Virgin Galactic Holdings, Inc. (NYSE:SPCE) Receives $31.50 Average Target Price from Analysts

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has earned an average recommendation of “Reduce” from the six research firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $26.50.

SPCE has been the topic of several recent analyst reports. Susquehanna reduced 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. Morgan Stanley cut their price objective on shares of Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating on the stock in a report on Tuesday, September 17th. Finally, The Goldman Sachs Group lowered their target price on shares of Virgin Galactic from $61.00 to $53.00 and set a “neutral” rating for the company in a report on Friday, August 9th.

Virgin Galactic Price Performance

Virgin Galactic stock opened at $6.28 on Friday. The stock has a market capitalization of $129.17 million, a P/E ratio of -0.25 and a beta of 1.72. Virgin Galactic has a 12-month low of $5.26 and a 12-month high of $54.60. The company has a debt-to-equity ratio of 1.06, a current ratio of 4.71 and a quick ratio of 4.71. The firm’s 50-day moving average is $6.56 and its two-hundred day moving average is $14.80.

Virgin Galactic (NYSE:SPCE) last announced its earnings results on Wednesday, August 7th. The company reported ($4.36) earnings per share (EPS) for the quarter, topping 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 analyst estimates of $3.50 million. During the same quarter last year, the business earned ($9.20) earnings per share. Equities analysts predict that Virgin Galactic will post -18.82 earnings per share for the current year.

Institutional Trading of Virgin Galactic

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Virgin Galactic by 0.5% during the first quarter. Vanguard Group Inc. now owns 34,633,452 shares of the company’s stock valued at $51,258,000 after buying an additional 158,954 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Virgin Galactic by 14.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,707,073 shares of the company’s stock valued at $6,632,000 after acquiring an additional 349,300 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Virgin Galactic by 2.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 819,273 shares of the company’s stock worth $1,213,000 after purchasing an additional 18,305 shares during the period. Swiss National Bank increased its holdings in Virgin Galactic by 9.1% in the 1st quarter. Swiss National Bank now owns 749,800 shares of the company’s stock valued at $1,110,000 after purchasing an additional 62,400 shares in the last quarter. Finally, Caxton Associates LP raised its position in Virgin Galactic by 52.9% in the first quarter. Caxton Associates LP now owns 562,404 shares of the company’s stock valued at $832,000 after purchasing an additional 194,675 shares during the period. Hedge funds and other institutional investors own 46.62% of the company’s stock.

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.