Virgin Galactic (NASDAQ:SPCE) Shares Gap Up to $15.55

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Shares of Virgin Galactic Holdings (NASDAQ:SPCE) gapped up before the market opened on Monday . The stock had previously closed at $15.00, but opened at $15.55. Virgin Galactic shares last traded at $15.03, with a volume of 9,039,283 shares trading hands.

Several equities analysts have recently issued reports on the stock. Vertical Research reaffirmed a “buy” rating and set a $29.00 price target on shares of Virgin Galactic in a research note on Tuesday. Zacks Investment Research downgraded shares of Virgin Galactic from a “hold” rating to a “sell” rating in a research note on Tuesday. Morgan Stanley raised shares of Virgin Galactic from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $30.00 to $24.00 in a research note on Tuesday, March 24th. Finally, Credit Suisse Group lowered their target price on shares of Virgin Galactic from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, June 10th.

The business’s 50 day moving average is $15.94 and its two-hundred day moving average is $16.90.

Virgin Galactic (NASDAQ:SPCE) last announced its 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 company had revenue of $0.24 million for the quarter, compared to analyst estimates of $0.65 million. The firm’s quarterly revenue was down 86.5% on a year-over-year basis.

In related news, Director Craig S. Kreeger purchased 10,000 shares of Virgin Galactic stock in a transaction on Tuesday, May 12th. The stock was acquired at an average cost of $19.48 per share, for a total transaction of $194,800.00. Following the completion of the acquisition, the director now owns 35,445 shares of the company’s stock, valued at approximately $690,468.60. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder 10 Ltd Vieco sold 1,300,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $15.92, for a total transaction of $20,696,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 12,357 shares of company stock valued at $239,261 and sold 34,280,000 shares valued at $516,012,500.

Large investors have recently bought and sold shares of the business. Pearl River Capital LLC acquired a new stake in Virgin Galactic in the first quarter worth $27,000. Truvestments Capital LLC acquired a new position in shares of Virgin Galactic during the first quarter valued at about $28,000. Edge Wealth Management LLC acquired a new position in shares of Virgin Galactic during the first quarter valued at about $30,000. Bainco International Investors acquired a new position in shares of Virgin Galactic during the first quarter valued at about $30,000. Finally, PNC Financial Services Group Inc. acquired a new position in shares of Virgin Galactic during the first quarter valued at about $34,000.

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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