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

Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCE) have earned a consensus recommendation of “Reduce” from the six brokerages that are currently 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 12 month price objective among brokers that have issued ratings on the stock in the last year is $25.50.

Several equities analysts have recently weighed in on SPCE shares. Morgan Stanley decreased their target price on Virgin Galactic from $35.00 to $5.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 17th. The Goldman Sachs Group decreased their price objective on Virgin Galactic from $53.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Finally, Susquehanna lowered their target price on shares of Virgin Galactic from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th.

Virgin Galactic Price Performance

Shares of NYSE SPCE opened at $7.03 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 4.52 and a current ratio of 4.52. The firm has a fifty day moving average of $6.69 and a 200 day moving average of $8.84. The firm has a market cap of $202.99 million, a PE ratio of -0.41 and a beta of 1.70. Virgin Galactic has a one year low of $5.26 and a one year high of $54.60.

Virgin Galactic (NYSE:SPCE) last released its earnings results on Wednesday, November 6th. The company reported ($2.66) EPS for the quarter, topping analysts’ consensus estimates of ($4.10) by $1.44. The business had revenue of $0.40 million during the quarter, compared to analysts’ expectations of $0.47 million. Virgin Galactic had a negative net margin of 3,975.27% and a negative return on equity of 88.09%. During the same quarter in the previous year, the company earned ($5.60) earnings per share. As a group, research analysts predict that Virgin Galactic will post -16.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Virgin Galactic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPCE. Vanguard Group Inc. increased its stake in shares of Virgin Galactic by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 34,633,452 shares of the company’s stock worth $51,258,000 after acquiring an additional 158,954 shares during the last quarter. Geode Capital Management LLC increased its position in Virgin Galactic by 21.0% during the third quarter. Geode Capital Management LLC now owns 508,088 shares of the company’s stock worth $3,101,000 after purchasing an additional 88,102 shares during the last quarter. California State Teachers Retirement System raised its stake in Virgin Galactic by 3.5% during the first quarter. California State Teachers Retirement System now owns 377,388 shares of the company’s stock worth $559,000 after purchasing an additional 12,803 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Virgin Galactic by 15.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 304,301 shares of the company’s stock valued at $451,000 after purchasing an additional 41,667 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Virgin Galactic by 29.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 187,368 shares of the company’s stock valued at $1,143,000 after buying an additional 42,883 shares during the period. Institutional investors and hedge funds 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.