Virgin Galactic Holdings, Inc. (NYSE:SPCE) Receives $4.33 Average Price Target from Analysts

Virgin Galactic Holdings, Inc. (NYSE:SPCE) has been assigned an average recommendation of “Reduce” from the six research firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $4.3250.

SPCE has been the topic of several research analyst reports. Susquehanna reiterated a “neutral” rating and issued a $4.00 price target (up previously from $3.25) on shares of Virgin Galactic in a research note on Thursday, October 9th. Morgan Stanley set a $2.30 target price on Virgin Galactic and gave the stock an “underweight” rating in a report on Friday, December 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Virgin Galactic in a research report on Wednesday, October 8th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Virgin Galactic in a research note on Friday, November 14th.

Hedge Funds Weigh In On Virgin Galactic

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Virgin Galactic by 26.9% during the third quarter. Vanguard Group Inc. now owns 2,342,026 shares of the company’s stock valued at $9,040,000 after buying an additional 496,373 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Virgin Galactic by 8.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 240,831 shares of the company’s stock valued at $730,000 after acquiring an additional 18,949 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Virgin Galactic by 48.3% in the 2nd quarter. Invesco Ltd. now owns 159,650 shares of the company’s stock valued at $436,000 after acquiring an additional 52,009 shares during the period. Penserra Capital Management LLC raised its position in shares of Virgin Galactic by 50.0% in the 3rd quarter. Penserra Capital Management LLC now owns 133,462 shares of the company’s stock worth $515,000 after acquiring an additional 44,508 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its stake in shares of Virgin Galactic by 12.4% during the 2nd quarter. Osaic Holdings Inc. now owns 114,144 shares of the company’s stock worth $312,000 after purchasing an additional 12,577 shares during the last quarter. 46.62% of the stock is currently owned by institutional investors.

Virgin Galactic Stock Down 5.8%

Shares of Virgin Galactic stock opened at $3.15 on Wednesday. The company’s 50 day moving average is $3.68 and its 200 day moving average is $3.50. The company has a market cap of $181.12 million, a price-to-earnings ratio of -0.42 and a beta of 1.98. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 1.87. Virgin Galactic has a twelve month low of $2.18 and a twelve month high of $6.77.

Virgin Galactic (NYSE:SPCE) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($1.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.51) by $0.42. Virgin Galactic had a negative net margin of 17,615.71% and a negative return on equity of 108.00%. The company had revenue of $0.37 million for the quarter, compared to the consensus estimate of $0.32 million. Research analysts anticipate that Virgin Galactic will post -16.05 EPS for the current year.

About Virgin Galactic

Virgin Galactic Holdings, Inc (NYSE: SPCE) is a commercial spaceflight company developing and operating spacecraft for private individuals and research customers. The firm’s primary business is suborbital human spaceflight, offering passengers a brief trip to the edge of space aboard its reusable spaceplane. In parallel, the company is building out infrastructure and support services for suborbital payload deployments and microgravity research missions.

The core flight system consists of a carrier aircraft, WhiteKnightTwo, which lifts the spaceplane SpaceShipTwo to high altitude before release.