Susquehanna Lowers Virgin Galactic (NYSE:SPCE) Price Target to $3.25

Virgin Galactic (NYSE:SPCE) had its price objective reduced by equities researchers at Susquehanna from $4.00 to $3.25 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Susquehanna’s price target would suggest a potential upside of 0.15% from the company’s previous close.

Separately, The Goldman Sachs Group cut their price objective on Virgin Galactic from $41.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Virgin Galactic currently has a consensus rating of “Hold” and a consensus target price of $19.85.

Virgin Galactic Price Performance

SPCE opened at $3.25 on Thursday. The stock has a fifty day moving average of $4.51 and a 200-day moving average of $5.85. The firm has a market capitalization of $115.29 million, a P/E ratio of -0.19 and a beta of 2.16. Virgin Galactic has a 12-month low of $2.85 and a 12-month high of $34.60. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 1.15.

Institutional Investors Weigh In On Virgin Galactic

A number of institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC grew its position in Virgin Galactic by 62.0% during the fourth quarter. Millennium Management LLC now owns 946,956 shares of the company’s stock worth $5,568,000 after buying an additional 362,421 shares in the last quarter. Federated Hermes Inc. lifted its stake in Virgin Galactic by 1,246.5% during the fourth quarter. Federated Hermes Inc. now owns 833,664 shares of the company’s stock worth $4,902,000 after purchasing an additional 771,749 shares during the period. Geode Capital Management LLC lifted its stake in Virgin Galactic by 19.1% during the fourth quarter. Geode Capital Management LLC now owns 605,362 shares of the company’s stock worth $3,561,000 after purchasing an additional 97,274 shares during the period. Northern Trust Corp lifted its stake in Virgin Galactic by 39.6% during the fourth quarter. Northern Trust Corp now owns 222,753 shares of the company’s stock worth $1,310,000 after purchasing an additional 63,141 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Virgin Galactic by 18.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 221,882 shares of the company’s stock worth $1,305,000 after purchasing an additional 34,514 shares during the period. 46.62% of the stock is owned by institutional investors and hedge funds.

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.