Virgin Galactic (NYSE:SPCE) PT Raised to $35.00 at Morgan Stanley

Virgin Galactic (NYSE:SPCE) had its price target increased by investment analysts at Morgan Stanley from $1.75 to $35.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 268.42% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Wells Fargo & Company reduced their price objective on Virgin Galactic from $20.00 to $15.00 and set an “underweight” rating for the company in a report on Thursday, May 9th. Susquehanna cut their price target on Virgin Galactic from $40.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. The Goldman Sachs Group cut their price target on Virgin Galactic from $80.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, May 13th. Truist Financial cut their price target on Virgin Galactic from $60.00 to $40.00 and set a “hold” rating for the company in a report on Wednesday, February 28th. Finally, TD Cowen cut their price target on Virgin Galactic from $50.00 to $40.00 and set a “buy” rating for the company in a report on Monday, May 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Virgin Galactic currently has a consensus rating of “Hold” and an average price target of $37.00.

Virgin Galactic Stock Up 7.2 %

Virgin Galactic stock opened at $9.50 on Thursday. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.88 and a quick ratio of 4.88. Virgin Galactic has a 1-year low of $8.55 and a 1-year high of $111.80. The company has a market cap of $195.42 million, a PE ratio of -0.38 and a beta of 1.76. The stock’s 50 day moving average price is $17.35 and its 200 day moving average price is $30.58.

Virgin Galactic (NYSE:SPCE) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($5.00) earnings per share for the quarter, beating analysts’ consensus estimates of ($5.20) by $0.20. Virgin Galactic had a negative return on equity of 87.99% and a negative net margin of 5,301.61%. The firm had revenue of $1.99 million for the quarter, compared to the consensus estimate of $2.05 million. During the same period in the previous year, the business earned ($11.40) earnings per share. The company’s revenue for the quarter was up 406.4% compared to the same quarter last year. On average, sell-side analysts predict that Virgin Galactic will post -18.75 EPS for the current fiscal year.

Institutional Trading of Virgin Galactic

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in shares of Virgin Galactic during the 1st quarter worth approximately $268,000. California State Teachers Retirement System raised its position in shares of Virgin Galactic by 3.5% during the 1st quarter. California State Teachers Retirement System now owns 377,388 shares of the company’s stock worth $559,000 after purchasing an additional 12,803 shares during the period. Bayesian Capital Management LP acquired a new stake in shares of Virgin Galactic during the 1st quarter worth approximately $35,000. Caxton Associates LP raised its position in shares of Virgin Galactic by 52.9% during the 1st quarter. Caxton Associates LP now owns 562,404 shares of the company’s stock worth $832,000 after purchasing an additional 194,675 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Virgin Galactic by 15.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 304,301 shares of the company’s stock worth $451,000 after purchasing an additional 41,667 shares during the period. Institutional investors and hedge funds own 46.62% of the company’s stock.

Virgin Galactic Company Profile

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.