Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE - Get Free Report) have been assigned an average rating of "Reduce" from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $25.50.
SPCE has been the topic of a number of research analyst reports. Morgan Stanley lowered their price target on Virgin Galactic from $35.00 to $5.00 and set an "underweight" rating on the stock in a report on Tuesday, September 17th. The Goldman Sachs Group decreased their target price on Virgin Galactic from $53.00 to $47.00 and set a "neutral" rating on the stock in a research report on Thursday, October 10th. Finally, Susquehanna cut their price target on Virgin Galactic from $8.00 to $6.00 and set a "neutral" rating for the company in a report on Thursday, August 8th.
Get Our Latest Analysis on SPCE
Institutional Investors Weigh In On Virgin Galactic
A number of hedge funds and other institutional investors have recently bought and sold shares of SPCE. Franklin Resources Inc. purchased a new stake in Virgin Galactic in the third quarter valued at about $80,000. Virtu Financial LLC acquired a new position in shares of Virgin Galactic during the third quarter valued at about $70,000. Geode Capital Management LLC raised its position in shares of Virgin Galactic by 21.0% in the 3rd quarter. Geode Capital Management LLC now owns 508,088 shares of the company's stock valued at $3,101,000 after purchasing an additional 88,102 shares during the last quarter. Zacks Investment Management boosted its stake in Virgin Galactic by 40.3% in the 3rd quarter. Zacks Investment Management now owns 35,439 shares of the company's stock worth $216,000 after purchasing an additional 10,172 shares in the last quarter. Finally, Quarry LP purchased a new stake in Virgin Galactic during the 3rd quarter worth approximately $49,000. Hedge funds and other institutional investors own 46.62% of the company's stock.
Virgin Galactic Stock Performance
Virgin Galactic stock traded up $0.27 during trading on Friday, reaching $7.30. The company had a trading volume of 1,624,253 shares, compared to its average volume of 1,401,284. The firm's 50-day simple moving average is $6.69 and its 200 day simple moving average is $8.84. Virgin Galactic has a 52 week low of $5.26 and a 52 week high of $54.60. The company has a current ratio of 4.52, a quick ratio of 4.52 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $210.82 million, a price-to-earnings ratio of -0.43 and a beta of 1.70.
Virgin Galactic (NYSE:SPCE - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($2.66) earnings per share for the quarter, beating analysts' consensus estimates of ($4.10) by $1.44. The company had revenue of $0.40 million for the quarter, compared to analysts' expectations 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 in the previous year, the company earned ($5.60) EPS. Sell-side analysts forecast that Virgin Galactic will post -16.05 earnings per share for the current fiscal year.
Virgin Galactic Company Profile
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Get Free ReportVirgin 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.
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