Virgin Galactic (NYSE:SPCE) PT Lowered to $5.00 at Morgan Stanley

Virgin Galactic (NYSE:SPCE - Free Report) had its target price trimmed by Morgan Stanley from $35.00 to $5.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has an underweight rating on the stock.

SPCE has been the subject of a number of other reports. Susquehanna decreased their price target on shares of Virgin Galactic from $8.00 to $6.00 and set a neutral rating for the company in a research note on Thursday, August 8th. The Goldman Sachs Group decreased their target price on Virgin Galactic from $61.00 to $53.00 and set a neutral rating for the company in a research report on Friday, August 9th. 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 stock. Based on data from MarketBeat.com, Virgin Galactic currently has a consensus rating of Hold and a consensus target price of $26.50.

Virgin Galactic Trading Down 2.7 %

Shares of NYSE SPCE traded down $0.20 during trading hours on Tuesday, hitting $6.97. The company's stock had a trading volume of 2,109,559 shares, compared to its average volume of 1,318,827. Virgin Galactic has a 12 month low of $5.26 and a 12 month high of $54.60. The stock has a market cap of $143.26 million, a price-to-earnings ratio of -0.28 and a beta of 1.72. The company has a debt-to-equity ratio of 1.06, a quick ratio of 4.71 and a current ratio of 4.71. The business has a 50-day simple moving average of $6.63 and a 200-day simple moving average of $15.22.

Virgin Galactic (NYSE:SPCE - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($4.36) earnings per share for the quarter, beating the consensus estimate of ($5.40) by $1.04. Virgin Galactic had a negative net margin of 3,764.43% and a negative return on equity of 83.64%. The business had revenue of $4.22 million for the quarter, compared to analysts' expectations of $3.50 million. During the same quarter in the previous year, the business posted ($9.20) earnings per share. On average, analysts anticipate that Virgin Galactic will post -18.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Virgin Galactic

Large investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Virgin Galactic in the 2nd quarter worth about $98,000. Vanguard Personalized Indexing Management LLC purchased a new position in Virgin Galactic in the fourth quarter worth about $30,000. Cantor Fitzgerald L. P. bought a new position in shares of Virgin Galactic in the fourth quarter worth approximately $39,000. XTX Topco Ltd purchased a new stake in shares of Virgin Galactic during the second quarter valued at approximately $145,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Virgin Galactic during the first quarter valued at approximately $35,000. 46.62% of the stock is currently owned by hedge funds and other institutional investors.

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.