58,361 Shares in Virgin Galactic Holdings, Inc. (NYSE:SPCE) Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC acquired a new position in shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 58,361 shares of the company’s stock, valued at approximately $492,000. Cubist Systematic Strategies LLC owned approximately 0.28% 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 SPCE. Vanguard Group Inc. lifted its stake in shares of Virgin Galactic by 0.5% in the first quarter. Vanguard Group Inc. now owns 34,633,452 shares of the company’s stock worth $51,258,000 after buying an additional 158,954 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Virgin Galactic by 2.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 819,273 shares of the company’s stock worth $1,213,000 after purchasing an additional 18,305 shares during the last quarter. Swiss National Bank grew its position in shares of Virgin Galactic by 9.1% in the first quarter. Swiss National Bank now owns 749,800 shares of the company’s stock valued at $1,110,000 after purchasing an additional 62,400 shares in the last quarter. Caxton Associates LP increased its holdings in shares of Virgin Galactic by 52.9% in the first quarter. Caxton Associates LP now owns 562,404 shares of the company’s stock valued at $832,000 after purchasing an additional 194,675 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in Virgin Galactic by 3.5% during the first quarter. California State Teachers Retirement System now owns 377,388 shares of the company’s stock worth $559,000 after buying an additional 12,803 shares in the last quarter. Institutional investors and hedge funds own 46.62% of the company’s stock.

Virgin Galactic Trading Up 4.4 %

NYSE SPCE opened at $6.09 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 4.71 and a quick ratio of 4.71. The stock has a market capitalization of $125.16 million, a P/E ratio of -0.24 and a beta of 1.72. The firm’s 50-day moving average is $6.36 and its two-hundred day moving average is $13.03. 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 issued its quarterly earnings data on Wednesday, August 7th. The company reported ($4.36) EPS for the quarter, topping the consensus estimate of ($5.40) by $1.04. The firm had revenue of $4.22 million for the quarter, compared to analyst estimates 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 period in the prior year, the business posted ($9.20) EPS. On average, sell-side analysts anticipate that Virgin Galactic Holdings, Inc. will post -18.82 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on SPCE shares. Morgan Stanley dropped their target price on Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating for the company in a report on Tuesday, September 17th. The Goldman Sachs Group reduced 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 note on Friday, August 9th. Finally, Susquehanna dropped their price target on shares of Virgin Galactic from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $26.50.

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.