Inc. grew its stake in shares of Virgin Galactic by 14.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,707,073 shares of the company’s stock worth $6,632,000 after purchasing an additional 349,300 shares during the last quarter. Bayesian Capital Management LP purchased a new position in Virgin Galactic during the 1st quarter valued at about $35,000. American International Group Inc. raised its position in Virgin Galactic by 7.9% during the 1st quarter. American International Group Inc. now owns 176,181 shares of the company’s stock valued at $261,000 after purchasing an additional 12,970 shares during the last quarter. Finally, Caxton Associates LP lifted its holdings in Virgin Galactic by 52.9% in the 1st quarter. Caxton Associates LP now owns 562,404 shares of the company’s stock worth $832,000 after buying an additional 194,675 shares during the period. 46.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Morgan Stanley reduced their target price on Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating on the stock in a research note on Tuesday, September 17th. Susquehanna reduced their price objective on shares of Virgin Galactic from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group decreased their price objective on shares of Virgin Galactic from $61.00 to $53.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Virgin Galactic presently has a consensus rating of “Hold” and a consensus price target of $26.50.

Virgin Galactic Price Performance

SPCE opened at $6.04 on Friday. The company has a current ratio of 4.71, a quick ratio of 4.71 and a debt-to-equity ratio of 1.06. The company has a market cap of $172.02 million, a price-to-earnings ratio of -0.24 and a beta of 1.72. The stock has a fifty day simple moving average of $6.47 and a two-hundred day simple moving average of $14.21. Virgin Galactic Holdings, Inc. has a 12-month low of $5.26 and a 12-month high of $54.60.

Virgin Galactic (NYSE:SPCE) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($4.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($5.40) by $1.04. Virgin Galactic had a negative net margin of 3,764.43% and a negative return on equity of 83.64%. The company had revenue of $4.22 million during the quarter, compared to analyst estimates of $3.50 million. During the same period last year, the business earned ($9.20) EPS. Research analysts predict that Virgin Galactic Holdings, Inc. will post -18.82 earnings per share for the current fiscal year.

Virgin Galactic Company 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.