Analysts Set Virgin Galactic Holdings, Inc. (NYSE:SPCE) Target Price at $25.50

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has received a consensus recommendation of “Reduce” from the six research firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $25.50.

Several research firms recently commented on SPCE. Morgan Stanley cut 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 note on Tuesday, September 17th. The Goldman Sachs Group cut their price objective on Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Finally, Susquehanna cut their target price on Virgin Galactic from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th.

Institutional Trading of Virgin Galactic

A number of hedge funds have recently modified their holdings of SPCE. Vanguard Group Inc. grew its holdings in shares of Virgin Galactic by 0.5% during the first 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. American International Group Inc. grew its stake in Virgin Galactic by 7.9% during the 1st quarter. American International Group Inc. now owns 176,181 shares of the company’s stock valued at $261,000 after acquiring an additional 12,970 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Virgin Galactic by 15.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 304,301 shares of the company’s stock valued at $451,000 after purchasing an additional 41,667 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of Virgin Galactic in the first quarter worth approximately $35,000. Finally, California State Teachers Retirement System boosted its holdings in shares of Virgin Galactic by 3.5% during the first 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. Hedge funds and other institutional investors own 46.62% of the company’s stock.

Virgin Galactic Stock Performance

Shares of SPCE stock opened at $7.30 on Friday. The business has a 50 day simple moving average of $6.71 and a 200 day simple moving average of $8.54. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.52 and a quick ratio of 4.52. The firm has a market capitalization of $210.82 million, a price-to-earnings ratio of -0.42 and a beta of 1.70. Virgin Galactic has a 12-month low of $5.26 and a 12-month high of $54.60.

Virgin Galactic (NYSE:SPCE) last announced its earnings results on Wednesday, November 6th. The company reported ($2.66) earnings per share for the quarter, beating the consensus estimate of ($4.10) by $1.44. Virgin Galactic had a negative return on equity of 88.09% and a negative net margin of 3,975.27%. The business had revenue of $0.40 million during the quarter, compared to analysts’ expectations of $0.47 million. During the same quarter last year, the business posted ($5.60) earnings per share. On average, equities research analysts anticipate that Virgin Galactic will post -16.05 EPS for the current 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.