Virgin Galactic Holdings, Inc. (NYSE:SPCE) Given Average Recommendation of "Reduce" by Brokerages

Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE - Get Free Report) have received an average recommendation of "Reduce" from the six analysts that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $31.50.

Several equities analysts have commented on the stock. Susquehanna dropped their target price on shares of Virgin Galactic from $8.00 to $6.00 and set a "neutral" rating on the stock in a research report on Thursday, August 8th. The Goldman Sachs Group decreased their price objective on shares of Virgin Galactic from $61.00 to $53.00 and set a "neutral" rating for the company in a report on Friday, August 9th. Wells Fargo & Company reduced their target price on shares of Virgin Galactic from $20.00 to $15.00 and set an "underweight" rating for the company in a research report on Thursday, May 9th. TD Cowen dropped their price objective on Virgin Galactic from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, May 13th. Finally, Morgan Stanley increased their price target on Virgin Galactic from $1.75 to $35.00 and gave the stock an "underweight" rating in a research note on Thursday, June 20th.

Virgin Galactic Stock Up 7.8 %

Shares of SPCE traded up $0.51 during trading hours on Wednesday, hitting $7.02. The stock had a trading volume of 1,938,746 shares, compared to its average volume of 1,339,782. The firm has a 50 day simple moving average of $7.43 and a 200-day simple moving average of $19.24. Virgin Galactic has a 1-year low of $5.26 and a 1-year high of $57.80. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.88 and a quick ratio of 4.88. The firm has a market capitalization of $144.39 million, a P/E ratio of -0.28 and a beta of 1.71.

Virgin Galactic (NYSE:SPCE - Get Free Report) last issued 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 firm 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 5,301.61% and a negative return on equity of 87.99%. During the same period last year, the company earned ($9.20) earnings per share. Sell-side analysts predict that Virgin Galactic will post -18.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Axxcess Wealth Management LLC purchased a new stake in Virgin Galactic in the fourth quarter worth about $27,000. Vanguard Personalized Indexing Management LLC bought a new position in Virgin Galactic in the fourth quarter worth $30,000. Bayesian Capital Management LP bought a new stake in shares of Virgin Galactic during the 1st quarter valued at $35,000. Cantor Fitzgerald L. P. purchased a new stake in shares of Virgin Galactic in the 4th quarter worth about $39,000. Finally, Newbridge Financial Services Group Inc. boosted its stake in 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 acquiring an additional 19,000 shares in the last quarter. Institutional investors own 46.62% of the company's stock.

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.