Virgin Galactic (NYSE:SPCE) Reaches New 12-Month Low at $5.14

Shares of Virgin Galactic Holdings, Inc. (NYSE:SPCEGet Rating) hit a new 52-week low on Tuesday . The stock traded as low as $5.14 and last traded at $5.14, with a volume of 33450 shares changing hands. The stock had previously closed at $5.29.

Analyst Upgrades and Downgrades

SPCE has been the subject of several recent research reports. Wells Fargo & Company initiated coverage on Virgin Galactic in a research report on Tuesday, June 21st. They set an “underweight” rating and a $4.00 price target for the company. Sanford C. Bernstein lowered Virgin Galactic from a “market perform” rating to an “underperform” rating and set a $4.00 price objective on the stock. in a report on Friday, September 9th. Truist Financial lowered Virgin Galactic from a “hold” rating to a “sell” rating and dropped their price objective for the company from $8.00 to $5.00 in a report on Friday, August 5th. Finally, Bank of America dropped their price objective on Virgin Galactic from $7.00 to $5.00 and set an “underperform” rating on the stock in a report on Thursday, August 18th. Six investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $8.36.

Virgin Galactic Price Performance

The company has a debt-to-equity ratio of 0.64, a current ratio of 6.44 and a quick ratio of 6.22. The stock has a 50 day moving average price of $6.56 and a 200-day moving average price of $7.20. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -3.54 and a beta of 0.78.

Virgin Galactic (NYSE:SPCEGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.05). The firm had revenue of $0.36 million during the quarter, compared to analyst estimates of $0.08 million. Virgin Galactic had a negative return on equity of 40.77% and a negative net margin of 9,801.09%. The business’s revenue was down 37.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.39) earnings per share. On average, analysts forecast that Virgin Galactic Holdings, Inc. will post -1.66 earnings per share for the current year.

Institutional Trading of Virgin Galactic

A number of institutional investors have recently made changes to their positions in the company. Verition Fund Management LLC acquired a new stake in shares of Virgin Galactic in the second quarter worth approximately $266,000. Prelude Capital Management LLC purchased a new position in Virgin Galactic during the second quarter worth approximately $67,000. Legal & General Group Plc lifted its position in Virgin Galactic by 44.8% during the second quarter. Legal & General Group Plc now owns 258,643 shares of the company’s stock worth $1,557,000 after buying an additional 79,973 shares in the last quarter. ExodusPoint Capital Management LP purchased a new position in Virgin Galactic during the second quarter worth approximately $283,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Virgin Galactic by 5.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 357,137 shares of the company’s stock worth $2,150,000 after buying an additional 18,778 shares in the last quarter. 33.89% of the stock is owned by institutional investors and hedge funds.

About Virgin Galactic

(Get Rating)

Virgin Galactic Holdings, Inc focuses on the development, manufacture, and operation of spaceships and related technologies for conducting commercial human spaceflight and flying commercial research and development payloads into space. It is also involved in the ground and flight testing, and post-flight maintenance of its spaceflight system vehicles.

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