Diana Strandberg Purchases 20,000 Shares of Virgin Galactic (NYSE:SPCE) Stock

Virgin Galactic Holdings, Inc. (NYSE:SPCE) Director Diana Strandberg acquired 20,000 shares of Virgin Galactic stock in a transaction dated Tuesday, May 19th. The shares were bought at an average price of $2.49 per share, with a total value of $49,800.00. Following the transaction, the director directly owned 70,930 shares in the company, valued at approximately $176,615.70. The trade was a 39.27% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Virgin Galactic Stock Up 10.7%

Shares of NYSE:SPCE traded up $0.27 during trading on Thursday, hitting $2.74. 13,223,470 shares of the company were exchanged, compared to its average volume of 5,874,324. The stock has a market capitalization of $222.66 million, a P/E ratio of -0.63 and a beta of 2.18. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 1.00. Virgin Galactic Holdings, Inc. has a 12-month low of $2.13 and a 12-month high of $5.23. The firm’s 50 day moving average price is $2.65 and its 200-day moving average price is $2.99.

Virgin Galactic (NYSE:SPCE) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.81) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.05. The business had revenue of $0.23 million during the quarter, compared to the consensus estimate of $0.20 million. Virgin Galactic had a negative net margin of 19,781.30% and a negative return on equity of 103.89%. On average, research analysts predict that Virgin Galactic Holdings, Inc. will post -3.56 earnings per share for the current fiscal year.

Institutional Trading of Virgin Galactic

Institutional investors and hedge funds have recently bought and sold shares of the business. SummitTX Capital L.P. purchased a new stake in Virgin Galactic in the 1st quarter valued at $29,000. Themes Management Co LLC purchased a new stake in Virgin Galactic in the 1st quarter valued at $30,000. Pitcairn Co. purchased a new stake in Virgin Galactic in the 2nd quarter valued at $31,000. Caitong International Asset Management Co. Ltd purchased a new stake in Virgin Galactic in the 4th quarter valued at $34,000. Finally, Baader Bank Aktiengesellschaft purchased a new stake in Virgin Galactic in the 3rd quarter valued at $42,000. Hedge funds and other institutional investors own 46.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Jefferies Financial Group dropped their price target on Virgin Galactic from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Wall Street Zen upgraded shares of Virgin Galactic from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Susquehanna upped their price target on shares of Virgin Galactic from $2.50 to $3.00 and gave the company a “neutral” rating in a research report on Friday, April 10th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Virgin Galactic in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $3.33.

About Virgin Galactic

Virgin Galactic Holdings, Inc (NYSE: SPCE) is a commercial spaceflight company developing and operating spacecraft for private individuals and research customers. The firm’s primary business is suborbital human spaceflight, offering passengers a brief trip to the edge of space aboard its reusable spaceplane. In parallel, the company is building out infrastructure and support services for suborbital payload deployments and microgravity research missions.

The core flight system consists of a carrier aircraft, WhiteKnightTwo, which lifts the spaceplane SpaceShipTwo to high altitude before release.