Virgin Galactic (NASDAQ:SPCE) Trading Up 6%

Shares of Virgin Galactic Holdings (NASDAQ:SPCE) were up 6% during trading on Tuesday . The stock traded as high as $21.98 and last traded at $21.81. Approximately 13,034,514 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 17,405,467 shares. The stock had previously closed at $20.57.

Several equities analysts have recently commented on SPCE shares. Zacks Investment Research upgraded shares of Virgin Galactic from a “sell” rating to a “hold” rating in a report on Wednesday, July 8th. BofA Securities started coverage on shares of Virgin Galactic in a report on Monday, September 28th. They issued a “buy” rating and a $35.00 price objective on the stock. Vertical Research restated a “buy” rating and issued a $29.00 price objective on shares of Virgin Galactic in a report on Tuesday, June 30th. 140166 started coverage on shares of Virgin Galactic in a report on Monday, September 28th. They issued a “positive” rating and a $20.00 price objective on the stock. Finally, Credit Suisse Group upgraded shares of Virgin Galactic from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $22.00 to $24.00 in a report on Wednesday, September 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. Virgin Galactic currently has a consensus rating of “Buy” and an average target price of $26.75.

The firm’s 50 day moving average is $18.19 and its two-hundred day moving average is $17.76.

Virgin Galactic (NASDAQ:SPCE) last announced its earnings results on Monday, August 3rd. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.04).

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Virgin Galactic by 41.0% in the 2nd quarter. Vanguard Group Inc. now owns 7,693,712 shares of the company’s stock valued at $125,715,000 after purchasing an additional 2,236,550 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Virgin Galactic by 5,136.5% during the 2nd quarter. Neuberger Berman Group LLC now owns 2,442,897 shares of the company’s stock worth $39,917,000 after purchasing an additional 2,396,246 shares during the period. FMR LLC acquired a new stake in Virgin Galactic during the 2nd quarter worth $15,827,000. Bank of New York Mellon Corp boosted its stake in Virgin Galactic by 658.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 857,427 shares of the company’s stock worth $14,010,000 after purchasing an additional 744,339 shares during the period. Finally, Elephas Investment Management Ltd acquired a new stake in Virgin Galactic during the 1st quarter worth $12,625,000.

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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