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

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has received an average rating of “Reduce” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $25.50.

SPCE has been the topic of several research analyst reports. Susquehanna cut their price objective on Virgin Galactic from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley cut their price target on shares of Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating on the stock in a report on Tuesday, September 17th. Finally, The Goldman Sachs Group decreased their price objective on shares of Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, October 10th.

Virgin Galactic Price Performance

Shares of NYSE SPCE opened at $6.61 on Monday. The stock has a market cap of $188.25 million, a price-to-earnings ratio of -0.33 and a beta of 1.70. The company has a debt-to-equity ratio of 1.06, a quick ratio of 4.71 and a current ratio of 4.71. Virgin Galactic has a fifty-two week low of $5.26 and a fifty-two week high of $54.60. The firm’s 50-day simple moving average is $6.54 and its 200 day simple moving average is $10.24.

Virgin Galactic (NYSE:SPCE) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($4.36) EPS for the quarter, beating analysts’ consensus estimates of ($5.40) by $1.04. Virgin Galactic had a negative return on equity of 83.64% and a negative net margin of 3,764.43%. The business had revenue of $4.22 million during the quarter, compared to analyst estimates of $3.50 million. During the same period in the prior year, the firm posted ($9.20) EPS. As a group, research analysts anticipate that Virgin Galactic will post -18.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Virgin Galactic

Hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Virgin Galactic in the 2nd quarter worth about $98,000. XTX Topco Ltd purchased a new stake in Virgin Galactic in the second quarter worth approximately $145,000. Bayesian Capital Management LP bought a new position in Virgin Galactic during the first quarter valued at approximately $35,000. Point72 DIFC Ltd bought a new stake in shares of Virgin Galactic in the 2nd quarter worth approximately $240,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Virgin Galactic by 908.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 55,163 shares of the company’s stock valued at $336,000 after purchasing an additional 49,693 shares during the last quarter. 46.62% of the stock is currently owned by institutional investors.

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.