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

Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) have earned an average rating of “Reduce” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Two 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 1-year target price among brokers that have issued ratings on the stock in the last year is $33.17.

SPCE has been the topic of several research analyst reports. TD Cowen decreased their target price on shares of Virgin Galactic from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, May 13th. Susquehanna decreased their target price on shares of Virgin Galactic from $24.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 17th. Morgan Stanley raised their target price on shares of Virgin Galactic from $1.75 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, June 20th. The Goldman Sachs Group decreased their target price on shares of Virgin Galactic from $70.00 to $61.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company reduced their price target on shares of Virgin Galactic from $20.00 to $15.00 and set an “underweight” rating on the stock in a research report on Thursday, May 9th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SPCE. Amalgamated Bank lifted its position in shares of Virgin Galactic by 19.7% during the fourth quarter. Amalgamated Bank now owns 38,310 shares of the company’s stock worth $94,000 after purchasing an additional 6,311 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Virgin Galactic by 7.2% during the fourth quarter. Van ECK Associates Corp now owns 142,330 shares of the company’s stock worth $349,000 after purchasing an additional 9,533 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Virgin Galactic by 57.5% during the fourth quarter. SG Americas Securities LLC now owns 30,149 shares of the company’s stock worth $74,000 after purchasing an additional 11,011 shares in the last quarter. Axxcess Wealth Management LLC acquired a new position in shares of Virgin Galactic during the fourth quarter worth $27,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Virgin Galactic during the fourth quarter worth $30,000. 46.62% of the stock is owned by institutional investors and hedge funds.

Virgin Galactic Stock Performance

NYSE:SPCE opened at $6.01 on Friday. The company has a market capitalization of $123.52 million, a P/E ratio of -0.24 and a beta of 1.71. Virgin Galactic has a twelve month low of $5.85 and a twelve month high of $78.70. The company has a current ratio of 4.88, a quick ratio of 4.88 and a debt-to-equity ratio of 1.00. The firm has a 50-day moving average price of $10.41 and a two-hundred day moving average price of $22.26.

Virgin Galactic (NYSE:SPCE) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($5.00) EPS for the quarter, topping analysts’ consensus estimates of ($5.20) by $0.20. Virgin Galactic had a negative net margin of 5,301.61% and a negative return on equity of 87.99%. The business had revenue of $1.99 million during the quarter, compared to the consensus estimate of $2.05 million. During the same period in the previous year, the firm posted ($11.40) earnings per share. The company’s quarterly revenue was up 406.4% compared to the same quarter last year. As a group, research analysts expect that Virgin Galactic will post -18.75 earnings per share for the current fiscal year.

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.