Virgin Galactic (NYSE:SPCE) Trading Up 2.5% – Here’s What Happened

Virgin Galactic Holdings, Inc. (NYSE:SPCE) shares rose 2.5% during mid-day trading on Friday . The company traded as high as $4.46 and last traded at $4.38. Approximately 890,138 shares were traded during trading, a decline of 53% from the average daily volume of 1,910,207 shares. The stock had previously closed at $4.27.

Virgin Galactic Stock Performance

The firm’s 50 day simple moving average is $5.53 and its 200 day simple moving average is $6.22. The company has a current ratio of 4.52, a quick ratio of 4.52 and a debt-to-equity ratio of 1.15. The firm has a market cap of $126.35 million, a PE ratio of -0.25 and a beta of 1.74.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SPCE. Northern Trust Corp raised its holdings in shares of Virgin Galactic by 39.6% in the 4th quarter. Northern Trust Corp now owns 222,753 shares of the company’s stock valued at $1,310,000 after purchasing an additional 63,141 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Virgin Galactic during the 4th quarter worth approximately $150,000. MetLife Investment Management LLC acquired a new stake in Virgin Galactic in the fourth quarter valued at approximately $97,000. MYDA Advisors LLC acquired a new position in Virgin Galactic during the fourth quarter worth $432,000. Finally, Zacks Investment Management boosted its stake in Virgin Galactic by 11.7% during the 4th quarter. Zacks Investment Management now owns 39,582 shares of the company’s stock worth $233,000 after purchasing an additional 4,143 shares during the last quarter. Institutional investors own 46.62% of the company’s stock.

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.