Virgin Galactic (NYSE:SPCE – Get Free Report) had its price target decreased by stock analysts at The Goldman Sachs Group from $53.00 to $47.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock.
Several other analysts have also recently commented on the company. Susquehanna reduced their target price on Virgin Galactic from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Morgan Stanley reduced their target price on Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating on the stock in a report on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Virgin Galactic presently has a consensus rating of “Hold” and an average target price of $25.50.
Check Out Our Latest Stock Report on Virgin Galactic
Virgin Galactic Stock Performance
Virgin Galactic (NYSE:SPCE – Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported ($4.36) EPS for the quarter, beating the consensus estimate of ($5.40) by $1.04. Virgin Galactic had a negative return on equity of 83.64% and a negative net margin of 3,764.43%. The business had revenue of $4.22 million for the quarter, compared to analysts’ expectations of $3.50 million. During the same period in the prior year, the business posted ($9.20) earnings per share. As a group, sell-side analysts expect that Virgin Galactic will post -18.82 EPS for the current year.
Hedge Funds Weigh In On Virgin Galactic
Several institutional investors have recently added to or reduced their stakes in SPCE. 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. raised its position in shares of Virgin Galactic by 191.9% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 28,900 shares of the company’s stock worth $71,000 after purchasing an additional 19,000 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Virgin Galactic during the first quarter worth approximately $195,000. Capstone Investment Advisors LLC raised its position in shares of Virgin Galactic by 444.5% during the first quarter. Capstone Investment Advisors LLC now owns 151,999 shares of the company’s stock worth $225,000 after purchasing an additional 124,084 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of Virgin Galactic by 1,021.3% during the first quarter. SG Americas Securities LLC now owns 338,050 shares of the company’s stock worth $500,000 after purchasing an additional 307,901 shares during the period. 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.
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