Virgin Galactic (NYSE:SPCE) Trading Up 0.2% – What’s Next?

Virgin Galactic Holdings, Inc. (NYSE:SPCE)’s stock price was up 0.2% during mid-day trading on Wednesday . The company traded as high as $7.46 and last traded at $7.03. Approximately 1,588,110 shares traded hands during trading, an increase of 13% from the average daily volume of 1,400,292 shares. The stock had previously closed at $7.01.

Analyst Ratings Changes

SPCE has been the subject of several research reports. Susquehanna reduced their price objective on shares of Virgin Galactic from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Morgan Stanley decreased 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. Finally, 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. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $25.50.

Virgin Galactic Price Performance

The business’s 50 day moving average is $6.69 and its 200 day moving average is $8.84. 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 (NYSE:SPCE) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($2.66) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $0.40 million during the quarter, compared to the consensus estimate of $0.47 million. During the same period in the prior year, the business earned ($5.60) EPS. Equities analysts forecast that Virgin Galactic Holdings, Inc. will post -16.05 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. acquired a new stake in shares of Virgin Galactic during the 3rd quarter valued at $80,000. Virtu Financial LLC purchased a new position in Virgin Galactic in the third quarter valued at about $70,000. Geode Capital Management LLC raised its stake in shares of Virgin Galactic by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 508,088 shares of the company’s stock worth $3,101,000 after purchasing an additional 88,102 shares in the last quarter. Zacks Investment Management grew its stake in shares of Virgin Galactic by 40.3% in the 3rd quarter. Zacks Investment Management now owns 35,439 shares of the company’s stock valued at $216,000 after buying an additional 10,172 shares in the last quarter. Finally, Quarry LP acquired a new stake in Virgin Galactic in the third quarter valued at approximately $49,000. 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.