Point72 Asia Singapore Pte. Ltd. Makes New $98,000 Investment in Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Virgin Galactic Holdings, Inc. (NYSE:SPCE) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,596 shares of the company’s stock, valued at approximately $98,000. Point72 Asia Singapore Pte. Ltd. owned about 0.06% of Virgin Galactic as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. California State Teachers Retirement System lifted its stake in Virgin Galactic by 3.5% during the first quarter. California State Teachers Retirement System now owns 377,388 shares of the company’s stock worth $559,000 after purchasing an additional 12,803 shares in the last quarter. American International Group Inc. raised its stake in shares of Virgin Galactic by 7.9% in the first quarter. American International Group Inc. now owns 176,181 shares of the company’s stock valued at $261,000 after acquiring an additional 12,970 shares in the last quarter. Cantor Fitzgerald L. P. acquired a new stake in shares of Virgin Galactic in the fourth quarter valued at $39,000. XTX Topco Ltd acquired a new stake in shares of Virgin Galactic in the second quarter valued at $145,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Virgin Galactic by 2.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 819,273 shares of the company’s stock valued at $1,213,000 after buying an additional 18,305 shares during the last quarter. 46.62% of the stock is owned by institutional investors and hedge funds.

Virgin Galactic Stock Performance

NYSE SPCE opened at $6.09 on Friday. The company has a quick ratio of 4.71, a current ratio of 4.71 and a debt-to-equity ratio of 1.06. Virgin Galactic Holdings, Inc. has a 52-week low of $5.26 and a 52-week high of $54.60. The business’s 50-day moving average price is $6.36 and its 200 day moving average price is $13.03. The firm has a market cap of $125.16 million, a P/E ratio of -0.24 and a beta of 1.72.

Virgin Galactic (NYSE:SPCE) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($4.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($5.40) by $1.04. The firm had revenue of $4.22 million for the quarter, compared to analyst estimates of $3.50 million. Virgin Galactic had a negative return on equity of 83.64% and a negative net margin of 3,764.43%. During the same quarter last year, the company posted ($9.20) earnings per share. On average, equities research analysts expect that Virgin Galactic Holdings, Inc. will post -18.82 earnings per share for the current year.

Analyst Ratings Changes

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

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.