Virgin Galactic (NYSE:SPCE) Stock Price Up 0.2% – Time to Buy?

Virgin Galactic Holdings, Inc. (NYSE:SPCE)’s stock price rose 0.2% on Wednesday . The company traded as high as $7.46 and last traded at $7.03. Approximately 1,588,110 shares traded hands during trading, an increase of 13% from the average daily volume of 1,400,292 shares. The stock had previously closed at $7.01.

Wall Street Analyst Weigh In

SPCE has been the subject of a number of research analyst reports. Susquehanna dropped their price target on Virgin Galactic from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Morgan Stanley decreased their price objective on Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating on the stock in a research note on Tuesday, September 17th. 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 report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $25.50.

Virgin Galactic Stock Up 0.2 %

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 business’s fifty day moving average price is $6.68 and its 200 day moving average price is $8.85. The firm has a market capitalization of $202.85 million, a price-to-earnings ratio of -0.41 and a beta of 1.70.

Virgin Galactic (NYSE:SPCE) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($2.66) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.10) by $1.44. The firm had revenue of $0.40 million during the quarter, compared to the consensus estimate of $0.47 million. Virgin Galactic had a negative return on equity of 88.09% and a negative net margin of 3,975.27%. During the same quarter in the previous year, the business earned ($5.60) earnings per share. On average, equities analysts expect that Virgin Galactic Holdings, Inc. will post -16.05 EPS for the current year.

Institutional Investors Weigh In On Virgin Galactic

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new stake in shares of Virgin Galactic during the 1st quarter worth approximately $268,000. Vanguard Group Inc. grew its position in shares of Virgin Galactic by 0.5% in the first quarter. Vanguard Group Inc. now owns 34,633,452 shares of the company’s stock valued at $51,258,000 after purchasing an additional 158,954 shares during the last quarter. Geode Capital Management LLC grew its position in Virgin Galactic by 21.0% during the third quarter. Geode Capital Management LLC now owns 508,088 shares of the company’s stock worth $3,101,000 after buying an additional 88,102 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Virgin Galactic during the 2nd quarter worth $492,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Virgin Galactic by 908.5% during the third quarter. Nisa Investment Advisors LLC now owns 55,163 shares of the company’s stock worth $336,000 after buying an additional 49,693 shares in the last quarter. 46.62% of the stock is currently owned by institutional investors and hedge funds.

About Virgin Galactic

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.