Analysts Set Virgin Galactic Holdings, Inc. (NYSE:SPCE) Price Target at $37.00

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has been assigned an average recommendation of “Reduce” from the six ratings firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $37.00.

A number of equities research analysts have weighed in on SPCE shares. Susquehanna reduced their price objective on Virgin Galactic from $40.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. TD Cowen decreased their price target on shares of Virgin Galactic from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, May 13th. Wells Fargo & Company lowered their price objective 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. The Goldman Sachs Group reduced their target price on shares of Virgin Galactic from $80.00 to $70.00 and set a “neutral” rating for the company in a report on Monday, May 13th. Finally, Morgan Stanley raised their price target on Virgin Galactic from $1.75 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, June 20th.

Virgin Galactic Price Performance

Virgin Galactic stock opened at $7.87 on Tuesday. 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 company has a fifty day simple moving average of $15.57 and a 200-day simple moving average of $28.25. The stock has a market cap of $161.89 million, a P/E ratio of -0.31 and a beta of 1.71. Virgin Galactic has a 12-month low of $7.76 and a 12-month high of $86.40.

Virgin Galactic (NYSE:SPCE) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($5.00) earnings per share for the quarter, topping analysts’ consensus estimates of ($5.20) by $0.20. The company had revenue of $1.99 million for the quarter, compared to analysts’ expectations of $2.05 million. Virgin Galactic had a negative net margin of 5,301.61% and a negative return on equity of 87.99%. The firm’s revenue for the quarter was up 406.4% on a year-over-year basis. During the same quarter last year, the company earned ($11.40) earnings per share. Equities analysts expect that Virgin Galactic will post -18.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Virgin Galactic

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new position in Virgin Galactic during the 1st quarter valued at about $268,000. California State Teachers Retirement System increased its stake in shares of Virgin Galactic by 3.5% during the 1st quarter. California State Teachers Retirement System now owns 377,388 shares of the company’s stock worth $559,000 after purchasing an additional 12,803 shares in the last quarter. Bayesian Capital Management LP purchased a new position in shares of Virgin Galactic during the 1st quarter worth approximately $35,000. Caxton Associates LP raised its position in shares of 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 during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Virgin Galactic by 15.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 304,301 shares of the company’s stock valued at $451,000 after buying an additional 41,667 shares in the last quarter. 46.62% of the stock is owned by institutional investors and hedge funds.

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.