Virgin Galactic Holdings, Inc. (NYSE:SPCE) Receives $25.50 Consensus Target Price from Analysts

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has been assigned an average rating of “Reduce” from the six analysts that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $25.50.

Several equities research analysts recently issued reports on SPCE shares. The Goldman Sachs Group reduced their price objective on shares of Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Morgan Stanley reduced their price target 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. Finally, Susquehanna reduced their target price on Virgin Galactic from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, August 8th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Virgin Galactic by 0.5% in the first quarter. Vanguard Group Inc. now owns 34,633,452 shares of the company’s stock worth $51,258,000 after acquiring an additional 158,954 shares during the last quarter. American International Group Inc. boosted its holdings in Virgin Galactic by 7.9% in the 1st quarter. American International Group Inc. now owns 176,181 shares of the company’s stock valued at $261,000 after purchasing an additional 12,970 shares during the period. Price T Rowe Associates Inc. MD grew its position 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 worth $451,000 after purchasing an additional 41,667 shares during the last quarter. Bayesian Capital Management LP bought a new position in shares of Virgin Galactic during the 1st quarter worth about $35,000. Finally, California State Teachers Retirement System raised 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 valued at $559,000 after buying an additional 12,803 shares during the last quarter. 46.62% of the stock is owned by institutional investors.

Virgin Galactic Stock Up 3.8 %

SPCE opened at $7.30 on Friday. The company has a market capitalization of $210.82 million, a PE ratio of -0.42 and a beta of 1.70. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.52 and a quick ratio of 4.52. Virgin Galactic has a fifty-two week low of $5.26 and a fifty-two week high of $54.60. The business has a 50-day moving average of $6.71 and a 200-day moving average of $8.54.

Virgin Galactic (NYSE:SPCE) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($2.66) earnings per share for the quarter, beating the consensus estimate of ($4.10) by $1.44. The firm had revenue of $0.40 million for the quarter, compared to analyst estimates of $0.47 million. Virgin Galactic had a negative net margin of 3,975.27% and a negative return on equity of 88.09%. During the same quarter last year, the firm earned ($5.60) earnings per share. Equities research analysts forecast that Virgin Galactic will post -16.05 EPS for the current fiscal 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.