Penserra Capital Management LLC Has $242,000 Stock Position in Virgin Galactic Holdings, Inc. $SPCE

Penserra Capital Management LLC lessened its stake in Virgin Galactic Holdings, Inc. (NYSE:SPCE) by 33.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,954 shares of the company’s stock after selling 45,484 shares during the quarter. Penserra Capital Management LLC’s holdings in Virgin Galactic were worth $242,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Apollon Wealth Management LLC acquired a new stake in Virgin Galactic during the first quarter worth about $31,000. Cerity Partners LLC acquired a new stake in shares of Virgin Galactic during the 1st quarter worth approximately $32,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Virgin Galactic during the 1st quarter worth approximately $33,000. Caption Management LLC increased its stake in Virgin Galactic by 112.1% in the first quarter. Caption Management LLC now owns 11,555 shares of the company’s stock valued at $35,000 after acquiring an additional 107,315 shares during the last quarter. Finally, Marathon Trading Investment Management LLC acquired a new position in Virgin Galactic during the first quarter valued at approximately $38,000. Institutional investors own 46.62% of the company’s stock.

Virgin Galactic Stock Performance

Shares of SPCE stock opened at $3.64 on Thursday. The firm has a market capitalization of $209.34 million, a price-to-earnings ratio of -0.40 and a beta of 2.28. The company has a current ratio of 3.38, a quick ratio of 3.38 and a debt-to-equity ratio of 1.60. The business’s 50-day moving average price is $3.74 and its 200-day moving average price is $3.44. Virgin Galactic Holdings, Inc. has a 12 month low of $2.18 and a 12 month high of $8.19.

Analysts Set New Price Targets

SPCE has been the topic of a number of research analyst reports. Wall Street Zen raised Virgin Galactic from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Virgin Galactic in a research report on Wednesday, October 8th. Finally, Susquehanna reissued a “neutral” rating and set a $4.00 target price (up previously from $3.25) on shares of Virgin Galactic in a research note on Thursday, October 9th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Virgin Galactic has a consensus rating of “Hold” and a consensus target price of $5.00.

About Virgin Galactic

Virgin Galactic Holdings, Inc, an aerospace and space travel company, focuses on the development, manufacture, and operation of spaceships and related technologies. The company engages in the design and development, manufacturing, ground and flight testing, spaceflight operation, and post-flight maintenance of spaceflight systems for private individuals, researchers, and government agencies.