Ethic Inc. Has $76,000 Stock Holdings in Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Ethic Inc. cut its holdings in Virgin Galactic Holdings, Inc. (NYSE:SPCE) by 55.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 12,881 shares of the company’s stock after selling 15,745 shares during the quarter. Ethic Inc.’s holdings in Virgin Galactic were worth $76,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SPCE. Steward Partners Investment Advisory LLC lifted its stake in Virgin Galactic by 97.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,943 shares of the company’s stock valued at $47,000 after acquiring an additional 3,916 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Virgin Galactic in the 4th quarter valued at $71,000. Corebridge Financial Inc. boosted its stake in shares of Virgin Galactic by 28.8% in the 4th quarter. Corebridge Financial Inc. now owns 13,172 shares of the company’s stock valued at $77,000 after purchasing an additional 2,942 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Virgin Galactic in the 4th quarter valued at $80,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Virgin Galactic by 70.7% in the 4th quarter. Wells Fargo & Company MN now owns 16,227 shares of the company’s stock valued at $95,000 after purchasing an additional 6,722 shares in the last quarter. 46.62% of the stock is currently owned by institutional investors and hedge funds.

Virgin Galactic Price Performance

NYSE SPCE opened at $4.80 on Monday. The business has a 50 day simple moving average of $3.06 and a 200 day simple moving average of $4.70. Virgin Galactic Holdings, Inc. has a 52-week low of $2.18 and a 52-week high of $23.00. The company has a debt-to-equity ratio of 1.15, a quick ratio of 4.52 and a current ratio of 4.52. The stock has a market cap of $170.36 million, a price-to-earnings ratio of -0.28 and a beta of 2.10.

Virgin Galactic (NYSE:SPCE) last released its earnings results on Thursday, May 15th. The company reported ($2.38) earnings per share for the quarter, missing the consensus estimate of ($2.23) by ($0.15). Virgin Galactic had a negative net margin of 3,975.27% and a negative return on equity of 88.09%. The firm had revenue of $0.46 million during the quarter, compared to the consensus estimate of $0.33 million. Analysts anticipate that Virgin Galactic Holdings, Inc. will post -16.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on SPCE. The Goldman Sachs Group reduced their price target on shares of Virgin Galactic from $41.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Jefferies Financial Group reduced their price target on shares of Virgin Galactic from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Susquehanna reduced their price target on shares of Virgin Galactic from $4.00 to $3.25 and set a “neutral” rating on the stock in a research report on Thursday, March 13th.

Virgin Galactic Profile

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.