Virgin Galactic Holdings, Inc. (NYSE:SPCE) Receives $26.50 Consensus PT from Brokerages

Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) have earned an average recommendation of “Reduce” from the six brokerages that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $25.50.

A number of analysts have weighed in on the stock. Morgan Stanley decreased their target price on shares of Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating for the company in a research report on Tuesday, September 17th. The Goldman Sachs Group cut their target price on Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Susquehanna lowered their price objective on Virgin Galactic from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th.

Institutional Investors Weigh In On Virgin Galactic

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bayesian Capital Management LP bought a new position in shares of Virgin Galactic in the first quarter worth approximately $35,000. Cantor Fitzgerald L. P. purchased a new position in shares of Virgin Galactic in the 4th quarter worth about $39,000. Newbridge Financial Services Group Inc. raised its position in shares of Virgin Galactic by 191.9% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,900 shares of the company’s stock worth $71,000 after purchasing an additional 19,000 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Virgin Galactic in the 2nd quarter worth about $98,000. Finally, XTX Topco Ltd purchased a new position in shares of Virgin Galactic in the 2nd quarter worth about $145,000. 46.62% of the stock is owned by hedge funds and other institutional investors.

Virgin Galactic Stock Up 2.0 %

NYSE:SPCE opened at $6.25 on Thursday. The company has a quick ratio of 4.71, a current ratio of 4.71 and a debt-to-equity ratio of 1.06. The stock’s 50 day moving average price is $6.31 and its two-hundred day moving average price is $12.17. The firm has a market capitalization of $178 million, a price-to-earnings ratio of -0.31 and a beta of 1.71. Virgin Galactic has a twelve month low of $5.26 and a twelve month high of $54.60.

Virgin Galactic (NYSE:SPCE) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($4.36) EPS for the quarter, beating the consensus estimate of ($5.40) by $1.04. Virgin Galactic had a negative net margin of 3,764.43% and a negative return on equity of 83.64%. The business had revenue of $4.22 million for the quarter, compared to the consensus estimate of $3.50 million. During the same period in the prior year, the company posted ($9.20) earnings per share. Equities research analysts expect that Virgin Galactic will post -18.82 earnings per share for the current fiscal year.

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.