Virgin Galactic Holdings, Inc. (NYSE:SPCE) Receives $2.26 Average Target Price from Analysts

Virgin Galactic Holdings, Inc. (NYSE:SPCEGet Free Report) has been given a consensus recommendation of “Reduce” by the seven analysts that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $2.26.

Several research firms have recently weighed in on SPCE. TD Cowen cut their target price on Virgin Galactic from $2.50 to $2.00 and set a “buy” rating on the stock in a research report on Monday, May 13th. Wells Fargo & Company cut their target price on Virgin Galactic from $1.00 to $0.75 and set an “underweight” rating on the stock in a research report on Thursday, May 9th. The Goldman Sachs Group cut their target price on Virgin Galactic from $4.00 to $3.50 and set a “neutral” rating on the stock in a research report on Monday, May 13th. Truist Financial cut their price objective on Virgin Galactic from $3.00 to $2.00 and set a “hold” rating on the stock in a research report on Wednesday, February 28th. Finally, Susquehanna cut their price objective on Virgin Galactic from $2.00 to $1.10 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th.

View Our Latest Stock Analysis on SPCE

Institutional Investors Weigh In On Virgin Galactic

Several hedge funds have recently made changes to their positions in SPCE. Axxcess Wealth Management LLC purchased a new stake in shares of Virgin Galactic in the 4th quarter worth $27,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Virgin Galactic in the 4th quarter worth $30,000. Optas LLC purchased a new stake in shares of Virgin Galactic in the 4th quarter worth $31,000. Ballentine Partners LLC purchased a new stake in shares of Virgin Galactic in the 4th quarter worth $32,000. Finally, Capital Square LLC purchased a new stake in shares of Virgin Galactic in the 4th quarter worth $34,000. 46.62% of the stock is currently owned by hedge funds and other institutional investors.

Virgin Galactic Stock Performance

NYSE SPCE opened at $1.01 on Monday. The stock has a market capitalization of $415.48 million, a PE ratio of -0.81 and a beta of 1.71. The business has a 50 day simple moving average of $1.18 and a two-hundred day simple moving average of $1.74. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.88 and a quick ratio of 4.88. Virgin Galactic has a 1-year low of $0.70 and a 1-year high of $6.17.

Virgin Galactic (NYSE:SPCEGet Free Report) last released its earnings results on Tuesday, May 7th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.01. The firm had revenue of $1.99 million for the quarter, compared to the consensus estimate of $2.05 million. Virgin Galactic had a negative return on equity of 87.99% and a negative net margin of 5,301.61%. The company’s revenue for the quarter was up 406.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.57) EPS. On average, research analysts predict that Virgin Galactic will post -0.94 EPS for the current fiscal year.

Virgin Galactic Company Profile

(Get Free Report

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.

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Analyst Recommendations for Virgin Galactic (NYSE:SPCE)

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