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

Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE - Get Free Report) have earned an average recommendation of "Reduce" from the six research firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $25.50.

A number of research firms have weighed in on SPCE. Morgan Stanley cut their price target on shares of Virgin Galactic from $35.00 to $5.00 and set an "underweight" rating on the stock in a research note on Tuesday, September 17th. Susquehanna dropped their price objective on shares of Virgin Galactic from $8.00 to $6.00 and set a "neutral" rating for the company in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group dropped 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 report on Thursday, October 10th.

Virgin Galactic Trading Down 2.9 %

NYSE:SPCE traded down $0.19 during trading hours on Monday, reaching $6.42. 998,318 shares of the company were exchanged, compared to its average volume of 1,317,437. The company has a debt-to-equity ratio of 1.06, a current ratio of 4.71 and a quick ratio of 4.71. The firm has a market cap of $182.84 million, a price-to-earnings ratio of -0.33 and a beta of 1.70. Virgin Galactic has a 52-week low of $5.26 and a 52-week high of $54.60. The stock has a 50 day simple moving average of $6.54 and a 200 day simple moving average of $10.24.

Virgin Galactic (NYSE:SPCE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($4.36) earnings per share for the quarter, topping analysts' consensus estimates of ($5.40) by $1.04. The company had revenue of $4.22 million for the quarter, compared to the consensus estimate of $3.50 million. Virgin Galactic had a negative net margin of 3,764.43% and a negative return on equity of 83.64%. During the same quarter last year, the firm posted ($9.20) earnings per share. As a group, analysts predict that Virgin Galactic will post -18.1 EPS for the current year.

Institutional Investors Weigh In On Virgin Galactic

A number of large investors have recently added to or reduced their stakes in the company. Bayesian Capital Management LP acquired a new position in Virgin Galactic during the 1st quarter worth $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Virgin Galactic during the 2nd quarter worth $98,000. XTX Topco Ltd acquired a new position in Virgin Galactic during the 2nd quarter worth $145,000. Susquehanna Fundamental Investments LLC acquired a new position in Virgin Galactic during the 1st quarter worth $151,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Virgin Galactic during the 1st quarter worth $195,000. 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.