5 Pump and Dump Stocks Hedge Funds Like

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

Number of Hedge Fund Holders: 12 

52-Week Price Range ($): 4.11 – 16.56   

Virgin Galactic Holdings, Inc. (NYSE:SPCE) focuses on the development, manufacture, and operation of spaceships and related technologies for conducting commercial human spaceflight and flying commercial research and development payloads into space. On November 3, Virgin Galactic Holdings revealed that it has agreed with Axiom Space, a commercial space company, to support microgravity research and training missions. The company will prepare an Axiom Space astronaut for an upcoming trip to orbit.

On November 7, Jefferies analyst Greg Konrad maintained a Buy rating on Virgin Galactic Holdings, Inc. (NYSE:SPCE) stock and lowered the target to $11 from $14, noting after the third quarter results, schedules have stabilized with plans for the first commercial spaceflight holding steady at second quarter 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 $43 million.