Cubist Systematic Strategies LLC Invests $492,000 in Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Cubist Systematic Strategies LLC bought a new position in shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 58,361 shares of the company’s stock, valued at approximately $492,000. Cubist Systematic Strategies LLC owned approximately 0.28% of Virgin Galactic as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Bayesian Capital Management LP purchased a new stake in shares of Virgin Galactic during the 1st quarter worth about $35,000. Newbridge Financial Services Group Inc. raised its position in shares of Virgin Galactic by 191.9% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,900 shares of the company’s stock worth $71,000 after purchasing an additional 19,000 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Virgin Galactic during the 2nd quarter worth about $98,000. XTX Topco Ltd acquired a new position in shares of Virgin Galactic during the 2nd quarter worth about $145,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Virgin Galactic during the 1st quarter worth about $151,000. 46.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SPCE has been the subject of several research analyst reports. Susquehanna reduced their price target on shares of Virgin Galactic from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. The Goldman Sachs Group reduced their price target on shares of Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Morgan Stanley cut their price objective on shares of Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating for the company in a report on Tuesday, September 17th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Virgin Galactic currently has an average rating of “Hold” and a consensus price target of $25.50.

Virgin Galactic Stock Up 2.0 %

Shares of NYSE SPCE opened at $6.25 on Friday. The company has a market capitalization of $178 million, a P/E ratio of -0.31 and a beta of 1.71. The company has a debt-to-equity ratio of 1.06, a current ratio of 4.71 and a quick ratio of 4.71. The company has a 50 day simple moving average of $6.31 and a 200-day simple moving average of $12.17. Virgin Galactic Holdings, Inc. has a 1 year low of $5.26 and a 1 year high of $54.60.

Virgin Galactic (NYSE:SPCE) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($4.36) EPS for the quarter, beating the consensus estimate of ($5.40) by $1.04. The firm had revenue of $4.22 million for the quarter, compared to analyst estimates of $3.50 million. Virgin Galactic had a negative net margin of 3,764.43% and a negative return on equity of 83.64%. During the same quarter in the previous year, the company earned ($9.20) EPS. On average, equities research analysts predict that Virgin Galactic Holdings, Inc. will post -18.82 earnings per share for the current year.

Virgin Galactic Company 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.