Analysts Set Virgin Galactic Holdings, Inc. (NYSE:SPCE) Price Target at $26.50

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has received a consensus rating of “Reduce” from the six research firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $25.50.

SPCE has been the subject of several recent analyst reports. Morgan Stanley dropped their price target on Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating for the company in a research note on Tuesday, September 17th. Susquehanna dropped their price target on Virgin Galactic from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group dropped their price target on Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday.

Institutional Trading of Virgin Galactic

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC grew its position in Virgin Galactic by 1,021.3% in the 1st quarter. SG Americas Securities LLC now owns 338,050 shares of the company’s stock valued at $500,000 after acquiring an additional 307,901 shares during the last quarter. Caxton Associates LP grew 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 buying an additional 194,675 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Virgin Galactic during the 1st quarter worth $268,000. Vanguard Group Inc. grew its position in shares of Virgin Galactic by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 34,633,452 shares of the company’s stock worth $51,258,000 after buying an additional 158,954 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Virgin Galactic during the 1st quarter worth $195,000. Hedge funds and other institutional investors own 46.62% of the company’s stock.

Virgin Galactic Trading Up 2.0 %

Virgin Galactic stock opened at $6.25 on Thursday. The business has a 50-day simple moving average of $6.31 and a two-hundred day simple moving average of $12.17. The company has a market cap of $178 million, a P/E ratio of -0.31 and a beta of 1.71. 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 4.71, a current ratio of 4.71 and a debt-to-equity ratio of 1.06.

Virgin Galactic (NYSE:SPCE) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($4.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($5.40) by $1.04. The company had revenue of $4.22 million during the quarter, compared to the consensus estimate of $3.50 million. Virgin Galactic had a negative return on equity of 83.64% and a negative net margin of 3,764.43%. During the same period in the previous year, the company posted ($9.20) EPS. Analysts predict that Virgin Galactic will post -18.82 EPS for the current 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.