Virgin Galactic Holdings, Inc. (NYSE:SPCE) Receives Consensus Rating of “Reduce” from Analysts

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has been given a consensus rating of “Reduce” by the six brokerages that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $25.50.

Several equities research analysts have recently weighed in on the company. Susquehanna reduced their price target 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 target 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 price objective on Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th.

Institutional Trading of Virgin Galactic

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPCE. Vanguard Group Inc. raised its holdings in shares of 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 in the last quarter. American International Group Inc. boosted its stake in Virgin Galactic by 7.9% in the 1st quarter. American International Group Inc. now owns 176,181 shares of the company’s stock valued at $261,000 after buying an additional 12,970 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Virgin Galactic by 15.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 304,301 shares of the company’s stock valued at $451,000 after purchasing an additional 41,667 shares in the last quarter. Bayesian Capital Management LP bought a new stake in shares of Virgin Galactic during the first quarter valued at approximately $35,000. Finally, California State Teachers Retirement System lifted its position in Virgin Galactic by 3.5% during the 1st quarter. California State Teachers Retirement System now owns 377,388 shares of the company’s stock valued at $559,000 after purchasing an additional 12,803 shares during the period. 46.62% of the stock is owned by institutional investors and hedge funds.

Virgin Galactic Stock Down 5.4 %

Shares of NYSE:SPCE opened at $6.30 on Friday. The stock has a market capitalization of $181.94 million, a price-to-earnings ratio of -0.37 and a beta of 1.75. 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 stock has a fifty day simple moving average of $6.76 and a two-hundred day simple moving average of $8.33. Virgin Galactic has a 12-month low of $5.26 and a 12-month high of $54.60.

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

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.