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

Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) have been given a consensus recommendation of “Reduce” by the six research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $25.50.

SPCE has been the subject of a number of recent research reports. Susquehanna reduced their price target on Virgin Galactic from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. The Goldman Sachs Group reduced their target price on shares of Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Finally, Morgan Stanley cut their price target on shares of Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 17th.

Virgin Galactic Stock Down 1.0 %

SPCE opened at $6.22 on Monday. The company has a quick ratio of 4.71, a current ratio of 4.71 and a debt-to-equity ratio of 1.06. Virgin Galactic has a 12 month low of $5.26 and a 12 month high of $54.60. The firm’s fifty day simple moving average is $6.52 and its 200 day simple moving average is $9.97.

Virgin Galactic (NYSE:SPCE) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($4.36) EPS for the quarter, beating analysts’ consensus estimates of ($5.40) by $1.04. Virgin Galactic had a negative return on equity of 84.42% and a negative net margin of 3,975.27%. The company had revenue of $4.22 million for the quarter, compared to analyst estimates of $3.50 million. During the same period in the previous year, the company posted ($9.20) earnings per share. On average, research analysts expect that Virgin Galactic will post -18.1 earnings per share for the current fiscal year.

Institutional Trading of Virgin Galactic

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Virgin Galactic during the 2nd quarter worth approximately $98,000. XTX Topco Ltd bought a new position in shares of Virgin Galactic in the second quarter worth $145,000. Bayesian Capital Management LP bought a new position in Virgin Galactic in the 1st quarter valued at about $35,000. Point72 DIFC Ltd bought a new position in Virgin Galactic in the second quarter valued at approximately $240,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Virgin Galactic by 908.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 55,163 shares of the company’s stock worth $336,000 after buying an additional 49,693 shares in the last quarter. 46.62% of the stock is owned by 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.