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

Virgin Galactic Holdings, Inc. (NYSE:SPCE) Director Diana Strandberg purchased 20,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the director owned 70,930 shares of the company’s stock, valued at approximately $176,615.70. The trade was a 39.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Virgin Galactic Trading Up 10.7%

Shares of SPCE traded up $0.27 during trading on Thursday, reaching $2.74. 13,223,470 shares of the company traded hands, compared to its average volume of 5,874,324. Virgin Galactic Holdings, Inc. has a twelve month low of $2.13 and a twelve month high of $5.23. The stock has a market cap of $222.66 million, a PE ratio of -0.63 and a beta of 2.18. The stock has a 50-day simple moving average of $2.65 and a 200-day simple moving average of $2.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.91.

Virgin Galactic (NYSE:SPCE) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.81) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.05. The business had revenue of $0.23 million during the quarter, compared to analysts’ expectations 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, analysts anticipate that Virgin Galactic Holdings, Inc. will post -3.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in Virgin Galactic during the 4th quarter worth approximately $34,000. Baader Bank Aktiengesellschaft acquired a new position in Virgin Galactic during the 3rd quarter worth approximately $42,000. PharVision Advisers LLC acquired a new position in Virgin Galactic during the 3rd quarter worth approximately $43,000. Pitcairn Co. acquired a new position in Virgin Galactic during the 2nd quarter worth approximately $31,000. Finally, SummitTX Capital L.P. acquired a new position in Virgin Galactic during the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 46.62% of the company’s stock.

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.