Virgin Galactic (NYSE:SPCE) Posts Earnings Results, Beats Estimates By $0.01 EPS

Virgin Galactic (NYSE:SPCE) issued its earnings results on Tuesday. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01, Briefing.com reports. Virgin Galactic had a negative net margin of 7,387.31% and a negative return on equity of 102.01%. The business had revenue of $1.99 million for the quarter, compared to the consensus estimate of $2.05 million. During the same quarter last year, the firm posted ($0.57) EPS. The business’s revenue for the quarter was up 406.4% compared to the same quarter last year.

Virgin Galactic Stock Down 0.5 %

SPCE stock traded down $0.01 during mid-day trading on Wednesday, hitting $1.01. 20,697,944 shares of the company were exchanged, compared to its average volume of 12,764,672. The company has a market capitalization of $402.04 million, a PE ratio of -0.58 and a beta of 1.71. The company has a current ratio of 5.12, a quick ratio of 5.03 and a debt-to-equity ratio of 0.83. Virgin Galactic has a twelve month low of $0.70 and a twelve month high of $6.17. The firm has a fifty day simple moving average of $1.28 and a 200 day simple moving average of $1.76.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SPCE. Susquehanna cut their target price on shares of Virgin Galactic from $2.00 to $1.10 and set a “neutral” rating on the stock in a research note on Wednesday. Truist Financial lowered their price target on shares of Virgin Galactic from $3.00 to $2.00 and set a “hold” rating for the company in a report on Wednesday, February 28th. Finally, Wells Fargo & Company lowered their price target on shares of Virgin Galactic from $1.75 to $1.00 and set an “underweight” rating for the company in a report on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $2.12.

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.