Cubist Systematic Strategies LLC Invests $492,000 in Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Cubist Systematic Strategies LLC bought a new position in shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 58,361 shares of the company’s stock, valued at approximately $492,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SPCE. California State Teachers Retirement System increased its position in shares of Virgin Galactic by 3.5% in the 1st quarter. California State Teachers Retirement System now owns 377,388 shares of the company’s stock valued at $559,000 after purchasing an additional 12,803 shares during the last quarter. American International Group Inc. raised its stake in 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 buying an additional 12,970 shares in the last quarter. Cantor Fitzgerald L. P. purchased a new stake in Virgin Galactic during the 4th quarter worth about $39,000. XTX Topco Ltd acquired a new position in shares of Virgin Galactic during the 2nd quarter worth about $145,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Virgin Galactic by 2.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 819,273 shares of the company’s stock valued at $1,213,000 after acquiring an additional 18,305 shares during the last quarter. 46.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SPCE shares. Susquehanna lowered their price target on Virgin Galactic from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group dropped their target price 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. Finally, Morgan Stanley reduced their price target on shares of Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating for the company in a research report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $26.50.

Virgin Galactic Stock Performance

Shares of Virgin Galactic stock opened at $6.09 on Friday. The stock has a market capitalization of $125.16 million, a price-to-earnings ratio of -0.24 and a beta of 1.72. The firm’s fifty day simple moving average is $6.36 and its 200-day simple moving average is $13.03. The company has a debt-to-equity ratio of 1.06, a current ratio of 4.71 and a quick ratio of 4.71. 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 announced its earnings results on Wednesday, August 7th. The company reported ($4.36) earnings per share for the quarter, topping the consensus estimate of ($5.40) by $1.04. The business had revenue of $4.22 million during the quarter, compared to the consensus estimate of $3.50 million. Virgin Galactic had a negative net margin of 3,764.43% and a negative return on equity of 83.64%. During the same quarter in the prior year, the firm earned ($9.20) earnings per share. As a group, equities analysts forecast that Virgin Galactic Holdings, Inc. will post -18.82 earnings per share for the current year.

Virgin Galactic 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.