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

Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) have been given an average rating of “Reduce” by the six analysts that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $25.50.

SPCE has been the subject of a number of recent analyst reports. Morgan Stanley lowered their price objective on Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating for the company in a research report on Tuesday, September 17th. The Goldman Sachs Group lowered their price target 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. Finally, Susquehanna lowered 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.

Institutional Investors Weigh In On Virgin Galactic

A number of large investors have recently made changes to their positions in SPCE. Vanguard Group Inc. lifted its stake in Virgin Galactic by 0.5% during the first quarter. Vanguard Group Inc. now owns 34,633,452 shares of the company’s stock worth $51,258,000 after purchasing an additional 158,954 shares in the last quarter. American International Group Inc. lifted its stake in Virgin Galactic by 7.9% during the first quarter. American International Group Inc. now owns 176,181 shares of the company’s stock worth $261,000 after purchasing an additional 12,970 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Virgin Galactic by 15.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 304,301 shares of the company’s stock worth $451,000 after purchasing an additional 41,667 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Virgin Galactic during the first quarter worth $35,000. Finally, California State Teachers Retirement System increased its position in shares of Virgin Galactic by 3.5% during the first quarter. California State Teachers Retirement System now owns 377,388 shares of the company’s stock worth $559,000 after acquiring an additional 12,803 shares during the period. 46.62% of the stock is currently owned by hedge funds and other institutional investors.

Virgin Galactic Trading Down 4.7 %

SPCE opened at $6.69 on Friday. The stock’s fifty day moving average is $6.74 and its two-hundred day moving average is $8.36. The company has a market capitalization of $193.21 million, a P/E ratio of -0.39 and a beta of 1.75. Virgin Galactic has a 52 week low of $5.26 and a 52 week high of $54.60. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 1.15.

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 analysts’ consensus estimates 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 business had revenue of $0.40 million for the quarter, compared to the consensus estimate of $0.47 million. During the same period last year, the business posted ($5.60) EPS. Analysts forecast that Virgin Galactic will post -16.05 earnings per share for the current year.

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.