Diana Strandberg Purchases 20,000 Shares of Virgin Galactic (NYSE:SPCE) Stock

Virgin Galactic Holdings, Inc. (NYSE:SPCE) Director Diana Strandberg acquired 20,000 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were purchased at an average cost of $2.49 per share, with a total value of $49,800.00. Following the completion of the transaction, the director owned 70,930 shares in the company, valued at approximately $176,615.70. The trade was a 39.27% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Virgin Galactic Price Performance

Virgin Galactic stock opened at $3.25 on Friday. The stock has a market cap of $264.18 million, a P/E ratio of -0.75 and a beta of 2.18. The company has a fifty day simple moving average of $2.67 and a 200-day simple moving average of $2.99. Virgin Galactic Holdings, Inc. has a 12-month low of $2.13 and a 12-month high of $5.23. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.91.

Virgin Galactic (NYSE:SPCE) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.86) by $0.05. Virgin Galactic had a negative net margin of 19,781.30% and a negative return on equity of 103.89%. The business had revenue of $0.23 million during the quarter, compared to analysts’ expectations of $0.20 million. Equities analysts expect that Virgin Galactic Holdings, Inc. will post -3.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in shares of Virgin Galactic by 61.9% during the third quarter. BNP Paribas Financial Markets now owns 13,608 shares of the company’s stock worth $53,000 after acquiring an additional 5,205 shares during the period. Bank of America Corp DE increased its stake in shares of Virgin Galactic by 34.1% during the third quarter. Bank of America Corp DE now owns 23,002 shares of the company’s stock worth $89,000 after acquiring an additional 5,844 shares during the period. American Century Companies Inc. increased its stake in shares of Virgin Galactic by 44.8% during the second quarter. American Century Companies Inc. now owns 19,845 shares of the company’s stock worth $54,000 after acquiring an additional 6,143 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Virgin Galactic by 76.6% during the second quarter. Russell Investments Group Ltd. now owns 16,773 shares of the company’s stock worth $46,000 after acquiring an additional 7,274 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of Virgin Galactic by 21.9% during the first quarter. Rhumbline Advisers now owns 40,487 shares of the company’s stock worth $123,000 after acquiring an additional 7,282 shares during the period. 46.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SPCE shares. Jefferies Financial Group reduced their price target on shares of Virgin Galactic from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Wall Street Zen raised shares of Virgin Galactic from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Virgin Galactic in a research report on Monday, April 20th. Finally, Susquehanna boosted their price target on shares of Virgin Galactic from $2.50 to $3.00 and gave the company a “neutral” rating in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $3.33.

Virgin Galactic Company Profile

Virgin Galactic Holdings, Inc (NYSE: SPCE) is a commercial spaceflight company developing and operating spacecraft for private individuals and research customers. The firm’s primary business is suborbital human spaceflight, offering passengers a brief trip to the edge of space aboard its reusable spaceplane. In parallel, the company is building out infrastructure and support services for suborbital payload deployments and microgravity research missions.

The core flight system consists of a carrier aircraft, WhiteKnightTwo, which lifts the spaceplane SpaceShipTwo to high altitude before release.