Virgin Galactic Holdings, Inc. (NYSE:SPCE) Given Average Recommendation of “Reduce” by Analysts

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has been assigned an average rating of “Reduce” from the six ratings firms that are covering the firm, Marketbeat reports. Two 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 1 year price target among brokers that have issued a report on the stock in the last year is $26.50.

Several equities analysts recently issued reports on SPCE shares. Morgan Stanley reduced their price objective on shares of Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating on the stock in a research note on Tuesday. Susquehanna reduced their price target on Virgin Galactic from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group lowered their price objective on Virgin Galactic from $61.00 to $53.00 and set a “neutral” rating for the company in a research report on Friday, August 9th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SPCE. Vanguard Personalized Indexing Management LLC bought a new stake in Virgin Galactic in the 4th quarter valued at about $30,000. Bayesian Capital Management LP bought a new stake in shares of Virgin Galactic during the first quarter valued at approximately $35,000. Cantor Fitzgerald L. P. acquired a new position in shares of Virgin Galactic during the fourth quarter worth approximately $39,000. Newbridge Financial Services Group Inc. grew its holdings in Virgin Galactic by 191.9% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,900 shares of the company’s stock worth $71,000 after buying an additional 19,000 shares in the last quarter. Finally, Amalgamated Bank increased its position in Virgin Galactic by 19.7% in the 4th quarter. Amalgamated Bank now owns 38,310 shares of the company’s stock valued at $94,000 after acquiring an additional 6,311 shares during the period. 46.62% of the stock is owned by institutional investors and hedge funds.

Virgin Galactic Stock Down 1.4 %

SPCE stock opened at $6.50 on Friday. The company has a current ratio of 4.71, a quick ratio of 4.71 and a debt-to-equity ratio of 1.06. The company’s 50-day moving average price is $6.60 and its 200 day moving average price is $15.10. Virgin Galactic has a 52 week low of $5.26 and a 52 week high of $54.60. The company has a market cap of $133.69 million, a P/E ratio of -0.26 and a beta of 1.72.

Virgin Galactic (NYSE:SPCE) last announced 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. The company had revenue of $4.22 million during the quarter, compared to analysts’ expectations of $3.50 million. Virgin Galactic had a negative net margin of 3,764.43% and a negative return on equity of 83.64%. During the same quarter in the previous year, the business posted ($9.20) earnings per share. On average, research analysts expect that Virgin Galactic will post -18.82 earnings per share for the current fiscal 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.