Virgin Galactic (NYSE:SPCE) Price Target Lowered to $47.00 at The Goldman Sachs Group

Virgin Galactic (NYSE:SPCE) had its target price cut by The Goldman Sachs Group from $53.00 to $47.00 in a research note published on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also issued reports about the company. Susquehanna reduced 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. Morgan Stanley cut their price target on Virgin Galactic from $35.00 to $5.00 and set an underweight rating for the company in a report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $25.50.

Virgin Galactic Stock Up 2.0 %

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 firm has a 50 day moving average price of $6.31 and a 200-day moving average price of $12.17. Virgin Galactic has a twelve month low of $5.26 and a twelve month high of $54.60. The stock has a market capitalization of $178 million, a price-to-earnings ratio of -0.31 and a beta of 1.71.

Virgin Galactic (NYSE:SPCE) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($4.36) earnings per share 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 firm had revenue of $4.22 million during the quarter, compared to analysts’ expectations of $3.50 million. During the same period in the previous year, the company earned ($9.20) earnings per share. Equities research analysts forecast that Virgin Galactic will post -18.82 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. XTX Topco Ltd purchased a new position in shares of Virgin Galactic in the second quarter valued at about $145,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Virgin Galactic during the 2nd quarter valued at approximately $98,000. Point72 DIFC Ltd purchased a new position in Virgin Galactic in the 2nd quarter worth approximately $240,000. Cubist Systematic Strategies LLC bought a new position in Virgin Galactic in the 2nd quarter worth approximately $492,000. Finally, Vanguard Group Inc. grew its holdings in Virgin Galactic by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 34,633,452 shares of the company’s stock valued at $51,258,000 after buying an additional 158,954 shares in the last quarter. Institutional investors 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.