Barclays PLC Trims Stock Holdings in Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Barclays PLC lessened its stake in shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) by 40.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 26,994 shares of the company’s stock after selling 17,982 shares during the quarter. Barclays PLC’s holdings in Virgin Galactic were worth $165,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SPCE. FMR LLC boosted its holdings in Virgin Galactic by 29.7% during the 3rd quarter. FMR LLC now owns 24,749 shares of the company’s stock valued at $151,000 after acquiring an additional 5,669 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Virgin Galactic during the second quarter worth about $492,000. XTX Topco Ltd purchased a new position in shares of Virgin Galactic in the second quarter valued at approximately $145,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Virgin Galactic in the second quarter valued at approximately $98,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Virgin Galactic by 29.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 187,368 shares of the company’s stock valued at $1,143,000 after purchasing an additional 42,883 shares in the last quarter. 46.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SPCE. Morgan Stanley reduced their target price on shares of Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating on the stock in a report on Tuesday, September 17th. The Goldman Sachs Group reduced their price objective on Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $25.50.

Virgin Galactic Stock Down 2.6 %

Shares of Virgin Galactic stock opened at $6.26 on Wednesday. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 1.15. Virgin Galactic Holdings, Inc. has a 52-week low of $5.26 and a 52-week high of $48.60. The company has a market capitalization of $180.76 million, a P/E ratio of -0.36 and a beta of 1.72. The company has a 50 day moving average of $6.59 and a 200 day moving average of $6.73.

Virgin Galactic (NYSE:SPCE) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($2.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.10) by $1.44. The business had revenue of $0.40 million during the quarter, compared to analysts’ expectations of $0.47 million. Virgin Galactic had a negative net margin of 3,975.27% and a negative return on equity of 88.09%. During the same period in the previous year, the company earned ($5.60) EPS. As a group, research analysts forecast that Virgin Galactic Holdings, Inc. will post -16.05 EPS for the current fiscal 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.