PharVision Advisers LLC Purchases Shares of 36,636 Virgin Galactic Holdings, Inc. (NYSE:SPCE)

PharVision Advisers LLC purchased a new stake in Virgin Galactic Holdings, Inc. (NYSE:SPCE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 36,636 shares of the company’s stock, valued at approximately $215,000. PharVision Advisers LLC owned 0.13% of Virgin Galactic at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Steward Partners Investment Advisory LLC increased its stake in shares of Virgin Galactic by 97.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,943 shares of the company’s stock valued at $47,000 after acquiring an additional 3,916 shares during the period. Summit Securities Group LLC acquired a new position in Virgin Galactic in the fourth quarter worth approximately $71,000. Corebridge Financial Inc. grew its position in Virgin Galactic by 28.8% in the fourth quarter. Corebridge Financial Inc. now owns 13,172 shares of the company’s stock worth $77,000 after buying an additional 2,942 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Virgin Galactic in the fourth quarter worth approximately $80,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Virgin Galactic by 41.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,846 shares of the company’s stock worth $87,000 after buying an additional 4,381 shares during the last quarter. Institutional investors and hedge funds own 46.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SPCE. 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 report on Monday, March 3rd. Susquehanna decreased their price objective on shares of Virgin Galactic from $4.00 to $3.25 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Finally, Jefferies Financial Group decreased their price objective on shares of Virgin Galactic from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, May 16th.

Virgin Galactic Trading Down 1.3%

Virgin Galactic stock opened at $3.67 on Friday. The company has a 50 day moving average price of $3.12 and a 200 day moving average price of $4.66. Virgin Galactic Holdings, Inc. has a 52 week low of $2.18 and a 52 week high of $23.00. The company has a debt-to-equity ratio of 1.15, a quick ratio of 4.52 and a current ratio of 4.52. The firm has a market capitalization of $130.39 million, a price-to-earnings ratio of -0.21 and a beta of 2.10.

Virgin Galactic (NYSE:SPCE) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($2.38) EPS for the quarter, missing analysts’ consensus estimates of ($2.23) by ($0.15). The firm had revenue of $0.46 million during the quarter, compared to analyst estimates of $0.33 million. Virgin Galactic had a negative return on equity of 88.09% and a negative net margin of 3,975.27%. Research analysts forecast that Virgin Galactic Holdings, Inc. will post -16.05 EPS for the current year.

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.