Bank of New York Mellon Corp Has $357,000 Stock Position in Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Bank of New York Mellon Corp boosted its holdings in shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) by 6.8% in the fourth quarter, Holdings Channel reports. The firm owned 60,688 shares of the company’s stock after purchasing an additional 3,888 shares during the quarter. Bank of New York Mellon Corp’s holdings in Virgin Galactic were worth $357,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Rhumbline Advisers raised its holdings in Virgin Galactic by 19.4% in the 4th quarter. Rhumbline Advisers now owns 33,205 shares of the company’s stock valued at $195,000 after acquiring an additional 5,384 shares during the period. Franklin Resources Inc. purchased a new stake in shares of Virgin Galactic in the third quarter worth $80,000. Virtu Financial LLC bought a new stake in shares of Virgin Galactic during the 3rd quarter valued at about $70,000. Geode Capital Management LLC lifted its position in Virgin Galactic by 21.0% during the third quarter. Geode Capital Management LLC now owns 508,088 shares of the company’s stock valued at $3,101,000 after purchasing an additional 88,102 shares during the last quarter. Finally, Zacks Investment Management grew its position in Virgin Galactic by 40.3% in the third quarter. Zacks Investment Management now owns 35,439 shares of the company’s stock worth $216,000 after acquiring an additional 10,172 shares in the last quarter. Institutional investors and hedge funds own 46.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SPCE shares. Susquehanna decreased their price objective on Virgin Galactic from $4.00 to $3.25 and set a “neutral” rating on the stock in a report on Thursday, March 13th. The Goldman Sachs Group decreased their price target 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 research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Virgin Galactic presently has an average rating of “Hold” and an average target price of $19.85.

Virgin Galactic Stock Performance

Shares of SPCE opened at $3.01 on Friday. Virgin Galactic Holdings, Inc. has a 52 week low of $2.85 and a 52 week high of $29.80. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 1.15. The stock has a market cap of $106.76 million, a P/E ratio of -0.17 and a beta of 2.16. The business’s 50 day moving average price is $4.12 and its 200-day moving average price is $5.67.

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.