Virgin Galactic (NYSE:SPCE) PT Lowered to $6.00

Virgin Galactic (NYSE:SPCE) had its price target cut by equities research analysts at Susquehanna from $8.00 to $6.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Susquehanna’s target price would indicate a potential downside of 2.28% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Morgan Stanley upped their price objective on Virgin Galactic from $1.75 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, June 20th. The Goldman Sachs Group dropped their price objective on Virgin Galactic from $70.00 to $61.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. 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, Wells Fargo & Company dropped their target price on Virgin Galactic from $20.00 to $15.00 and set an “underweight” rating on the stock in a research report on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Virgin Galactic has a consensus rating of “Hold” and a consensus price target of $31.50.

Virgin Galactic Stock Performance

Shares of NYSE SPCE traded up $0.13 during midday trading on Thursday, reaching $6.14. The company’s stock had a trading volume of 1,211,337 shares, compared to its average volume of 1,328,627. Virgin Galactic has a 12-month low of $5.26 and a 12-month high of $70.20. The firm has a 50 day moving average price of $9.14 and a 200-day moving average price of $21.10. The stock has a market capitalization of $126.29 million, a P/E ratio of -0.25 and a beta of 1.71. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.88 and a quick ratio of 4.88.

Virgin Galactic (NYSE:SPCE) last announced its 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. Virgin Galactic had a negative return on equity of 87.99% and a negative net margin of 5,301.61%. The firm had revenue of $4.22 million for the quarter, compared to the consensus estimate of $3.50 million. During the same quarter in the previous year, the business earned ($9.20) EPS. As a group, equities analysts predict that Virgin Galactic will post -18.75 earnings per share for the current year.

Institutional Investors Weigh In On Virgin Galactic

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC increased its holdings in shares of Virgin Galactic by 57.5% in the fourth quarter. SG Americas Securities LLC now owns 30,149 shares of the company’s stock worth $74,000 after purchasing an additional 11,011 shares during the period. Arizona State Retirement System increased its holdings in shares of Virgin Galactic by 34.6% in the fourth quarter. Arizona State Retirement System now owns 97,500 shares of the company’s stock worth $239,000 after purchasing an additional 25,085 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Virgin Galactic by 649.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 18,973 shares of the company’s stock worth $46,000 after purchasing an additional 16,443 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Virgin Galactic by 39.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,918 shares of the company’s stock worth $149,000 after purchasing an additional 17,365 shares during the period. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Virgin Galactic by 99.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 40,508 shares of the company’s stock worth $99,000 after purchasing an additional 20,163 shares during the period. Hedge funds and other 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.