Virgin Galactic (NYSE:SPCE) Announces Earnings Results

Virgin Galactic (NYSE:SPCE) posted its quarterly earnings results on Thursday. The company reported ($2.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.23) by ($0.15), Zacks reports. Virgin Galactic had a negative net margin of 3,975.27% and a negative return on equity of 88.09%. The company had revenue of $0.46 million during the quarter, compared to the consensus estimate of $0.33 million.

Virgin Galactic Stock Performance

SPCE opened at $3.41 on Friday. The firm has a market cap of $121.15 million, a P/E ratio of -0.20 and a beta of 2.10. Virgin Galactic has a 52-week low of $2.18 and a 52-week high of $23.00. 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 business’s fifty day moving average is $3.03 and its 200-day moving average is $4.75.

Institutional Investors Weigh In On Virgin Galactic

A hedge fund recently raised its stake in Virgin Galactic stock. AQR Capital Management LLC boosted its holdings in Virgin Galactic Holdings, Inc. (NYSE:SPCE) by 284.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,945 shares of the company’s stock after buying an additional 67,303 shares during the quarter. AQR Capital Management LLC owned approximately 0.26% of Virgin Galactic worth $263,000 at the end of the most recent reporting period. 46.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SPCE shares. Susquehanna decreased their target price on Virgin Galactic from $4.00 to $3.25 and set a “neutral” rating on the stock in a report on Thursday, March 13th. The Goldman Sachs Group decreased their price objective on shares of Virgin Galactic from $41.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd.

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.