Virgin Galactic Holdings (NASDAQ:SPCE) shares traded up 6% during mid-day trading on Tuesday . The stock traded as high as $16.40 and last traded at $16.34, 13,743,067 shares traded hands during mid-day trading. A decline of 23% from the average session volume of 17,780,920 shares. The stock had previously closed at $15.42.
Several equities research analysts recently issued reports on the stock. Credit Suisse Group decreased their target price on shares of Virgin Galactic from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 10th. Zacks Investment Research cut shares of Virgin Galactic from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Morgan Stanley raised shares of Virgin Galactic from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $30.00 to $24.00 in a research report on Tuesday, March 24th.
The business’s 50-day simple moving average is $16.04 and its two-hundred day simple moving average is $16.87.
Virgin Galactic (NASDAQ:SPCE) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.15). The business had revenue of $0.24 million for the quarter, compared to analysts’ expectations of $0.65 million. The business’s revenue was down 86.5% compared to the same quarter last year.
In other news, major shareholder 10 Ltd Vieco sold 20,650,000 shares of Virgin Galactic stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $15.00, for a total transaction of $309,750,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Craig S. Kreeger purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price of $19.48 per share, with a total value of $194,800.00. Following the purchase, the director now owns 35,445 shares of the company’s stock, valued at approximately $690,468.60. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 12,357 shares of company stock worth $239,261 and have sold 34,280,000 shares worth $516,012,500.
Several large investors have recently modified their holdings of SPCE. Sunbelt Securities Inc. bought a new stake in Virgin Galactic during the fourth quarter valued at $1,392,000. Rockefeller Capital Management L.P. increased its stake in Virgin Galactic by 20.1% during the first quarter. Rockefeller Capital Management L.P. now owns 4,633 shares of the company’s stock valued at $68,000 after purchasing an additional 776 shares during the last quarter. Flagship Harbor Advisors LLC increased its stake in Virgin Galactic by 35.0% during the first quarter. Flagship Harbor Advisors LLC now owns 3,511 shares of the company’s stock valued at $52,000 after purchasing an additional 911 shares during the last quarter. Pearl River Capital LLC bought a new stake in Virgin Galactic during the first quarter valued at $27,000. Finally, Truvestments Capital LLC bought a new stake in Virgin Galactic during the first quarter valued at $28,000.
Virgin Galactic Company Profile (NASDAQ:SPCE)
Virgin Galactic, LLC provides spaceline services. The company offers suborbital research flights to scientific research community. It also operates a spaceport for astronaut training and flights operations.Virgin Galactic, LLC was founded in 2004 and is based in Mojave, California with additional offices in Las Cruces, New York, London, Pasadena, and Washington, DC Virgin Galactic, LLC operates as a subsidiary of Virgin Group Ltd.
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