Virgin Galactic (NYSE:SPCE) PT Lowered to $47.00

Virgin Galactic (NYSE:SPCE) had its target price reduced by The Goldman Sachs Group from $53.00 to $47.00 in a report issued on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also issued reports on SPCE. Susquehanna cut their price objective on shares of 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 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. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Virgin Galactic presently has a consensus rating of Hold and an average target price of $25.50.

Virgin Galactic Stock Performance

Shares of SPCE stock opened at $6.15 on Thursday. The firm has a market cap of $175.15 million, a price-to-earnings ratio of -0.30 and a beta of 1.71. The company’s 50 day moving average is $6.30 and its 200 day moving average is $12.42. The company has a quick ratio of 4.71, a current ratio of 4.71 and a debt-to-equity ratio of 1.06. Virgin Galactic has a 52-week low of $5.26 and a 52-week high of $54.60.

Virgin Galactic (NYSE:SPCE) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($4.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($5.40) by $1.04. The company had revenue of $4.22 million for the quarter, compared to analyst estimates of $3.50 million. Virgin Galactic had a negative net margin of 3,764.43% and a negative return on equity of 83.64%. During the same period last year, the company posted ($9.20) earnings per share. On average, sell-side analysts anticipate that Virgin Galactic will post -18.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Virgin Galactic

Several institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Virgin Galactic during the second quarter valued at $98,000. Cantor Fitzgerald L. P. purchased a new stake in shares of Virgin Galactic during the fourth quarter valued at $39,000. XTX Topco Ltd purchased a new stake in shares of Virgin Galactic during the second quarter valued at $145,000. Bayesian Capital Management LP purchased a new stake in shares of Virgin Galactic during the first quarter valued at $35,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Virgin Galactic during the second quarter valued at $240,000. 46.62% of the stock is owned by hedge funds and other institutional investors.

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.