Virgin Galactic (NYSE:SPCE) PT Lowered to $47.00

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

Other equities analysts have also recently issued reports about the stock. Susquehanna lowered their price target on shares of Virgin Galactic from $8.00 to $6.00 and set a neutral rating on the stock in a research note on Thursday, August 8th. Morgan Stanley dropped their target price on shares of Virgin Galactic from $35.00 to $5.00 and set an underweight rating for the company in a report on Tuesday, September 17th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $25.50.

Virgin Galactic Stock Up 2.0 %

Shares of NYSE: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 company has a market cap of $128.55 million, a price-to-earnings ratio of -0.25 and a beta of 1.71. Virgin Galactic has a fifty-two week low of $5.26 and a fifty-two week high of $54.60. The firm’s 50-day simple moving average is $6.31 and its 200-day simple moving average is $12.05.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC grew its holdings in Virgin Galactic by 1,021.3% during the 1st quarter. SG Americas Securities LLC now owns 338,050 shares of the company’s stock valued at $500,000 after buying an additional 307,901 shares during the last quarter. Caxton Associates LP increased its position in Virgin Galactic by 52.9% during the 1st quarter. Caxton Associates LP now owns 562,404 shares of the company’s stock worth $832,000 after purchasing an additional 194,675 shares in the last quarter. Virtu Financial LLC acquired a new position in Virgin Galactic in the 1st quarter valued at about $268,000. Vanguard Group Inc. lifted its holdings in Virgin Galactic by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 34,633,452 shares of the company’s stock valued at $51,258,000 after purchasing an additional 158,954 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Virgin Galactic in the 1st quarter valued at about $195,000. 46.62% of the stock is owned by hedge funds and other institutional investors.

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.