Virgin Orbit (NASDAQ:VORB) Stock Price Down 6.1%

Virgin Orbit Holdings, Inc. (NASDAQ:VORBGet Rating) shares dropped 6.1% on Wednesday . The company traded as low as $1.67 and last traded at $1.68. Approximately 166,344 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 779,890 shares. The stock had previously closed at $1.79.

Analyst Ratings Changes

VORB has been the topic of a number of recent research reports. Credit Suisse Group initiated coverage on shares of Virgin Orbit in a report on Tuesday, October 11th. They issued an “underperform” rating on the stock. Benchmark cut their price objective on shares of Virgin Orbit to $9.00 in a report on Tuesday, November 15th.

Virgin Orbit Stock Performance

The stock’s fifty day moving average price is $2.16 and its 200 day moving average price is $3.03. The company has a current ratio of 2.15, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49.

Virgin Orbit (NASDAQ:VORBGet Rating) last issued its quarterly earnings data on Monday, November 7th. The company reported ($0.13) earnings per share for the quarter. The company had revenue of $30.91 million for the quarter. Virgin Orbit had a negative net margin of 546.24% and a negative return on equity of 128.75%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. bought a new position in Virgin Orbit during the third quarter valued at approximately $6,643,000. Cowen AND Company LLC bought a new position in Virgin Orbit in the second quarter worth approximately $882,000. Vontobel Holding Ltd. bought a new position in Virgin Orbit in the first quarter worth approximately $167,000. Bank of America Corp DE bought a new position in Virgin Orbit in the first quarter worth approximately $160,000. Finally, Jane Street Group LLC bought a new position in Virgin Orbit in the third quarter worth approximately $49,000. Institutional investors own 11.42% of the company’s stock.

About Virgin Orbit

(Get Rating)

Virgin Orbit Holdings, Inc, a vertically integrated aerospace company, designs and develops commercial space orbital air pad launch solutions for small satellites across government, research, and education industries. It offers launch services for national security and defense; rideshare satellite launch services; civil spaceports; and space solutions.

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Virgin Orbit (NASDAQ:VORB) Stock Price Down 6.1%

Virgin Orbit Holdings, Inc. (NASDAQ:VORBGet Rating) shares dropped 6.1% on Wednesday . The company traded as low as $1.67 and last traded at $1.68. Approximately 166,344 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 779,890 shares. The stock had previously closed at $1.79.

Analyst Ratings Changes

VORB has been the topic of a number of recent research reports. Credit Suisse Group began coverage on shares of Virgin Orbit in a report on Tuesday, October 11th. They issued an “underperform” rating on the stock. Benchmark cut their price target on shares of Virgin Orbit to $9.00 in a report on Tuesday, November 15th.

Virgin Orbit Stock Performance

The stock’s 50-day moving average is $2.16 and its two-hundred day moving average is $3.03. The company has a current ratio of 2.15, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49.

Virgin Orbit (NASDAQ:VORBGet Rating) last issued its quarterly earnings data on Monday, November 7th. The company reported ($0.13) earnings per share for the quarter. The company had revenue of $30.91 million for the quarter. Virgin Orbit had a negative net margin of 546.24% and a negative return on equity of 128.75%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its position in Virgin Orbit by 5,578.0% in the first quarter. Royal Bank of Canada now owns 5,678 shares of the company’s stock worth $41,000 after acquiring an additional 5,578 shares during the period. Citigroup Inc. bought a new stake in shares of Virgin Orbit during the 1st quarter valued at $61,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Virgin Orbit during the 1st quarter valued at $76,000. Walleye Capital LLC bought a new stake in shares of Virgin Orbit during the 1st quarter valued at $76,000. Finally, UBS Group AG raised its position in shares of Virgin Orbit by 512.8% during the 2nd quarter. UBS Group AG now owns 10,737 shares of the company’s stock valued at $41,000 after purchasing an additional 8,985 shares during the period. 11.42% of the stock is currently owned by institutional investors.

Virgin Orbit Company Profile

(Get Rating)

Virgin Orbit Holdings, Inc, a vertically integrated aerospace company, designs and develops commercial space orbital air pad launch solutions for small satellites across government, research, and education industries. It offers launch services for national security and defense; rideshare satellite launch services; civil spaceports; and space solutions.

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