Virgin Galactic Holdings, Inc. (NYSE:SPCE) Given Average Rating of “Reduce” by Analysts

Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) have received a consensus rating of “Reduce” from the six research firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $31.50.

A number of equities research analysts recently weighed in on SPCE shares. Susquehanna lowered their price target on shares of Virgin Galactic from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Morgan Stanley raised their price target on Virgin Galactic from $1.75 to $35.00 and gave the company an “underweight” rating in a report on Thursday, June 20th. Finally, The Goldman Sachs Group cut their price objective on Virgin Galactic from $61.00 to $53.00 and set a “neutral” rating for the company in a report on Friday, August 9th.

Virgin Galactic Trading Up 11.3 %

SPCE stock opened at $6.99 on Friday. The business has a fifty day simple moving average of $6.65 and a 200-day simple moving average of $15.73. Virgin Galactic has a 52 week low of $5.26 and a 52 week high of $54.60. 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 company has a market cap of $143.77 million, a price-to-earnings ratio of -0.28 and a beta of 1.72.

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

Institutional Trading of Virgin Galactic

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in Virgin Galactic by 35.2% during the 4th quarter. Victory Capital Management Inc. now owns 49,094 shares of the company’s stock valued at $120,000 after purchasing an additional 12,791 shares during the period. Swiss National Bank raised its holdings in shares of Virgin Galactic by 23.0% in the fourth quarter. Swiss National Bank now owns 687,400 shares of the company’s stock valued at $1,684,000 after buying an additional 128,400 shares during the last quarter. Amalgamated Bank lifted its position in Virgin Galactic by 19.7% during the 4th quarter. Amalgamated Bank now owns 38,310 shares of the company’s stock worth $94,000 after buying an additional 6,311 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Virgin Galactic by 14.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,707,073 shares of the company’s stock valued at $6,632,000 after purchasing an additional 349,300 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Virgin Galactic by 57.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 800,968 shares of the company’s stock valued at $1,850,000 after purchasing an additional 291,757 shares during the period. 46.62% of the stock is currently owned by hedge funds and other institutional investors.

About Virgin Galactic

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.