Virgin Galactic Holdings, Inc. (NYSE:SPCE) Receives $25.50 Consensus PT from Brokerages

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

SPCE has been the subject of a number of analyst reports. The Goldman Sachs Group cut their price target on Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Morgan Stanley dropped their price target 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.

Virgin Galactic Stock Performance

NYSE SPCE opened at $6.38 on Tuesday. The company has a market capitalization of $184.25 million, a P/E ratio of -0.37 and a beta of 1.75. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.52 and a quick ratio of 4.52. Virgin Galactic has a 1-year low of $5.26 and a 1-year high of $53.80. The business has a 50 day moving average price of $6.75 and a 200 day moving average price of $6.96.

Virgin Galactic (NYSE:SPCE) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($2.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.10) by $1.44. Virgin Galactic had a negative net margin of 3,975.27% and a negative return on equity of 88.09%. The company had revenue of $0.40 million for the quarter, compared to the consensus estimate of $0.47 million. During the same quarter in the prior year, the firm earned ($5.60) earnings per share. Sell-side analysts expect that Virgin Galactic will post -16.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Virgin Galactic

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in Virgin Galactic by 21.0% in the third quarter. Geode Capital Management LLC now owns 508,088 shares of the company’s stock valued at $3,101,000 after purchasing an additional 88,102 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Virgin Galactic in the second quarter worth $492,000. Nisa Investment Advisors LLC boosted its holdings in shares of Virgin Galactic by 908.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 55,163 shares of the company’s stock valued at $336,000 after buying an additional 49,693 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Virgin Galactic by 29.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 187,368 shares of the company’s stock worth $1,143,000 after purchasing an additional 42,883 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in Virgin Galactic in the second quarter valued at $240,000. Hedge funds and other 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.