Geode Capital Management LLC Purchases 88,102 Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Geode Capital Management LLC increased its position in shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE - Free Report) by 21.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 508,088 shares of the company's stock after buying an additional 88,102 shares during the quarter. Geode Capital Management LLC owned 1.78% of Virgin Galactic worth $3,101,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of Virgin Galactic in the third quarter valued at approximately $49,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Virgin Galactic in the 2nd quarter valued at $98,000. XTX Topco Ltd bought a new stake in Virgin Galactic during the 2nd quarter worth about $145,000. FMR LLC boosted its stake in shares of Virgin Galactic by 29.7% during the 3rd quarter. FMR LLC now owns 24,749 shares of the company's stock worth $151,000 after buying an additional 5,669 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of Virgin Galactic in the 2nd quarter valued at about $240,000. Institutional investors and hedge funds own 46.62% of the company's stock.

Virgin Galactic Stock Performance

NYSE SPCE traded down $0.17 during trading on Tuesday, reaching $6.26. 1,033,112 shares of the company's stock were exchanged, compared to its average volume of 1,504,639. Virgin Galactic Holdings, Inc. has a fifty-two week low of $5.26 and a fifty-two week high of $48.60. The stock has a market capitalization of $180.76 million, a P/E ratio of -0.36 and a beta of 1.72. The business has a 50 day moving average price of $6.61 and a 200-day moving average price of $6.76. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.52 and a quick ratio of 4.52.

Virgin Galactic (NYSE:SPCE - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($2.66) earnings per share for the quarter, beating analysts' consensus estimates of ($4.10) by $1.44. Virgin Galactic had a negative return on equity of 88.09% and a negative net margin of 3,975.27%. The business had revenue of $0.40 million for the quarter, compared to analysts' expectations of $0.47 million. During the same quarter in the prior year, the business earned ($5.60) EPS. Sell-side analysts forecast that Virgin Galactic Holdings, Inc. will post -16.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SPCE has been the subject of several recent research reports. Morgan Stanley reduced their price target on Virgin Galactic from $35.00 to $5.00 and set an "underweight" rating for the company in a research report on Tuesday, September 17th. The Goldman Sachs Group cut their price objective on Virgin Galactic from $53.00 to $47.00 and set a "neutral" rating for the company in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $25.50.

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.