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

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has received a consensus recommendation of “Reduce” from the six research firms that are presently covering the stock, Marketbeat reports. Two research 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. The average 1-year price target among analysts that have issued a report on the stock in the last year is $4.20.

A number of equities analysts have weighed in on the stock. Susquehanna set a $3.50 price target on shares of Virgin Galactic in a report on Thursday, January 15th. Morgan Stanley set a $2.30 price objective on Virgin Galactic and gave the stock an “underweight” rating in a report on Friday, December 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Virgin Galactic in a research report on Wednesday, January 21st. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Virgin Galactic in a report on Friday, November 14th.

Hedge Funds Weigh In On Virgin Galactic

Several hedge funds and other institutional investors have recently modified their holdings of SPCE. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Virgin Galactic during the 4th quarter worth about $34,000. Virtu Financial LLC purchased a new position in Virgin Galactic in the fourth quarter valued at approximately $129,000. Invesco Ltd. lifted its position in Virgin Galactic by 52.9% during the fourth quarter. Invesco Ltd. now owns 406,294 shares of the company’s stock valued at $1,304,000 after buying an additional 140,537 shares in the last quarter. Quadrature Capital Ltd lifted its position in Virgin Galactic by 130.5% during the fourth quarter. Quadrature Capital Ltd now owns 139,702 shares of the company’s stock valued at $448,000 after buying an additional 79,088 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Virgin Galactic by 118.9% during the fourth quarter. Millennium Management LLC now owns 479,789 shares of the company’s stock worth $1,540,000 after buying an additional 260,594 shares during the period. 46.62% of the stock is owned by institutional investors and hedge funds.

Virgin Galactic Price Performance

SPCE opened at $2.46 on Monday. Virgin Galactic has a 1 year low of $2.18 and a 1 year high of $6.64. The company’s 50 day simple moving average is $2.77 and its 200 day simple moving average is $3.33. The stock has a market capitalization of $179.53 million, a PE ratio of -0.33 and a beta of 2.23. The company has a debt-to-equity ratio of 1.87, a quick ratio of 2.87 and a current ratio of 2.87.

Virgin Galactic Company Profile

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.