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

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has received a consensus recommendation of “Reduce” from the six analysts that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $25.50.

Several research firms have recently weighed in on SPCE. Susquehanna decreased their target price on 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 dropped their target price on Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Finally, Morgan Stanley dropped their price objective on shares of Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating for the company in a report on Tuesday, September 17th.

Virgin Galactic Stock Performance

Shares of NYSE SPCE opened at $6.59 on Thursday. The stock has a market cap of $135.44 million, a price-to-earnings ratio of -0.26 and a beta of 1.71. Virgin Galactic has a 12 month low of $5.26 and a 12 month high of $54.60. The company has a 50 day simple moving average of $6.32 and a two-hundred day simple moving average of $11.89. The company has a current ratio of 4.71, a quick ratio of 4.71 and a debt-to-equity ratio of 1.06.

Virgin Galactic (NYSE:SPCE) last released its quarterly earnings results 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. Virgin Galactic had a negative net margin of 3,764.43% and a negative return on equity of 83.64%. The firm had revenue of $4.22 million for the quarter, compared to analysts’ expectations of $3.50 million. During the same quarter last year, the company earned ($9.20) EPS. As a group, analysts predict that Virgin Galactic will post -18.82 earnings per share for the current year.

Institutional Investors Weigh In On Virgin Galactic

Hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Virgin Galactic during the 2nd quarter worth $98,000. Cantor Fitzgerald L. P. acquired a new stake in shares of Virgin Galactic in the fourth quarter valued at approximately $39,000. XTX Topco Ltd purchased a new position in shares of Virgin Galactic during the second quarter worth approximately $145,000. Bayesian Capital Management LP purchased a new stake in shares of Virgin Galactic in the first quarter valued at about $35,000. Finally, Point72 DIFC Ltd acquired a new stake in Virgin Galactic during the 2nd quarter worth approximately $240,000. 46.62% of the stock is currently 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.