Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE – Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $11.70, but opened at $11.36. Virgin Galactic shares last traded at $10.44, with a volume of 93,545 shares traded.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on SPCE. Susquehanna reduced their price objective on Virgin Galactic from $40.00 to $22.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. TD Cowen cut their target price on Virgin Galactic from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, May 13th. Truist Financial cut their target price on Virgin Galactic from $60.00 to $40.00 and set a “hold” rating for the company in a research report on Wednesday, February 28th. Wells Fargo & Company cut their target price on Virgin Galactic from $20.00 to $15.00 and set an “underweight” rating for the company in a research report on Thursday, May 9th. Finally, The Goldman Sachs Group cut their target price on Virgin Galactic from $80.00 to $70.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.00.
View Our Latest Research Report on Virgin Galactic
Virgin Galactic Stock Down 13.4 %
Virgin Galactic (NYSE:SPCE – Get Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($5.00) earnings per share for the quarter, beating analysts’ consensus estimates of ($5.20) by $0.20. The firm had revenue of $1.99 million during the quarter, compared to analysts’ expectations 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 business’s revenue was up 406.4% on a year-over-year basis. During the same period last year, the firm posted ($11.40) EPS. As a group, equities research analysts expect that Virgin Galactic Holdings, Inc. will post -18.75 EPS for the current fiscal year.
Institutional Investors Weigh In On Virgin Galactic
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPCE. Axxcess Wealth Management LLC bought a new stake in Virgin Galactic in the fourth quarter valued at about $27,000. Vanguard Personalized Indexing Management LLC bought a new stake in Virgin Galactic in the fourth quarter valued at about $30,000. Optas LLC acquired a new position in Virgin Galactic in the fourth quarter valued at about $31,000. Ballentine Partners LLC acquired a new position in Virgin Galactic in the fourth quarter valued at about $32,000. Finally, Capital Square LLC acquired a new position in Virgin Galactic in the fourth quarter valued at about $34,000. Institutional investors own 46.62% of the company’s stock.
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.
Read More
- Five stocks we like better than Virgin Galactic
- Profitably Trade Stocks at 52-Week Highs
- Rocket Lab Stock Jumps 40%: Analysts Fuel Growing Momentum
- What is a buyback in stocks? A comprehensive guide for investors
- Eli Lilly’s Stock Surge Driven by GLP-1 Demand
- Stocks with Unusual Volume: How to Find Unusual Volume Stocks in Real Time
- Top 3 Banking Stocks Set to Rally with Expanding Money Supply
Receive News & Ratings for Virgin Galactic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virgin Galactic and related companies with MarketBeat.com's FREE daily email newsletter.