Analysts Set Virgin Galactic Holdings, Inc. (NYSE:SPCE) Target Price at $25.50

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

A number of research firms have recently commented on SPCE. Susquehanna cut their price objective on Virgin Galactic from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Morgan Stanley lowered their price objective on Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating for the company in a research note on Tuesday, September 17th. Finally, The Goldman Sachs Group reduced their price target on shares of Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th.

Virgin Galactic Stock Performance

Shares of SPCE stock opened at $6.30 on Friday. Virgin Galactic has a 12 month low of $5.26 and a 12 month 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 company has a market cap of $181.94 million, a P/E ratio of -0.37 and a beta of 1.75. The firm has a fifty day moving average price of $6.76 and a 200 day moving average price of $8.33.

Virgin Galactic (NYSE:SPCE) last announced its earnings results on Wednesday, November 6th. The company reported ($2.66) earnings per share for the quarter, beating the consensus estimate of ($4.10) by $1.44. The company had revenue of $0.40 million for 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 period last year, the business posted ($5.60) EPS. Sell-side analysts predict that Virgin Galactic will post -16.05 earnings per share for the current fiscal year.

Institutional Trading of Virgin Galactic

Several institutional investors and hedge funds have recently made changes to their positions in SPCE. Virtu Financial LLC bought a new stake in shares of Virgin Galactic during the 1st quarter worth about $268,000. Vanguard Group Inc. lifted its holdings in Virgin Galactic by 0.5% during the first quarter. Vanguard Group Inc. now owns 34,633,452 shares of the company’s stock worth $51,258,000 after acquiring an additional 158,954 shares during the period. Geode Capital Management LLC increased its position in shares of Virgin Galactic by 21.0% during the third quarter. Geode Capital Management LLC now owns 508,088 shares of the company’s stock valued at $3,101,000 after buying an additional 88,102 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Virgin Galactic in the 2nd quarter valued at about $492,000. Finally, Nisa Investment Advisors LLC grew its position in Virgin Galactic by 908.5% in the third quarter. Nisa Investment Advisors LLC now owns 55,163 shares of the company’s stock worth $336,000 after acquiring an additional 49,693 shares in the last quarter. 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.