5 Best High-Risk High-Reward Stocks To Buy Now

4. Virgin Galactic Holdings, Inc. (NYSE:SPCE)

Number of Hedge Fund Holders: 12

Virgin Galactic Holdings, Inc. (NYSE:SPCE) is an aerospace and space travel company that is focused on the development, manufacture and operations of spaceships and related technologies for the purpose of conducting commercial human spaceflight. At the beginning of November, Virgin Galactic Holdings, Inc. (NYSE:SPCE) announced an agreement with Axiom Space, a U.S.-based commercial space company, to support a microgravity research and training mission. The Virgin Galactic spaceflight, scheduled for the upcoming year, will prepare an Axiom Space astronaut for a trip to orbit.

Earlier this November, Jefferies analyst Greg Konrad lowered his price target on Virgin Galactic Holdings, Inc. (NYSE:SPCE) to $11 from $14 but maintained a Buy rating on the shares. Following the company’s Q3 report, the analyst noted that schedules have stabilized with plans for the first commercial spaceflight “holding steady” at Q2 2023.

At the end of the third quarter of 2022, 12 hedge funds in the database of Insider Monkey held stakes worth $18.4 million in Virgin Galactic Holdings, Inc. (NYSE:SPCE), compared to 15 in the preceding quarter worth $42.95 million.

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