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

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has been given an average recommendation of “Reduce” by the six research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $4.20.

A number of equities research analysts have commented on SPCE shares. Susquehanna set a $3.50 price target on Virgin Galactic in a research note on Thursday, January 15th. Morgan Stanley set a $2.30 price objective on Virgin Galactic and gave the company an “underweight” rating in a report on Friday, December 12th. Wolfe Research reiterated a “peer perform” rating on shares of Virgin Galactic in a research report on Friday, November 14th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Virgin Galactic in a report on Wednesday.

Virgin Galactic Stock Down 3.9%

Shares of SPCE opened at $3.06 on Friday. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 1.87. The business has a fifty day moving average of $3.43 and a 200 day moving average of $3.53. The company has a market cap of $223.41 million, a PE ratio of -0.41 and a beta of 2.01. Virgin Galactic has a 52-week low of $2.18 and a 52-week high of $6.64.

Virgin Galactic (NYSE:SPCE) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($1.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.51) by $0.42. Virgin Galactic had a negative net margin of 17,615.71% and a negative return on equity of 108.00%. The business had revenue of $0.37 million during the quarter, compared to the consensus estimate of $0.32 million. On average, sell-side analysts expect that Virgin Galactic will post -16.05 EPS for the current year.

Institutional Investors Weigh In On Virgin Galactic

A number of hedge funds have recently bought and sold shares of SPCE. Vanguard Group Inc. lifted its stake in Virgin Galactic by 26.9% in the third quarter. Vanguard Group Inc. now owns 2,342,026 shares of the company’s stock worth $9,040,000 after acquiring an additional 496,373 shares during the last quarter. Invesco Ltd. lifted its position in shares of Virgin Galactic by 48.3% during the 2nd quarter. Invesco Ltd. now owns 159,650 shares of the company’s stock worth $436,000 after buying an additional 52,009 shares during the last quarter. Penserra Capital Management LLC grew its position in shares of Virgin Galactic by 50.0% in the 3rd quarter. Penserra Capital Management LLC now owns 133,462 shares of the company’s stock valued at $515,000 after buying an additional 44,508 shares during the last quarter. Osaic Holdings Inc. boosted its stake in Virgin Galactic by 12.4% in the second quarter. Osaic Holdings Inc. now owns 114,144 shares of the company’s stock valued at $312,000 after acquiring an additional 12,577 shares in the last quarter. Finally, Virtus Advisers LLC acquired a new stake in shares of Virgin Galactic during the third quarter worth about $432,000. Institutional investors and hedge funds own 46.62% of the company’s stock.

About Virgin Galactic

Virgin Galactic Holdings, Inc (NYSE: SPCE) is a commercial spaceflight company developing and operating spacecraft for private individuals and research customers. The firm’s primary business is suborbital human spaceflight, offering passengers a brief trip to the edge of space aboard its reusable spaceplane. In parallel, the company is building out infrastructure and support services for suborbital payload deployments and microgravity research missions.

The core flight system consists of a carrier aircraft, WhiteKnightTwo, which lifts the spaceplane SpaceShipTwo to high altitude before release.