Susquehanna Portfolio Strategies LLC Has $163,000 Stock Position in Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Susquehanna Portfolio Strategies LLC lessened its stake in shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) by 95.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 19,378 shares of the company’s stock after selling 368,207 shares during the quarter. Susquehanna Portfolio Strategies LLC’s holdings in Virgin Galactic were worth $163,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bayesian Capital Management LP purchased a new position in shares of Virgin Galactic during the first quarter valued at $35,000. Cantor Fitzgerald L. P. purchased a new position in Virgin Galactic during the 4th quarter valued at about $39,000. Newbridge Financial Services Group Inc. increased its holdings in shares of Virgin Galactic by 191.9% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,900 shares of the company’s stock valued at $71,000 after purchasing an additional 19,000 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Virgin Galactic in the 2nd quarter valued at about $98,000. Finally, XTX Topco Ltd purchased a new stake in shares of Virgin Galactic in the second quarter worth approximately $145,000. 46.62% of the stock is owned by hedge funds and other institutional investors.

Virgin Galactic Stock Performance

Shares of SPCE opened at $6.22 on Monday. 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 12 month low of $5.26 and a 12 month high of $54.60. The company’s fifty day moving average is $6.45 and its 200-day moving average is $13.68. The firm has a market cap of $127.93 million, a price-to-earnings ratio of -0.25 and a beta of 1.72.

Virgin Galactic (NYSE:SPCE) last posted its earnings results on Wednesday, August 7th. The company reported ($4.36) earnings per share for the quarter, beating the consensus estimate of ($5.40) by $1.04. The company 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 period last year, the company earned ($9.20) earnings per share. Equities analysts expect that Virgin Galactic Holdings, Inc. will post -18.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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