According to Zacks, “Virgin Galactic Holdings Inc. is a vertically-integrated aerospace company pioneering human spaceflight for private individuals and researchers. Virgin Galactic Holdings Inc., formerly known as Social Capital Hedosophia, is based in NEW YORK. “
Several other equities research analysts have also recently commented on SPCE. Credit Suisse Group cut their price objective 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. Morgan Stanley raised shares of Virgin Galactic from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $30.00 to $24.00 in a research report on Tuesday, March 24th.
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 firm had revenue of $0.24 million for the quarter, compared to the consensus estimate of $0.65 million. The company’s revenue was down 86.5% compared to the same quarter last year.
In other Virgin Galactic news, Director Craig S. Kreeger purchased 10,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were purchased at an average cost of $19.48 per share, for a total transaction of $194,800.00. Following the purchase, the director now owns 35,445 shares of the company’s stock, valued at $690,468.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder 10 Ltd Vieco sold 20,650,000 shares of Virgin Galactic stock in a transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders purchased 12,357 shares of company stock worth $239,261 and sold 34,280,000 shares worth $516,012,500.
A number of hedge funds have recently modified their holdings of the business. Samlyn Capital LLC acquired a new position in shares of Virgin Galactic during the 4th quarter worth about $48,360,000. Elephas Investment Management Ltd acquired a new position in shares of Virgin Galactic during the 1st quarter worth about $12,625,000. Strategic Wealth Advisors Group LLC acquired a new position in shares of Virgin Galactic during the 1st quarter worth about $4,323,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Virgin Galactic during the 4th quarter worth about $3,743,000. Finally, Scopus Asset Management L.P. acquired a new position in shares of Virgin Galactic during the 4th quarter worth about $3,430,000.
About Virgin Galactic
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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